On October 27, local time, Argentina's main stock index once rose by more than 20%, and the Argentine peso once rose by more than 10% against the US dollar.

According to foreign media reports, the ruling party of Argentine President Millais won the midterm congressional elections.Trump isMillay said he received "a lot of help" from the United States in the process of winning.

Argentine parliamentary midterm elections held on 26 November, according to the National Election Commission announced that night 98.9% of the vote count results, the ruling party "liberal progress" led by Milley gained more seats and won.

Trump praised the accompanying reporter on the 27th on the presidential cabin for his ¡°unforeseen victory,¡± calling it ¡°a great thing.¡±

Previously, the Trump administration had provided a $40 billion bailout plan to help Millay boost his approval ratings before the election, including a $20 billion currency swap agreement that had been signed and a proposed $20 billion debt investment mechanism.

While Millet's tough austerity policy has sparked widespread discontent, winning the midterm congressional elections could give him the power to continue to push for radical economic reforms. Millet said in a speech on the evening of 26 that the ruling party has more seats in Congress and will help the government continue to push for reforms and economic growth over the next term.

Trump also said frankly: "This election has made us a lot of money because bond prices have risen and their overall debt rating has improved." However, he added that the United States is not participating purely for profit.

U.S. Treasury Secretary Bescent is responsible for overseeing financial aid to Argentina. Trump named a number of senior officials, including him, and stressed: "We are maintaining close cooperation with many countries in South America, and South America is our focus area."

Besent called aid to Argentina a bridge to support Millay's economic plan. He told reporters accompanying the president's special plane: "Millay is working hard to reverse a century-old bad policy. With the support of the United States, he will surely break these shackles."

The credit rating agency noted on Monday that U.S. support for the Argentine market has prevented Argentina from lowering its credit rating, but it still needs to develop a more comprehensive foreign exchange reserve reconstruction plan to get the rating up.

(Declaration: The contents and data of the article are for reference only and do not constitute investment advice.

Edited | || Jin Mingyu Du Hengfeng

Proofreading | Xu Shaohang

Image source: Visual China

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