Milei promises more “libertarian” reforms in Argentina with the “unwavering” support of the US and seeks new ministers

“The Cabinet is going to be built in the light of the new Congress. The important thing is to achieve the reforms. The instrument is the new Cabinet and I have to put it together,” Milei said in an interview with the A24 channel. The president had anticipated the intention to change his team after the elections, but decided to postpone the decision due to the favorable result of his coalition.

The victory of LLA allows the president to strengthen his economic plan and advance with structural measures focused on fiscal and labor matters. With more than 99% of the votes counted, LLA obtained 40.6% in the Chamber of Deputies and 42% in the Senate, while the Peronist Fuerza Patria coalition and its allies reached 31.6% and 28.42%, respectively.

Milei ignored the corruption investigations and confirmed the continuity of his sister and general secretary of the Presidency, Karina Mileiand his advisor Santiago Caputo. “There will be no changes. They are the architects of this process,” he stated. He also highlighted the work of the Chief of Staff, Guillermo Francos.

Political interference from the White House has been critical to its success. Milei thanked the support of the United States, particularly the Secretary of the Treasury, Scott Bessantwhich he described as unbreakable. “This victory is a triumph of the spirit of freedom of the Argentine people,” he wrote in X.

The president also highlighted the influence of the former US president Donald Trumpto whom he attributed the strengthening of bilateral ties and the opening to foreign investment.

It is worth remembering that the US Government offered financial assistance to Argentina before the elections, including a currency exchange agreement for 20 billion dollars and an intervention in the exchange market to inject liquidity. A second helping of 20,000 million dollars in the form of debt investment was conditional on the electoral success of LLA.

Trump highlighted that Milei received “a lot of support” and that the measure seeks to support an economic project that combats policies considered erroneous for decades.

The markets responded enthusiastically. The Merval stock index rose 19.4% and the Argentine peso gained more than 10%, and international bonds registered notable increases, according to data from MarketAxess. Analysts consulted by Reuters agree that the victory eliminates political uncertainties and reinforces investor confidence in Milei’s economic plan.

The president attributes the initial results to his adjustment strategy: “Inflation fell, poverty fell, indigence also fell, real wages rose and the GDP grew. This shows that the model works.”