Argentina Elects Libertarian Javier Milei As President
OAN’s James Meyers
8:35 AM – Monday, November 20, 2023
Argentina Elects “Trump of Argentina” as New President
The announcement came on Sunday, as Argentina takes a chance on Javier Milei, an outsider with libertarian views, to tackle the country’s economic crisis. With inflation at a staggering 140%, a rising recession, and increasing poverty, Milei’s election is seen as a bold move.
Milei secured 55.7% of the votes, defeating center-left candidate Sergio Massa who received 44.3%. Milei’s victory was driven by his support in Buenos Aires and the northern provinces of Cordoba, Santa Fe, and Mendoza.
Although Milei had a small lead in the polls leading up to the election, political experts believed he underperformed in the first round. However, his campaign promises of economic shock therapy resonated with voters.
Milei plans to implement drastic measures such as shutting down the central bank, eliminating the peso, and significantly reducing government spending. However, he faces challenges including the country’s $44 billion debt program with the International Monetary Fund, high inflation, and capital controls.
Meanwhile, current President Alberto Fernandez has been absent from the public eye for several months, leading analysts to speculate that Massa has been making important economic decisions in 2023.
Milei’s victory has been particularly popular among young voters in Argentina. His presidency could have implications for trade in lithium, grains, and hydrocarbons. He has expressed strong opposition to Brazil and China, advocating for closer ties with the United States.
“The election marks a profound rupture in the system of political representation in Argentina,” said Julio Burdman, director of the consultancy Observatorio Electoral, ahead of the vote.
In addition to his economic stance, Milei is known for his anti-abortion views, support for gun rights, and controversial remarks about Argentine Pope Francis. He has pledged to prioritize alliances with the United States and Israel.
With no single majority in Congress, Milei will need to garner support from other factions to pass legislation, which will likely be a challenging task throughout his presidency.
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What challenges does President Milei face in addressing Argentina’s $44 billion debt program with the International Monetary Fund and high inflation?
Argentina’s newly elected president, Javier Milei, has been dubbed the “Trump of Argentina” as he takes the helm of the country amid a severe economic crisis. With inflation skyrocketing at 140%, a deepening recession, and increasing poverty, Milei’s election marks a bold move by the Argentine people to address these pressing issues.
Milei, an outsider with libertarian views, secured 55.7% of the votes, defeating center-left candidate Sergio Massa, who received 44.3%. His victory was driven by strong support in Buenos Aires and the northern provinces of Cordoba, Santa Fe, and Mendoza. Despite having a small lead in the polls leading up to the election, Milei was seen as underperforming in the first round. However, his campaign promises of implementing economic shock therapy resonated with voters.
As president, Milei plans to implement drastic measures to rebuild the country’s economy. His plans include shutting down the central bank, eliminating the peso, and significantly reducing government spending. However, he faces challenges such as the country’s $44 billion debt program with the International Monetary Fund, high inflation, and capital controls.
Meanwhile, current President Alberto Fernandez has been absent from the public eye for several months, leading analysts to speculate that Massa has been making important economic decisions in 2023. Milei’s victory has been particularly popular among young voters in Argentina, and his presidency could have implications for trade in lithium, grains, and hydrocarbons. He has expressed strong opposition to Brazil and China, advocating for closer ties with the United States.
“The election marks a profound rupture in the system of political representation in Argentina,” said Julio Burdman, director of the consultancy Observatorio Electoral, ahead of the vote. This sentiment reflects the significance of Milei’s win and the potential shifts in Argentina’s political landscape.
In addition to his economic stance, Milei is known for his anti-abortion views, support for gun rights, and controversial remarks about Argentine Pope Francis. He has pledged to prioritize alliances with the United States and Israel. However, Milei’s presidency also comes with challenges, as there is no single majority in Congress.
As Argentina embarks on this new chapter under Milei’s leadership, the country faces significant hurdles in its path to economic recovery. Milei’s unconventional approach and promises of radical change will be put to the test as he grapples with the pressing issues at hand. It will be interesting to see how his presidency unfolds and the impact it has on Argentina’s future.
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