The La Libertad Avanza party of Argentina, which is led by President Javier Milei, has emerged victorious in the midterm elections, adequately positioning him to be a strong candidate for the upcoming presidential elections in October 2027. With nearly 99% of votes counted, Milei’s party secured approximately 40.68% of the votes, surpassing the Peronist party, notably in the historically Peronist-aligned Buenos Aires province.

This outcome marks a reversal from September’s provincial election where Milei’s party experienced a significant loss to the Peronists. Amid domestic economic challenges, Argentina recently established a $20 billion currency swap with the US, which aims to deepen economic partnerships, enhancing Milei’s influence as he prepares for the 2027 elections.

Though the Peronist party holds a congressional majority, this result places Milei firmly back into the spotlight as a potential frontrunner in future elections.

Image Source: La Libertad Avanza

As a former economist, Milei has concentrated his efforts on promoting free markets, reducing inflation, and advocating for minimal state intervention. He was instrumental in the legalization of contracts to be settled in Bitcoin and other cryptocurrencies in December 2023.

However, his efforts have been somewhat overshadowed by past controversies, including his involvement in the Libra token scandal. The scandal sparked allegations of insider trading, particularly after a public post led to a dramatic rise and subsequent crash of the token’s market value.

Currently, polling data indicates that Milei’s public image has deteriorated, with 63.2% of Argentines now viewing him unfavorably, despite his political achievements.