The midterm elections involved 127 of the 257 seats in the House of Representatives and 24 of the 72 seats in the Senate. According to government data, La Libertad Avanza will go from 37 to 64 seats in the House of Representatives.
Tension in Argentina: election is litmus test for radical economic reforms by President Javier Milei
Milei calls his big victory a turning point. According to him, Argentina has chosen to “irrevocably change the path forward for the homeland.” The Argentine president also promised to implement more economic reforms.
The far-right Milei was elected president in 2023. He promised to restore Argentina’s economy by cutting government spending and fighting inflation. But recent unrest in the financial markets has put pressure on the peso. Earlier in October, the US announced that it would provide financial support to Argentina by buying pesos and making $20 billion available through a swap line, in which pesos are exchanged for dollars.
US President Donald Trump warned that he would only continue to support Argentina financially if Milei’s party won the elections.