Argentina's mid-term elections have given a significant boost to Javier Milei's free-market agenda as he secured over 40% of votes in the landslide victory. The result marks another pivotal moment in Argentina's recent history, signaling a turning point for long-overdue libertarian reforms to modernize the country.
President Milei declared that the people had decided to leave behind 100 years of decline and welcomed this new chapter in building a great Argentina. His promise of a $40 billion bailout from the Trump Administration further boosted confidence in the economy, with markets and investors reacting positively as the Argentine peso surged nearly 10% against the U.S. dollar.
Milei's party Libertad Avanza won in 15 districts, gaining 104 seats out of 257 in the lower Chamber and 24 out of 72 in the Senate, changing the country's congressional landscape completely. This is a stark contrast to the defenders of the old populist regime led by the peronistas, who have governed Argentina for the last 17 years.
Despite facing opposition from most media outlets, President Milei secured an impressive resounding 41% of votes compared to 31% for Kirchnerism and 9% for moderate Peronists. This clearly indicates that Argentinians overwhelmingly rejected populism in favor of structural reforms and economic openness, with a whopping 75% supporting the path towards liberalizing the economy.
The new composition of Congress will significantly strengthen President Milei's legislative position, enabling him to implement his ambitious reform agenda on labor, pension, and tax reform. The favorable outlook for advancing a pro-market agenda leaves room for optimism that this government can push through meaningful reforms.
Mileiโs recent post-victory statement showcased conciliatory tone as he outlined plans to extend and consolidate consensus in Congress to advance the long-awaited reform agenda. Furthermore, recent scandals involving politicians have not seemed to affect his popularity among Argentine youth and middle-class, who are largely supporting his government.
The administration has successfully undertaken numerous reforms and progress on property rights, climbing 11 positions to rank 84th globally in 2025 from 95th in 2023. This success, along with the stabilization plan's results, have led Moodyโs upgrade Argentina's credit rating from Caa3 to Caa1.
It is clear that the wave of authoritarian-populism and radical socialism has ended as evident from recent elections in Venezuela and Bolivia, signaling a shift towards economic liberalism, open markets, and subsidiarity policies. If conservative candidate Jose Antonio Kast secures victory in Chile's upcoming election, this could further propel Latin America towards a new era of economic freedom, prosperity, and rule of law.
President Milei declared that the people had decided to leave behind 100 years of decline and welcomed this new chapter in building a great Argentina. His promise of a $40 billion bailout from the Trump Administration further boosted confidence in the economy, with markets and investors reacting positively as the Argentine peso surged nearly 10% against the U.S. dollar.
Milei's party Libertad Avanza won in 15 districts, gaining 104 seats out of 257 in the lower Chamber and 24 out of 72 in the Senate, changing the country's congressional landscape completely. This is a stark contrast to the defenders of the old populist regime led by the peronistas, who have governed Argentina for the last 17 years.
Despite facing opposition from most media outlets, President Milei secured an impressive resounding 41% of votes compared to 31% for Kirchnerism and 9% for moderate Peronists. This clearly indicates that Argentinians overwhelmingly rejected populism in favor of structural reforms and economic openness, with a whopping 75% supporting the path towards liberalizing the economy.
The new composition of Congress will significantly strengthen President Milei's legislative position, enabling him to implement his ambitious reform agenda on labor, pension, and tax reform. The favorable outlook for advancing a pro-market agenda leaves room for optimism that this government can push through meaningful reforms.
Mileiโs recent post-victory statement showcased conciliatory tone as he outlined plans to extend and consolidate consensus in Congress to advance the long-awaited reform agenda. Furthermore, recent scandals involving politicians have not seemed to affect his popularity among Argentine youth and middle-class, who are largely supporting his government.
The administration has successfully undertaken numerous reforms and progress on property rights, climbing 11 positions to rank 84th globally in 2025 from 95th in 2023. This success, along with the stabilization plan's results, have led Moodyโs upgrade Argentina's credit rating from Caa3 to Caa1.
It is clear that the wave of authoritarian-populism and radical socialism has ended as evident from recent elections in Venezuela and Bolivia, signaling a shift towards economic liberalism, open markets, and subsidiarity policies. If conservative candidate Jose Antonio Kast secures victory in Chile's upcoming election, this could further propel Latin America towards a new era of economic freedom, prosperity, and rule of law.