Milei Wins Argentine Midterm Elections

On October 26, 2025, Argentina held its midterm elections, resulting in significant victories for President Javier Milei and his party, La Libertad Avanza. This electoral outcome bolstered Milei’s power to implement substantial economic reforms, which he has been pursuing since taking office in late 2023.

Milei’s Electoral Triumph

President Milei secured over 40% of the vote, surpassing the left-leaning Peronist opposition, which garnered approximately 31%. His party gained 14 Senate seats and 64 in the lower house, giving him a stronger foothold in Congress. This victory is critical for Milei as it allows his administration to uphold vetoes and potentially curb impeachment attempts.

The Influence of U.S. Support

The outcome is tied to significant financial backing from the U.S., where approximately $40 billion in assistance was at stake. Former President Donald Trump indicated that he would support Milei with a $20 billion currency swap and another $20 billion in loans contingent on his electoral success.

Milei’s administration has been characterized by a focus on austerity and extreme free-market policies aimed at reversing Argentina’s deep economic crises. Following the elections, Milei expressed confidence, stating that the Argentine people are ready to move past a century of decline.

Impact on the Political Landscape

• Electoral Shift: Milei’s party is gaining ground in traditional Peronist regions, evident in Buenos Aires province, where he narrowly won after previously losing by 14 percentage points.
• Weakening Opposition: The Peronist coalition faced internal strife, and its inability to unify voters contributed to its poor performance, reinforcing Milei’s governing position.
• Market Reactions: Analysts expect a positive response from markets, viewing Milei’s victory as approval of his reform agenda and stabilization efforts.

Challenges Ahead

Despite his electoral success, Milei faces challenges in maintaining control of Congress. Experts stress the importance of forging alliances with other political factions to ensure the implementation of his economic reforms. Additionally, the public’s response to his austerity measures remains uncertain, particularly as inflation continues to affect everyday life.

Recent reports indicate that inflation in Argentina has risen significantly, even as Milei’s policies have helped reduce it from a peak of 289% in April 2024 to 32% recently. However, many citizens express dissatisfaction, highlighting disparities between beneficiaries of reforms and those struggling economically.

Voter Sentiments and Turnout

Voter turnout for the recent elections was reported at approximately 68%, one of the lowest since Argentina’s return to democracy in 1983. The compulsory voting requirement led to many voters participating out of obligation rather than enthusiasm for the candidates.

As Argentina navigates this new political landscape, President Javier Milei’s administration is positioned to continue its radical reforms, reshaping the country’s economic future amidst ongoing challenges.