Struggles for Milei: Buenos Aires Election Sets the Stage for Argentina's Political Future

Argentina's libertarian President Javier Milei's party faced a major setback in Buenos Aires provincial elections. The elections are seen as a barometer for the party's potential performance in the upcoming congressional midterms. Peronism led the polls with nearly 47% of the vote, while Milei's party garnered about 34%.

This outcome is a significant blow to Milei's attempts to overhaul Argentina's fragile economy. Despite stabilizing the peso and curbing inflation, his harsh austerity measures have had widespread effects on the working class. The provincial elections serve as an indication of the political balance ahead of national congressional elections.

The election results sparked a response from former president Cristina Fernandez de Kirchner, who criticized Milei's economic policies and statements on social media. Meanwhile, Argentina's economic struggles continue, with a shrinking economy, rising unemployment, and soaring interest rates pressuring Milei's government. Questions linger about the viability of his economic vision as the leader tries to reassure global markets.