Argentina has chosen Javier Milei, a right-wing libertarian, as its new president, taking a gamble on an outsider with radical views to address the country’s struggling economy. Milei, who captured the voter anger towards the political mainstream, won by a larger margin than expected, securing 56% of the vote compared to his rival, Peronist Economy Minister Sergio Massa’s 44%. In his defiant speech after the victory, Milei acknowledged the monumental challenges ahead, including inflation, unemployment, and poverty.
In downtown Buenos Aires, hundreds of Milei supporters celebrated the historic triumph, expressing their hope for change and a better future. Milei promises economic shock therapy, intending to shut down the central bank, abandon the peso, and implement spending cuts. While some voters find this prospect daunting, they believe it is time for a new beginning.
However, Milei faces significant challenges, including a depleted government and central bank, mounting debt, high inflation, and capital controls. Argentines perceived the election as choosing the lesser evil, weighing the fear of Milei’s potentially painful reforms against anger towards Massa and his party for the economic crisis plaguing the country.
Milei’s victory disrupts Argentina’s political landscape and economic direction, potentially affecting trade in essential commodities like grains, lithium, and hydrocarbons. He has criticized China and Brazil, favoring stronger ties with the United States.
Despite their differences, Brazilian President Luiz Inacio Lula da Silva and former U.S. President Donald Trump both congratulated Milei, emphasizing the importance of respecting democracy. Leftist Colombian President Gustavo Petro, however, described it as a sad day for the region.
Milei’s triumph represents a profound rupture in Argentina’s political representation, challenging the longstanding dominance of the Peronists and the conservative bloc. Massa’s campaign aimed to exploit fears of Milei’s volatile personality and plans to reduce the size of the state.
Milei’s stance on issues such as abortion, gun control, and his criticism of Pope Francis have sparked controversy. While he formed an alliance with conservatives before the election, the fragmented Congress and lack of regional governors or mayors in Milei’s coalition may limit the implementation of his radical proposals.
Supporters argue that Milei is the only viable option to disrupt the country’s political status quo and alleviate the economic challenges that have plagued Argentina for years. They believe he can prevent the country from falling further into misery and provide a brighter future for its citizens.
