- Javier Milei wins presidency.
- Promises radical economic changes.
- Global figures react positively.
“A political earthquake” has been used to characterize the radical newcomer’s victory.
Radical Proposals and Pledges
Mr. Milei, whom his detractors have dubbed “El Loco” (the madman) on occasion, has pledged to implement radical changes, such as abandoning the peso for the US dollar and “blowing up” the central bank to prevent it from creating more money, which he claims is the primary cause of inflation.
His other proposals include reducing welfare payments and bureaucratic red tape through the elimination of the ministries of culture, women, health, and education, among others.
He stated that everything that can be placed into the hands of the private sector will be placed there. Although Mr. Milei noted that YPF would have to be “rebuilt” prior to privatization. He did not specify the duration of the process.
Additionally, the incoming president declared that public works would be “reduced to zero.” Those currently under construction would be placed out to bid so that “no further state spending would occur.”
Social Stances and Addressing Economic Crisis
Election Surprises and Economic Challenges Ahead
Although pre-election opinion polls had indicated a slight advantage for Mr. Milei over Mr. Massa, the unexpectedly large margin of his victory—more than 11%, according to preliminary results—has taken many by surprise.
Mr. Milei’s aggressive approach and pledge to “eradicate the political caste,” which he attributes to the nation’s ills, reportedly appealed to voters weary of Argentina’s established parties, according to analysts.
“This model of decadence no longer exists.” “There is no turning back,” he told his fans in his victory speech, ushering in a new era for Argentina.
“We fell from being the wealthiest nation on earth to being ranked 130th today.” 10% of Argentines are indigent, while the other half are impoverished. Cease this deplorable manifestation of the caste system. He stated, “In order to regain our status as a global power, we right now adopt the libertarian model.”
Furthermore, he declared that the modifications he intended to implement would be substantial and prompt.
The former economist and commentator carried a chainsaw aloft during his campaign to represent his intention to reduce expenditures.
His message appeared to strike a chord with the electorate as they celebrated his victory in Buenos Aires’s streets. One woman told the AFP news agency, “We were extremely exhausted, we desired a change, we desired to see new faces instead of the same ones, and I am certain that Milei’s situation will improve for both himself and the nation.”
Economists, on the other hand, have been more circumspect, noting that Mr. Milei’s party holds only a minority of seats in the Argentine Congress and, as a result, will be forced to negotiate with the very politicians whose platforms he criticized and vilified during the campaign.
Politically, Mr. Milei has previously been fast to bury the hatchet despite his anti-establishment rhetoric.
After securing victory in the initial round, he refrained from criticizing the third-placed candidate. The conservative Patricia Bullrich subsequently endorsed Mr. Milei in the subsequent round.
However, despite the fact that his supporters chanted “change!” through the streets of the capital, Buenos Aires, there are those who are concerned about the potential repercussions of Mr. Milei’s victory on Argentine society.
Human rights activists in the country were astounded by his selection of Victoria Villarruel as his vice-presidential running partner. 30,000 individuals were killed or disappeared under military rule from 1976 to 1983.
Ms. Villarruel, an individual with military ancestry, has advocated for the demolition of a monument that honors the victims of Argentina’s military junta and has presented arguments in support of officers convicted of crimes against humanity.
On December 10, Mr. Milei and Ms. Villarruel will be sworn in for terms of four years.