By Ken Afor
On Sunday, citizens of Argentina chose right-wing libertarian Javier Milei to become their country’s new president, taking a gamble on an outsider with far-reaching beliefs to revive a faltering economy faced with high inflation, a recession in the near future, and an increase in poverty.
Milei’s victory with a larger-than-predicted percentage of the vote, driven by the displeasure of voters against the establishment, was confirmed when he attained 56%, while his opponent, Peronist Economy Minister Sergio Massa, acquired 44% and was thus forced to yield.
“The model of decadence has come to an end, there’s no going back,” Milei said in a defiant speech after the result, while also acknowledging the challenges that face him.
“We have monumental problems ahead: inflation, lack of work, and poverty,” he said. “The situation is critical and there is no place for tepid half-measures,” Reuters quoting the newly elected president.
Hundreds of supporters of Milei showed their enthusiasm in downtown Buenos Aires, honking horns and chanting ‘Out with all of them’ to the beat of rock music playing from speakers. The whole atmosphere was made more thrilling as some people set off fireworks.
“We came to celebrate this historic triumph,” said Efrain Viveros, a 21-year-old student from the province of Salta. “I’m honestly ecstatic. Milei represents change, for the better. With Massa we’d have had no future, our future has returned.”
Milei is proposing a radical economic system change, with the closure of the central bank, discarding of the peso, and decrease in spending, moves which may be hard to take but appear to appeal to voters who are feeling discontent with the current economic climate.
“Milei is the new thing, he’s a bit of an unknown and it is 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 faces an immense undertaking; he must handle the depleted finances of the state and the Federal Reserve, a staggering debt of $44 billion to the IMF, inflation edging ever closer to 150%, and a wide array of regulations concerning capital.
Many Argentines viewed the election as a decision between two undesirable options: alarm at Milei’s stringent financial plan opposed to indignation for Massa and his Peronist faction for the intense economic downturn leaving the country financially distressed and shut out of global lending platforms.
Young people in particular have been drawn to Milei because of all of the tumultuous political issues plaguing their homeland.
“Perhaps not everything Milei says I agree with or can identify with but he is our future,” said Irene Sosa, a 20-year-old student celebrating outside his election bunker. “Milei represents a future for young people like me, Massa was everything that is wrong with our country.”
The election of Milei has sent shockwaves through Argentina’s political and economic spheres, and may have an effect on trade of grains, lithium and hydrocarbons. Milei has voiced strong anti-communist opinions and has expressed a desire to strengthen ties with the United States.
President Luiz Inacio Lula da Silva expressed good wishes of luck and success to Milei after the outcome of the election was announced, stressing the importance of respecting democracy.
Donald Trump, the ex-President of the United States, wished Milei success and conveyed his hope that Argentina would be transformed for the better under the libertarian.
Colombian President Gustavo Petro, a leftist, expressed sadness over the situation, saying it was a ‘sad day’ for the region.
Milei, a 53-year-old economist and ex-television commentator, has triumphed in a result which has shattered the domination of the two key political groups from the left and right: the Peronists, who have had the upper hand in Argentinian politics since the 1940s, and their major adversaries, the conservative syndicate, the Together for Change.
“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.
Massa, an adept political operator aged 51, attempted to use fear-mongering tactics in their campaign towards Milei in order to dissuade voters from supporting ideas of reducing the size of the state.
“Milei’s policies scare me,” teacher Susana Martinez, 42, said on Sunday after she voted for Massa.
Milei has long been against abortion, supports more lenient gun laws and has accused the Argentine Pope Francis.
Previously, he had been using a chainsaw to depict potential budget cuts, but more recently he has decided to put away the chainsaw to present himself as a moderate.
After October’s first-round vote, Milei formed an alliance with the conservatives. However, due to the divided Congress with no single majority, he must gain support from additional factions to approve bills.
Additionally, Milei’s coalition does not include any regional governors or mayors.
Voters who have endured much hardship are likely to have limited patience towards some of his more progressive plans, thus, the possibility of social disorder always looms near.
His supporters claim that he is the only one who can reform the political establishment and eliminate the economic difficulty which has been plaguing the second-largest economy in South America for several years.
“Milei is the only viable option so we do not end up in misery,” said Santiago Neria, a 34-year-old accountant.
