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Milei Wins Decisive Midterms, Expands Clout in Argentina’s Congress

A U.S. financial backstop buoyed the result, giving Milei more room to pursue austerity without delivering an outright majority.

Overview

  • La Libertad Avanza took just over 40% of the vote to roughly 31% for Peronism, translating into about 64 new lower‑house seats and 12–14 in the Senate.
  • Seat gains strengthen Milei’s capacity to defend vetoes and executive decrees, though he must still court allies to pass major legislation.
  • President Trump congratulated Milei and highlighted a roughly $40 billion support package that includes a $20 billion currency swap and a proposed ~$20 billion private facility.
  • Markets were expected to welcome the outcome as reducing political risk around Milei’s reform program, according to analysts and media tallies.
  • Turnout was among the lowest since 1983 at about 68%, with Milei’s bloc eking out a narrow win in Buenos Aires province and signaling outreach to governors and potential cabinet adjustments.