Argentina: Milei achieves an important political victory for his government

On an election day that marked a turning point, La Libertad Avanza, led by libertarian President Javier Milei, achieved strong support in this year's national legislative elections.

This result strengthens the government's position in Congress and gives it a renewed impetus to face changes in its cabinet and consolidate its political project at mid-term.

With more than 90% of the ballots counted, La Libertad Avanza obtained 40.84% of the votes for the Chamber of Deputies, widely surpassing Peronism, which stood at around 24.50%.

Milei's government reverses the defeat

The triumph was especially significant in the province of Buenos Aires, where the ruling party, led by Diego Santilli, reached 41.53%, reversing a 13.5-point defeat suffered just a month and a half earlier in the provincial elections. This turnaround in the country's main electoral district reflects massive support for Milei's economic policies.

La Libertad Avanza wins in the country

The electoral map showed La Libertad Avanza imposing itself in 16 of the 24 provinces for the Chamber of Deputies, including Buenos Aires, CABA, Chubut, Corrientes, Córdoba, Entre Ríos, Jujuy, La Rioja, Mendoza, Misiones, Neuquén, Río Negro, Salta, San Luis, Santa Fe and Tierra del Fuego.

On the other hand, Fuerza Patria and its allies only won in Catamarca, Formosa, La Pampa, San Juan, Santa Cruz and Tucumán.

In the Senate, the ruling party won 6 of the 8 provinces in dispute (CABA, Chaco, Entre Ríos, Neuquén, Santa Fe and Tierra del Fuego), balancing a scenario which, until now, was adverse to it.

The electoral result is ocurred even though Milei's government had faced turbulent months due to alleged corruption scandals in his circle and economic tensions after the defeat in Buenos Aires in September.

A surprising victory

Days earlier, Milei pointed out that a good result would be to reach a third of the Deputies to guarantee governability, a goal he not only achieved but exceeded, with an estimated 64 seats.

Some breathing room

The triumph gives Milei some room to maneuver to restructure his cabinet with greater confidence. Likewise, this election strengthens the government's position in Congress and gives it a renewed impulse to face changes and consolidate its political project.

Along these lines, the president's sister, Karina Milei, said: "We are very happy, it was a quiet and participative election. La Libertad Avanza competed in all districts for the first time."

The minister of economy, Luis Caputo, was also a leading figure in the elections, reinforcing his position after key negotiations with the United States that prevented a currency run in the previous weeks. His management was crucial to stabilizing the economy and solidifying support in the final stretch of the campaign.

U.S. support for Javier Milei: "Make Argentina Great Again"

The United States' support has been a determining factor for the government of Javier Milei in the run-up to these legislative elections.

After the defeat in the provincial elections in Buenos Aires, which sparked market uncertainty, the minister of economy, Luis Caputo, led negotiations with the Trump administration on a financial package of approximately $20 billion.

This agreement included a currency swap and the possible purchase of Argentine bonds. The deal was closed in October, with Treasury Secretary Scott Bessent stabilizing the dollar and providing a crucial boost to the Argentine president.

Additionally, Bessent highlighted the U.S. commitment to Milei's reforms, praising his approach to reducing trade barriers and underscoring the role of the IMF, led by Kristalina Georgieva, in the deal.

Milei described the pact as a "historic support" for economic stability, while Caputo presented it as a geopolitical endorsement that aligns Argentina with U.S. interests, including efforts to counter Chinese influence.

The agreement, announced at a meeting between Milei and Trump at the White House, included promises of private investments in sectors such as mining, energy and technology, strengthening the bilateral alliance.