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Argentina heads into midterm elections that will renew half the lower house and a third of the Senate, a crucial test for President Javier Milei as the peso slides and a U.S. $20 billion swap arrives. Milei warns he needs more seats to advance his agenda; his party holds 37 of 254. Corruption allegations involving his sister, denied by both, and street protests have battered his standing. Inflation has cooled, but 50,000 public jobs and subsidies were cut, and disapproval tops 60%. Washington will seek another $20 billion, even as polls stay murky and youthful crowds still cheer Milei.

Prepared by Lauren Mitchell and reviewed by editorial team.