“The result shores up momentum for self-described ‘anarcho-capitalist’ economic programs”.
I thought he was supposed to be in trouble politically. Guess not.
BUENOS AIRES—President Javier Milei scored a decisive political win Sunday, strengthening his position in Argentina’s Congress and securing a lifeline for his audacious free-market revolution backed by President Trump.
With nearly 92% of votes counted, Milei’s Freedom Advances party won almost 41% of the national vote, putting it on track to more than double its representation in Congress. That means his party and allies should secure at least one-third of the seats in both chambers—the critical threshold that allows Milei to preserve his veto power and defend his sweeping decrees.
The result, stronger than most polls had predicted, gives Milei fresh political momentum after months of unrest over deep spending cuts and a grinding recession last year. It also shores up his standing with Washington and the International Monetary Fund, which have tied future financial support to the survival of his austerity experiment. Market analysts expect Argentine bonds and the peso to rally when trading opens Monday, reflecting relief that Milei still has political traction.
The U.S. announced a $20 billion currency swap this month to prop up Argentina’s currency and promised to raise another $20 billion from private banks and sovereign-wealth funds.
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