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.

For decades, the poor suburbs that ring Argentina’s capital Buenos Aires powered the leftist Peronist movement. On Sunday, they made a historic shift against Peronism that propelled President Javier Milei to a surprise victory in midterm congressional elections.

EDITORIAL. Bolstered by his success in tackling inflation, the libertarian president, actively backed by Donald Trump, finished far ahead in the October 26 legislative elections.

Peronism’s renovation is well overdue. It seems Argentines would much rather carry on along Milei’s path of uncertainty and sacrifice than go back to reach the future.

The Argentine peso weakened despite renewed optimism after President Javier Milei’s sound victory in midterm elections. Meanwhile, the U.S. dollar weakened as risk appetite picked up.