Argentina’s President Javier Milei scored a surprise midterm victory after voters in Buenos Aires’ poor suburbs—long a Peronist stronghold—turned away from the movement that has dominated politics for 80 years, reports the WSJ. Backed by a promised $40 billion US bailout from President Trump, Milei’s libertarian Freedom Advances party narrowly defeated the Peronists, gaining momentum for his free-market reforms. Low turnout among disillusioned Peronist voters and strong middle-class support helped seal the win. Analysts say Milei now has a stronger mandate to overhaul Argentina’s economy, while the Peronist defeat has deepened internal rifts within the once-powerful movement. They write:

For decades, the poor suburbs that ring Argentina’s capital Buenos Aires powered the leftist Peronist movement. On Sunday, they made a historic shift against Peronism that propelled President Javier Milei to a surprise victory in midterm congressional elections.

The Argentine poor whom Eva Perón lionized as the country’s heart and soul largely stayed home in a stinging rebuke to the Peronist movement that has dominated politics here for 80 years. At the same time, middle-class voters mobilized to rescue Milei and his free-market revolt.

With the promise of a $40 billion bailout from President Trump behind him, Milei gave voters a choice: stick with his brand of self-described “shock therapy” for Argentina’s ills or face the familiar economic ruin seen under the Peronists in the past. […]

The victory was stunning because, less than two months ago, Milei’s party lost by almost 14 percentage points in local elections held by the Province of Buenos Aires, the Peronist stronghold that is home to half of the country’s poor and 40% of Argentina’s electorate. […]

Kicillof said that Sunday’s outcome didn’t represent a blank check for Milei at a time when many impoverished Argentines are suffering and businesses are closing because of his austerity policies.

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