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Milei’s Party Wins Argentina’s Midterms, Restoring Veto Leverage

The result strengthens his hand in Congress as a $40 billion U.S. support plan returns to the foreground.

Overview

  • La Libertad Avanza led the national vote with roughly 40.8% in the October 26 legislative elections, outperforming pre‑vote polls that forecast a tight race with the peronist Fuerza Patria.
  • Seat gains push the ruling bloc past the one‑third threshold in both chambers, reinforcing the president’s ability to sustain vetoes while still leaving him short of a governing majority.
  • The party won in key provinces, including Buenos Aires province, and expanded its footprint across most of the country.
  • Voter participation fell to a post‑1983 low, underscoring broad disaffection even as the governing party advanced.
  • Washington’s pledged $40 billion assistance, publicly linked by President Donald Trump to Milei’s success, drew renewed attention as markets prepared to gauge the outcome.