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Pollsters had anticipated a setback for Javier Milei and his anarcho-capitalist party, La Libertad Avanza, in the recent midterm elections. Contrary to expectations, Milei’s coalition secured a remarkable 41% of the national vote, significantly increasing their representation in Congress. This decisive win grants Milei a strong mandate to advance his libertarian economic reforms, aimed at revitalizing Argentina’s economy after years of Peronist governance.
When Milei took office in 2023, Argentina was grappling with severe hyperinflation, reaching a monthly rate of 25.5% by late that year. However, by May 2025, this rate had dramatically decreased to 1.5%. The poverty rate, which affected nearly 42% of the population, has since fallen to an estimated 31.7%, with GDP growth hitting 5.8% in the first quarter of this year. While inflation and poverty levels remain high by global standards, it is evident that the Argentine populace recognizes the need for patience as they strive to transform their historically centralized economy into a model of economic freedom.
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Having the backing of the U.S. president is advantageous. Earlier this month, President Donald Trump pledged $20 billion in currency swaps and an additional $20 billion from the private sector to support Argentina’s struggling economy, contingent upon Milei’s party winning the midterm elections.
“Congratulations to President Javier Milei on his landslide victory in Argentina. He is doing a wonderful job! Our confidence in him was justified by the People of Argentina,” Trump posted on Truth Social early Monday morning.
https://truthsocial.com/@realDonaldTrump/posts/115444163384468198
Milei, who has maintained a friendly rapport with Trump, responded: “Thank you, President [Trump], for trusting the Argentine people. You are a great friend of the Argentine Republic. Our Nations should never have stopped being allies. Our peoples want to live in freedom. Count on me to fight for Western civilization, which has succeeded in lifting more than 90% of the world’s population out of poverty. MAGA.”
https://x.com/JMilei/status/1982670284873216040
Javier Milei is undoubtedly the leader Argentina needs at this moment. He is a staunch advocate of economic principles, often citing Ludwig von Mises as “the greatest economist in history” and referencing key works by Friedrich Hayek and Murray Rothbard. He acknowledges that implementing comprehensive reforms, such as abolishing the central bank, will be a challenging journey, and he views his alliance with Trump and the United States as crucial, especially as several neighboring South American countries lean towards China.
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Trump’s investment in Milei is proving beneficial for all involved. Milei gains the authority to pursue his “chainsaw” reforms, Argentina secures necessary currency swaps, and the U.S. fortifies its alliance with a nation that has the potential to reclaim its status as a leading economy in the region. This partnership also provides the U.S. with a strategic counterbalance to Chinese economic influence in countries like Brazil.
“I’m with this man because his philosophy is correct,” Trump stated about Milei during a recent meeting at the White House. If Argentina’s economy is to be salvaged, it will likely require a leader with Milei’s vision, and the U.S. should align itself with those who advocate for economic freedom for populations in dire need.
Brady Leonard (@bradyleonard) is a musician, political strategist, and host of The No Gimmicks Podcast.
