Milei’s party wins big in Argentina’s midterm elections
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Sunday’s midterm elections in Argentina produced a stunning victory for President Javier Milei’s La Libertad Avanza party. The party doubled its representation in Congress, meaning Milei’s party and allies secured at least one-third of the seats in both chambers — the critical threshold to preserve the president’s veto power and defend his sweeping decrees.
Milei’s libertarian party defied poll predictions, tripling its congressional seats to advance free-market reforms.
Election leaves La Libertad Avanza and its allies on 107 of 257-seat chamber; President Milei’s government will need to form agreements to pass essential legislation such as labour law and tax reform.
Argentine stocks rose sharply Monday following a stronger than expected result from President Javier Milei’s La Libertad Avanza party in legislative elections Sunday. The Global X MSCI Argentina ETF rose 17% in before-hours trading.