Voters in Argentina are heading to the polls in midterm legislative elections that will gauge support for President Javier Milei’s sweeping free-market reforms, which have caused austerity pains for many, at a critical juncture in his presidency.
Elections are being held on Sunday for half of Argentina’s lower Chamber of Deputies, or 127 seats, as well as a third of the Senate, or 24 seats. The outcome could determine whether Milei’s libertarian programme of hefty budget cuts and bids to deregulate the country’s struggling economy will endure.
Milei’s La Libertad Avanza party, a relatively new political force in Argentina, has only 37 deputies and six senators, amounting to less than 15 percent of seats in Congress.
The party is aiming to boost that share to at least a third of seats in Congress – to help defend against opposition attempts to thwart the president’s agenda, to shore up investor confidence and, crucially, to retain Milei’s support from fellow right-winger United States President Donald Trump.
“Don’t give up because we’re halfway there,” Milei told supporters at a closing campaign event in the port city of Rosario on Thursday. “We’re on a good path.”
Earlier this month, Washington pledged a $40bn potential bailout, including a $20bn currency swap to stabilise the value of the peso, and a possible $20bn “facility”.
But Trump has threatened to pull away if his populist ally performs poorly, warning that “if he doesn’t win, we’re not going to waste our time, because you have somebody whose philosophy has no chance of making Argentina great again.”
Trump’s bailout plans have infuriated US farmers struggling amid his trade war with China, and many have questioned his “America First” credentials.
On October 19, a reporter asked Trump why he decided to aid Argentina despite concerns among US soya producers.
“Argentina is fighting for its life,” Trump answered. “Young lady, you don’t know anything about it. … They have no money. They have no anything.”
Currently, both chambers in Argentina are controlled by the left-wing and centrist opposition to Milei’s party, with the Peronist opposition movement currently holding the largest minority in both houses.
Credit: aljazeera.com
