the ultraliberal and “anti-system” Javier Milei wins the presidential election and prepares shock therapy

2023-11-20 06:15:00

Exhausted by an economy on its knees, the Argentinians made a decision. And it did not play out “down to the vote” as many analysts predicted for this tense and indecisive election as rarely in the 40 years since the return of democracy. Two years following his arrival in the Argentine political landscape, the ultraliberal economist and “ anti-system » Javier Milei, who promised to clear the “ parasitic political caste », the Peronist and liberal governments succeeding one another for 20 years, will be the next Argentine president following having largely won the second round of the presidential election with 55.95% of the votes, once morest 44.04% for his rival, the centrist minister of Economy Sergio Massa.

« Terre promise »

A bomb which opens a period of uncertainty for the 3rd largest economy in Latin America, to which he promises shock therapy. Resolved to “ cut » l’« enemy state » and to dollarize the economy, the 53-year-old polemicist, popular on TV sets, promised in his victory speech “ the end of decadence » and the “ reconstruction of Argentina » to make the country “a world power” once more as when it was “ terre promise » of emigration, at the beginning of the 20th century. A theme of “ greatness regained » which is reminiscent of Donald Trump, for whom he expressed his admiration.

We are far from it today with chronic inflation, now at three figures (143% over one year), four out of ten Argentines below the poverty line, pathological debt and a currency that is falling. Milei therefore captured the anger of the Argentines even if his desire to dry up public spending in a country where 51% of the population receives social assistance also frightened them. Economic measures are expected quickly. The country is in fact under pressure from the budgetary rebalancing objectives of the International Monetary Fund (IMF), to which Argentina is painfully repaying a colossal loan of 44 billion dollars granted in 2018.

Shock therapy

The president-elect, who takes office on December 10, has warned that there will be “ no half measures. »

“We are facing monumental problems: inflation, stagnation, the absence of real jobs, insecurity, poverty and misery,” listed the president-elect.

« There is no room for lukewarmness or half-measures », warned the one who for two years has advocated, in particular, cuts “ with a chainsaw » in public spending. He reiterated his determination “ to put the budgetary accounts in order, and resolve the problems of the Central Bank “, an institution that he said he wanted ” dynamite ».

If he reached out to “all Argentines and political leaders” wanting to join him, the president-elect also warned of possible social resistance to his reforms.

“We know that there are people who will resist, who will want to maintain this system of privileges for some but which impoverishes the majority. I tell them this: whatever is in the law is permitted, but nothing (that which is) outside the law.”

Necessary compromises?

“Milei campaigned promising quick results. We all see that this is not possible, but this is the idea that has penetrated his electorate: quick change, the chainsaw. So I think there will be little time for a honeymoon,” predicted Lara Goyburu, political scientist from the University of Buenos Aires.

For political scientist Gabriel Vommaro, from the University of San Martin, Javier Milei, through his bellicose speech, particularly towards mobilized sectors, such as the public service, brings a risk “ of political-social confrontation “. However, in a Parliament where his young party, La Libertad Avanza, is only the 3rd force (38 deputies out of 257), he will have to be forced to make compromises.

Abroad, leaders for whom Milei had expressed an affinity warmly congratulated him: former US President Donald Trump expressed his conviction that he would “ make Argentina a great country once more “. And former Brazilian President Jair Bolsonaro declared that “ hope shines once more ” In the region. Washington a « felicity » Javier Milei for his victory, Secretary of State Antony Blinken saluting “la high participation and the peaceful conduct of the vote ».

As for Brazilian President Lula, whom Milei had described as a “corrupt communist”, he wished “ good luck and success » to the new Argentine government, in a message on the social network X in which he did not mention Javier Milei.

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