Buenos Aires –
Argentina have it soon president just replaced Alberto Fernandez. The 2023 Argentine presidential election has been won by Javier Milei.
Reported by AFP, Monday (20/11/2023), Javier Milei won the presidential election which was held on Sunday (19/11) local time.
Argentina is currently hit by three-digit inflation which is causing the people’s economy to suffer. The figure of Javier Milei emerged to bulldoze the populist domination of the Peronist coalition that had long been entrenched in Argentina.
Javier Milei is a far-right politician (in the Argentine political spectrum), namely from the libertarian camp. He is said to be the world’s first libertarian president.
Javier Milei, President-elect of Argentina. (Source: AFP)
Javier Milei himself calls himself an ‘anarcho-capitalist’. He declared that he was anti-communist and dared to say that he would cut ties with China, including daring to cut off trade relations with neighboring Brazil. China said it would continue to cooperate with Argentina, congratulating the president-elect on his victory.
“China always attaches great importance to the development of China-Argentina relations from a strategic and long-term perspective,” Foreign Ministry spokesman Mao Ning said at a regular briefing.
With 55.7 percent of the vote, Milei defeated his rival, Economy Minister Sergio Massa, who received 44 percent of the vote and quickly conceded defeat.
“Today begins the reconstruction of Argentina. Today begins the end of Argentina’s decline,” said Milei in his victory speech. “The model of decadence is over. There is no turning back.”
Latin America’s third-largest economy has suffered from decades of crisis under interventionist governments whose emphasis on welfare has forced them to print money to finance spending, stoke inflation and borrow heavily only to fail to repay their debts.
Access to dollars is tightly controlled, leading to a thriving black market, and analysts warn the peso is poised for a sharp devaluation.
“There’s no room for gradualism… or half measures,” Milei said.
Javier Milei, President-elect of Argentina. (Source: AFP)
Milei’s main platform is a plan to dump the weakening peso in favor of the US dollar and Central Bank “dynamite” to eliminate the “cancer of inflation.”
But analysts warn the country has dollar reserves that are too low for such a move to be feasible in the near future.
(dnu/isa)
2023-11-20 14:40:22
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