Five Takeaways From Milei’s Surprising Victory in Argentina’s Election

BUENOS AIRES—The surprisingly decisive victory of Argentina’s President Javier Milei in midterm elections Sunday lays the ground for a $40 billion U.S. bailout and gives fresh momentum to one of the most radical free-market overhauls in the nation’s history.

In an election widely seen as a referendum on Milei’s past two years in office, his Freedom Advances party won some 41% of the national vote, more than doubling its representation in Congress. The leftist Peronist opposition, a political force for much of the past 80 years, got just 32%.