"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."
"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."
"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."
Midterm legislative elections in Argentina will fill 127 lower-house seats and 24 senate seats and could determine support for President Javier Milei's free-market reforms. Milei's programme centers on large budget cuts and deregulation aimed at stabilising a struggling economy but has produced austerity pains for many. La Libertad Avanza currently holds 37 deputies and six senators, under 15% of Congress, and seeks at least a third of seats to defend the agenda and reassure investors. Washington pledged a potential $40bn bailout, including a $20bn currency swap and a $20bn facility, though US backing could be withdrawn if Milei performs poorly.
Read at www.aljazeera.com
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