Overview

• Javier Milei's La Libertad Avanza party won over 30% of the vote in Buenos Aires, defeating Mauricio Macri's PRO party after 18 years of dominance in the city.
• The election outcome strengthens Milei's position ahead of the October midterms, where he aims to expand his party's congressional representation.
• Financial markets reacted positively, with Argentine bonds and the S&P Merval stock index seeing gains following the election results.
• Low voter turnout, at just 53%, has raised questions about the breadth of Milei's popular mandate despite the symbolic victory.
• Milei's economic policies, including austerity measures and inflation control, continue to garner investor support, though challenges like rebuilding foreign reserves remain.