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Argentine voters have elected right-wing liberal Javier Milei as their new president, creating a major shock in the second round of the presidential election amid triple-digit inflation, recession and rising poverty in Argentina's economy .
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| Argentine President-elect Javier Milei and his sister after his victory. Photo: Reuters |
Mr. Milei won thanks to a wave of voters' anger about the difficult economic situation, winning 56% of the vote compared to his opponent, Economy Minister Sergio Massa, who only had more than 44%.
According to Reuters, speaking after the results, Mr. Milei affirmed that the old management model is over, there is no return," while acknowledging the challenges he faces such as inflation, unemployment and poverty. According to Mr. Milei, the situation is critical and there is no room for half-measures. Mr. Milei pledged a treatment that includes closing the central bank, eliminating the peso and cutting spending. He will have to deal with empty government and central bank coffers, a $44 billion debt program to the International Monetary Fund, inflation of nearly 150% and a series of capital controls.
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Argentines take to the streets to celebrate Javier Milei's victory. Photo: Reuters |
In downtown Buenos Aires, hundreds of Milei supporters honked horns and chanted his famous anti-political elite chant. Some let off fireworks as the excitement spread.
“We came to celebrate this historic victory,” said Efrain Viveros, a 21-year-old student from Salta province. “Milei represents change for the better. With Massa, we have no future.”
Milei's victory shakes up Argentina's political landscape and economic trajectory, and could impact trade in grains, lithium and many other sectors.
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