BUENOS AIRES, Nov 19 (Portal) – Argentina elected right-wing libertarian Javier Milei as its new president on Sunday, putting an outsider with radical views in charge of rescuing an economy plagued by triple-digit inflation, a looming recession and rising poverty .
Milei, riding a wave of voter anger with the political mainstream, won by a larger margin than expected. He received about 56% of the vote, while his rival, the Peronist Economy Minister Sergio Massa, received just over 44% of the vote and had to concede.
“The model of decadence is over, there is no turning back,” Milei said in a defiant speech after the result, but also acknowledged the challenges he faces.
“We face enormous problems: inflation, unemployment and poverty,” he said. “The situation is critical and there is no room for half-hearted measures.”
In downtown Buenos Aires, hundreds of Milei supporters honked and chanted his popular refrain against the political elite – “Out with everyone” – as rock music played from loudspeakers. Some people set off fireworks as the excitement spread.
“We came to celebrate this historic triumph,” said Efrain Viveros, a 21-year-old student from Salta province. “To be honest, I’m thrilled. Milei stands for change for the better. With Massa we would have had no future, our future has returned.”
Milei promises economic shock therapy. His plans include closing the central bank, scrapping the peso and making drastic spending cuts, potentially painful reforms that resonated with voters angered by the economic woes.
“Milei is the new one, he’s a little unknown and it’s a little scary, but it’s time to turn over a new page,” said 31-year-old restaurant worker Cristian as he voted on Sunday.
Milei’s challenges are enormous. He will have to contend with empty government and central bank coffers, a floundering $44 billion International Monetary Fund debt program, inflation approaching 150% and a dizzying array of capital controls.
Some Argentines had described the vote as a choice for the “lesser evil”: fear of Milei’s painful economic medicine versus anger at Massa and his Peronist party over an economic crisis that has left Argentina heavily indebted and unable to tap global credit markets .
Milei is particularly popular with young people who have seen their country slide from one crisis to the next.
“Maybe I don’t agree with everything Milei says or can identify with, but he is our future,” said Irene Sosa, a 20-year-old student celebrating in front of his voting bunker. “Milei represents a future for young people like me, Massa was everything that was wrong with our country.”
Milei’s victory shakes up Argentina’s political landscape and economic roadmap and could have implications for trade in grain, lithium and hydrocarbons. Milei criticized China and Brazil and said he would not negotiate with “communists” and favored stronger ties with the United States.
[1/20]Argentine presidential candidate Javier Milei and his sister Karina Milei react to the results of Argentina’s runoff election on November 19, 2023 in Buenos Aires, Argentina. Portal/Agustin Marcarian acquire license rights
Nevertheless, after the result was announced, Brazilian President Luiz Inacio Lula da Silva wished Milei good luck and success, adding that it was important that democracy be respected.
Former US President Donald Trump congratulated Milei and said the libertarian would make Argentina great again.
Meanwhile, leftist Colombian President Gustavo Petro said it was a “sad day” for the region.
“Profound break”
The victory of Milei, a 53-year-old economist and former television pundit, broke the hegemony of the two leading political forces on the left and right – the Peronists, who have dominated Argentine politics since the 1940s, and their main opposition, the Together for the conservative block change.
“The election represents a profound break in the system of political representation in Argentina,” Julio Burdman, director of consultancy Observatorio Electoral, said before the vote.
The campaign of 51-year-old Massa, a veteran political dealmaker, had sought to address voters’ fears about Milei’s volatile character and his plans to shrink the state.
“Milei’s politics scare me,” 42-year-old teacher Susana Martinez said Sunday after voting for Massa.
Milei is strongly opposed to abortion, supports looser gun laws and has criticized Argentina’s Pope Francis. He used to carry a chainsaw to symbolize his planned cuts, but in recent weeks he put it aside to bolster his moderate image.
After the first round of elections in October, Milei entered into an uneasy alliance with the Conservatives. But he faces a highly fragmented Congress in which no single bloc has a majority, meaning he will need support from other factions to push through legislation. Milei’s coalition also has no regional governors or mayors.
That could weaken some of his more radical proposals. Long-suffering voters are likely to have little patience, and the threat of social unrest is never far from the surface.
His supporters say only he can remedy the political status quo and economic malaise that has plagued South America’s second-largest economy for years.
“Milei is the only viable option so that we don’t end up in misery,” said Santiago Neria, a 34-year-old accountant.
Reporting by Nicolás Misculin, Lucinda Elliott and Walter Bianchi; Additional reporting by Candelaria Grimberg, Jorge Otaola, Jorgelina do Rosario, Alex Villegas, Maximilian Heath and Lucila Sigal; Writing by Adam Jourdan; Edited by Will Dunham and Rosalba O’Brien
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