Argentina assets surge after reform-backed election victory

Argentina’s financial markets surged Monday after Javier Milei’s party secured a sweeping victory in mid-term elections, clearing a path for deeper economic reforms. The peso strengthened over 10% against the U.S. dollar, the local stock index jumped more than 20% and Argentina’s international bonds rallied. U.S.-backed financial assistance of up to US$40 billion bolstered investor optimism. Analysts say the electoral result reduces policy uncertainty and opens avenues for foreign investment, though inflation and debt remain key risks to watch.