Argentina's President Javier Milei has delivered a resounding victory in the country's midterm elections, winning over 40% of the vote and sinking the Peronistas coalition in the process. The landslide win marks a significant shift in Argentine politics, as Milei's party Libertad Avanza secures 104 seats in the lower Chamber and 24 seats in the Senate.
Milei's triumph is seen as a major blow to the country's long-standing populist regime, which has been marred by high inflation, corruption, and economic instability. The Peronista coalition, led by Kirchnerism, had been the dominant force in Argentine politics for nearly two decades, but Milei's victory marks a significant turning point in the country's history.
The election turnout of 67.85% was the lowest since Argentina's return to democracy in 1983, but the results show that most Argentines rejected the old populist regime and opted for structural reforms and economic openness instead. Milei has promised to push for key reforms on labor, pension, and taxation, and his administration is seen as a major proponent of free-market policies.
The victory has sent a positive signal across the country, with markets and investors reacting positively to the news. The Argentine peso surged nearly 10% against the US dollar, while shares from Argentina's main investing banks rose considerably.
Milei's government has been credited with driving down inflation from 211.4% in 2023 to 31.8% by September 2025, achieving primary and fiscal surplus, and lifting millions of people out of poverty. Moody's has also upgraded Argentina's credit rating from Caa3 to Caa1.
The landslide victory marks the end of a wave of authoritarian-populism and radical socialism that has swept through Latin America in recent years, with leaders such as Hugo Chavez, Rafael Correa, Evo Morales, and Cristina Kirchner coming to power. Milei's win is seen as a major setback for this trend, and suggests that economic liberalism, open markets, and subsidiarity policies are gaining traction in the region.
As one analyst noted, "The next electoral cycle in Latin America will be in Chile on November 16, where conservative candidate Jose Antonio Kast is leading polls by 23%." This could mark a turning point in the region's politics, as economic liberalism and openness begin to gain ground. With a potential victory of Kast, Latin America may enter a new era of economic freedom, rule of law, accountability, property rights, and prosperity.
Milei's triumph is seen as a major blow to the country's long-standing populist regime, which has been marred by high inflation, corruption, and economic instability. The Peronista coalition, led by Kirchnerism, had been the dominant force in Argentine politics for nearly two decades, but Milei's victory marks a significant turning point in the country's history.
The election turnout of 67.85% was the lowest since Argentina's return to democracy in 1983, but the results show that most Argentines rejected the old populist regime and opted for structural reforms and economic openness instead. Milei has promised to push for key reforms on labor, pension, and taxation, and his administration is seen as a major proponent of free-market policies.
The victory has sent a positive signal across the country, with markets and investors reacting positively to the news. The Argentine peso surged nearly 10% against the US dollar, while shares from Argentina's main investing banks rose considerably.
Milei's government has been credited with driving down inflation from 211.4% in 2023 to 31.8% by September 2025, achieving primary and fiscal surplus, and lifting millions of people out of poverty. Moody's has also upgraded Argentina's credit rating from Caa3 to Caa1.
The landslide victory marks the end of a wave of authoritarian-populism and radical socialism that has swept through Latin America in recent years, with leaders such as Hugo Chavez, Rafael Correa, Evo Morales, and Cristina Kirchner coming to power. Milei's win is seen as a major setback for this trend, and suggests that economic liberalism, open markets, and subsidiarity policies are gaining traction in the region.
As one analyst noted, "The next electoral cycle in Latin America will be in Chile on November 16, where conservative candidate Jose Antonio Kast is leading polls by 23%." This could mark a turning point in the region's politics, as economic liberalism and openness begin to gain ground. With a potential victory of Kast, Latin America may enter a new era of economic freedom, rule of law, accountability, property rights, and prosperity.