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Milei’s win should lock in financial backing from Trump. But at what cost to Argentinians?

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monday

In late October Argentina’s president, Javier Milei, won a decisive victory in the country’s midterm elections. The scale of the result caught most political commentators off-guard. It now gives the president the legislative capacity to push through his much touted programme of labour and tax reforms.

While voter turnout hit a historic low, those who did vote overwhelmingly supported Milei’s Liberty Advances party, strengthening his chances of consolidating his radical economic agenda of austerity and free-market capitalism.

Milei’s defeat in local legislative elections in Buenos Aires province only a month earlier had led me to ask whether his economic agenda was at risk of being derailed. But this time around, in the same province – a traditional stronghold of the opposition Peronist party – Milei’s party took most of the seats.

Even in his historic presidential election victory in 2023, this was a province that Milei had been unable to win. So victory now could be seen as a validation of his wider austerity policies – and a mark of his popularity.

It is a popularity that seemingly transcends borders – all the way to the White House. In the run-up to the election, much was written on US intervention into Argentine politics. US president Donald Trump offered a US$40 billion (£30 billion) bailout while simultaneously warning the country’s electorate that the offer was conditional on strong voter support for Milei in the midterms.

Immediately after his electoral victory, members of the Trump administration heaped praise on Milei, calling him a patriot and freedom fighter who would make Argentina

© The Conversation