Argentine President Javier Milei scored a major win in the nation’s elections Sunday, doubling his party’s share of congress on the heels of a multibillion-dollar economic bailout deal from the Trump administration.
Milei’s Freedom Advances party is set to double their share in the Argentinian Congress, earning a mandate for his massive free-market reforms and the veto power to defend them, after his coalition secured more than a third of seats in both chambers. Milei has been in talks with President Donald Trump and the administration to obtain a mammoth $40 billion bailout to relieve his nation’s mounting financial pressures.
“BIG WIN in Argentina for Javier Milei, a wonderful Trump Endorsed Candidate!” Trump said on Truth Social Monday morning. “He’s making us all look good. Congratulations Javier!”
Milei embarked on a massive campaign after his election in 2023 to gut government programs and slash regulations to bring the nation’s economy out of stagnation and runaway inflation. However, the treasury is running dry, and with mounting payments on debt looming, Argentina reached out to secure a bailout from the U.S.
While inflation in Argentina remains high, the rate has fallen from over 130% in 2023 to 41.3% in 2025, according to International Monetary Fund statistics.
Treasury Secretary Scott Bessent is strongly encouraging Argentina to cut its economic ties with China in light of the generous payout, people familiar with the conversations told the Wall Street Journal.
“The United States supports Argentina’s efforts to stabilize its economy and President [Milei]’s ambitious reform agenda,” the State Department said on X Monday. “We continue to work with Argentina to foster consensus and implement sustainable reforms to deliver long-term economic stability and prosperity for its people.”
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