President-elect Milei vows ‘end of Argentina’s decline’

Milei, the incoming president, promises to put an end to Argentina’s decline.

By dissolving the populist Peronist coalition, which has long dominated Argentine politics, the self-described “anarcho-capist” caused a huge uproar.

Sergio Massa, the economy minister, was defeated by Milei with 55.7 percent of the vote after winning 44 % and quickly admitting defeat.

” The reconstruction of Argentina starts today.” In his victory speech, Milei declared that Argentina’s decline was coming to an end today. ” The decadence model has come to an end.” There is n’t a way out.

Under welfare-focused interventionist governments that print money to finance spending, inflate inflation, and borrow heavily only to default on their debt, Latin America’s third-largest economy has experienced decades of crises.

Analysts warn that the peso is poised for a sharp devaluation because of the tight controls on access to money, which has resulted in an active black market for greenbacks.

Milei declared,” There is no room for gradualism… or half-measures.”

Milei’s main platform has been to “dynamite” the Central Bank to end the” cancer of inflation” by trading the struggling peso for the US dollar.

However, analysts caution that the nation’s dollar reserves are insufficient for the move to take place anytime soon.

” This is the change that young people desire.” My dad wo n’t be able to pay his rent, not Milei, is what I’m afraid of. Juan Ignacio Gomez, 17, said that the Argentine peso is worthless.

” I am not afraid,” she said.

Outside his campaign headquarters, thousands of Milei supporters cheered while waving flags and chanting “freedom.”

” Peronism has had its fill. Writer Nacho Larranaga, who is 50 years old and is sporting the blue and white Argentina flagas as a cape, said,” Milei is an unknown, but he’s better off being insane than stealing.”

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Milei, a 53-year-old economist with thick sideburns and wild hair, has been compared to Jair Bolsonaro of Brazil and former US president Donald Trump for his sarcastic demeanor and divisive remarks.

On social media, he received congratulations from both former presidents.

Washington “looks forward to working with President-elect Milei and his government on shared priorities,” according to US Secretary of State Antony Blinken.

Milei had vowed not to “do business with communists” while on the campaign trail in order to sever ties with China and Brazil, two of his nation’s top trading partners.

President of Brazil, Luiz Inacio Lula da Silva, wished the new Argentine government” good luck and success” after Milei’s victory.

China congratulated the newly elected president on his victory and announced on Monday that it would continue working with Argentina.

At a regular briefing, foreign ministry spokeswoman Mao Ning stated that China has always given strategic and long-term relations between China and Argentina great importance.

Milei opposes abortion, has disparaged Pope Francis, questioned the number of people who died as a result of Argentina’s brutal dictatorship, and asserts that climate change is not caused by humans.

He began his campaign by brandishing a powered-up chainsaw to represent the drastic changes he intended to make to an inflated state.

” The lesser evil”

The” thieving and corrupt political class” was the target of Milei’s red-faced protests, which angered the Argentines who were struggling to make ends meet and who they saw as the cause of their misery.

He fired up young people as a major part of his campaign on TikTok and other social media platforms.

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Others were alarmed by his election style, which polarized the country.

At Massa’s campaign headquarters, teacher CatalinaMiguel, 42, described herself as being in” shock” among a dejected crowd.

” Milei will stand up for every right he challenges on the street.” He is not supported by half of Argentina.

Millions of Argentines who rely on welfare benefits and generous government subsidies for fuel, electricity, and transportation– with bus tickets only costing a few cents– are on the other end of Milei’s chainsaw.

The InternationalMonetary Fund is looming over the incoming government, and the nation’s coffers are in the red with a$ 44 billion debt.

” Quick decisions”

Argentina should prepare themselves, according to political analyst AnaIparraguirre.

” Everyone who assumes office must make some snap decisions that will harm people.”

Analysts foresee a rocky ride with the strictly regulated peso ripe for devaluation as Milei is scheduled to take office on December 10 and Massa will remain in charge of the economy for three weeks.

Argentina, according to Michael Shifter of the Inter-American Dialogue think tank in Washington, “is part of a regional trend of real weakening of political parties and the emergence of an outsider who… has power message… and then everything will be okay.”

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