(Buenos Aires, MI) – The ruling coalition led by Argentine President Milley easily won Sunday's midterm elections, gaining more seats in Congress. US President Trump credited the United States with providing substantial assistance to Milley's "remarkable victory."
According to vote counts released by Argentina's National Electoral Council on Sunday evening (October 26), Milley's Party for the Freedom and Progress won 40.8% of the vote, while the main opposition coalition, Forza Patria, secured 31.7%.
The elections upheld a third of the Senate, or 24 seats, and half of the House of Representatives, or 127 seats. With the reelection, the Party for the Freedom and Progress holds 19 seats in the Senate and 92 in the House of Representatives, increases of 13 and 48, respectively, compared to the pre-election period.
This came as a relief to Milley, whose approval ratings had recently declined. Experts had expected a Party for the Freedom and Progress to be a strong candidate for over 35% of the vote. The final results showed that despite widespread voter dissatisfaction with Milley's deep austerity measures, voters authorized him to continue implementing sweeping economic reforms.
Analysts point out that the Milley administration now holds at least a third of the seats in the House of Representatives, which can prevent Congress from overturning bills vetoed by the president and help advance his policy goals.
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However, since the ruling coalition failed to secure a majority, Milley is expected to continue to win support from smaller centrist parties to pass legislation during the remaining two years of his term.
On Monday (27th), Trump described the Milley administration as having achieved an unexpected "remarkable victory." "He's had a lot of help from us... I've given him very strong support," he said aboard Air Force One.
Before the election, the United States signed a $20 billion currency swap agreement with Argentina and plans to create a $20 billion financing facility to invest in Argentine sovereign debt.
"We made a lot of money out of this election because bond prices went up. Their overall debt rating went up," Trump said. But he stressed that the United States was not aiding Argentina for financial gain.
U.S. Treasury Secretary Benson, who accompanied Trump on his trip to Asia, said Milley is working to correct Argentina's 100 years of misguided policies. "With the support of the United States, he's going to dismantle those policies."
