Desperate for a way out of the crippling economic crisis, Argentines began voting on Sunday in a nail-biting election between embattled Economy Minister Sergio Massa and libertarian outsider Javier Milei.
The two men represent completely different future prospects for Latin America’s third-largest economy, which is suffering from triple-digit inflation and a poverty rate of more than 40 percent.
Polls show the candidates in a dead heat, with Milei having such a slight lead that no one wants to predict an outcome.
Around 36 million Argentines can vote until 6:00 p.m. (2100 GMT), with results expected a few hours later. The new president will take office on December 10th.
Massa, 51, is a charismatic and experienced politician who is trying to persuade Argentines to trust him despite recording an annual inflation rate of 143 percent as economy minister.
His rival Milei is an anti-establishment outsider who has vowed to stop Argentina’s rampant spending, abolish the peso against the U.S. dollar and “blow up” the central bank.
Argentines are “on the verge of a nervous breakdown,” said political analyst Ana Iparraguirre of GBAO Strategies, describing tensions over what comes next.
Most are so disgusted with their options that they “have to choose the lesser of two evils.”
Voter turnout will be crucial as polls show about 10 percent of voters are still undecided and the election takes place on a long weekend.
“Neither candidate has any good suggestions. I voted for the one who will cause the least damage to the country, which is in a very complicated situation,” said 25-year-old nurse Laura Coleman.
– Milei puts the chainsaw away –
Milei, a 53-year-old economist, is a political newcomer who stunned observers by rocketing to the forefront of the election campaign just a few months ago.
He is often compared to former US President Donald Trump and Brazil’s Jair Bolsonaro, with Massa accusing him of imitating the two politicians by raising the specter of electoral fraud – for which he has provided no evidence.
Milei’s rants against traditional parties that have failed to reverse decades of economic decline have energized voters tired of the status quo.
“I hope Milei wins,” said 50-year-old taxi driver Daniel Ayala, adding that he was “tired of the corruption” of the ruling Peronist coalition.
In a first-round election in October, Massa topped the polls by coming first with nearly 37 percent, while Milei received about 30 percent of the vote.
Both have sought to win millions of votes from the three losing candidates.
Third-place candidate Patricia Bullrich from the powerful center-right opposition campaigned fully for Milei.
Milei has toned down his rhetoric to appeal to her more moderate voters, imploring the public not to give in to fear stoked by Massa’s campaign.
“If you’re afraid, you’ll become paralyzed and… nothing will change. We will not privatize health and education, we will not allow the unrestricted carrying of weapons,” he said.
He had previously stated that he wanted to abandon these ministries entirely and advocated making it easier to carry weapons and even sell human organs.
In recent weeks, the powered chainsaw he brandished at rallies has been gone, a symbol of the public spending cuts he wanted to make.
– Quiet alternative –
Massa represents the Peronist coalition, a populist movement focused heavily on state interventions and social programs that has dominated Argentine politics for decades.
He has sought to distance himself from the deeply unpopular outgoing President Alberto Fernandez and his Vice President Cristina Kirchner, who was convicted of fraud last year. Both have disappeared from public view.
Massa has tried to portray himself as the calm, statesmanlike opposite of Milei.
However, analysts accuse him of misusing state resources to increase his election chances.
This includes warning of rising transport prices under Milei as well as cutting income taxes for almost the entire population and granting cash payouts to millions.
– “Incredibly deep hole” –
Whoever wins, analysts warn Argentina faces a difficult road ahead.
Analysts say a devaluation of the tightly controlled peso is long overdue, and the lack of dollars has led to shortages of fuel, medicine and even bananas in recent weeks.
With central banks’ reserves in the red and no line of credit, the next government will “pull Argentina out of an incredibly deep hole with very few resources to do so,” said Benjamin Gedan, director of the Argentina Project at Wilson in Washington Center.
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