Two years after a stunning election victory, Argentina's libertarian president, Javier Milei, faces a tough legislative election on Sunday.

The results will determine whether Milei's budget-slashing cuts and attempts to deregulate the economy will survive. Jittery financial markets are watching very closely.

Here are five things to know about the October 26 ballot, which will choose half of the country's 257 deputies and a third of its 72 senators.

- Who loses, wins? -

In 2023, Milei upended Argentina's political landscape, winning a landslide 56 percent of the presidential vote.

However, his young party, Liberty Advances (La Libertad Avanza), did not fare as well, securing only 37 deputies and six senators.

That has allowed a hostile Congress to repeatedly block his reforms, notably

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