"Alarm bells are likely ringing in government circles after the resounding defeat suffered by Argentinian President Javier Milei's ultraliberal right-wing party La Libertad Avanza at the hands of the Peronist coalition Fuerza Patria in Sunday's legislative elections. Milei accepted the "clear defeat" after the results were announced and promised to "correct what needs to be corrected." The province of Buenos Aires is the most populous district in Argentina, boasting 40% of the electorate, and also has the highest concentration of poverty. It is a stronghold of Peronism and election results here are key."
"Axel Kicillof, the center-left Peronist governor of the province had decided to hold local legislative elections before the national legislative elections scheduled for 26 October. "President Milei presented this election as a kind of plebiscite for his government," explained Lucia Vincent, a political scientist at Argentina's University of San Martin (UNSAM), in an interview with DW, highlighting the political weight of these elections. "Milei chose to nationalize this provincial election, and that was clearly a mistake," Hernan Lechter, director of the Argentine Centre for Political Economy (CEPA), told DW."
"But political analyst Ignacio Labaqui of the Argentine Catholic University (UCA) argued that there were other factors involved: "Absenteeism and the fragmentation of the non-Peronist vote explain the reasons behind this election," he said, noting that the result had "to do with rather crude mistakes in the government's electoral strategy, arrogance and a lack of generosity towards political allies," referring to verbal attacks against some provincial governors that Milei has made. Axel Kicillof took a gamble of calling early local elections and won Image: Stringer/AFP Results cause markets to plunge The markets also reacted negatively to the results. On Monday, the dollar opened at 1450 Argentine pesos,"
La Libertad Avanza, led by Javier Milei, suffered a resounding loss to the Peronist coalition Fuerza Patria in Buenos Aires provincial legislative elections, prompting Milei to accept a "clear defeat" and vow corrections. Buenos Aires holds 40% of the electorate, high poverty concentrations, and is a Peronist stronghold, making its results decisive. Governor Axel Kicillof secured victory after calling early local elections. Factors behind the result included absenteeism, fragmentation of non-Peronist votes, strategic electoral errors, perceived arrogance, and verbal attacks on allies. Financial markets reacted negatively, with the peso plunging and the dollar opening near 1,450 pesos.
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