Argentina has elected libertarian outsider Javier Milei as its next president, taking a chance on the eccentric economist’s programme of radical economic reform after decades of stagnation.
Milei’s win heralds a dramatic shake-up of the Latin American country’s economy and institutions amid public anger over high inflation and record poverty rates under the centre-left Peronist coalition.
In an address to Argentinians on Sunday night, Milei said his victory marked the beginning of the “reconstruction of Argentina.”
“Today begins the end of Argentina’s decline,” he said. “Today ends the impoverishing model of the omnipresent state, which only benefits some while the majority suffers.”
In the capital Buenos Aires, hundreds of Milei supporters honked horns, set off fireworks, and chanted his popular refrain against the political elite, “Out with all of them!”, as rock music played.
Economic Minister Sergio Massa earlier conceded defeat as provisional results in the run-off election showed Milei with 56 percent of the vote to his 44 percent, with nearly 90 percent of votes counted.
“Obviously the results are not what we had hoped for, and I have spoken to Javier Milei to congratulate him and wish him well, because he is the president that the majority of Argentines have elected for the next four years,” Massa said.
Milei, a self-described “anarcho-capitalist”, has promised a series of radical reforms, including slashing public spending by 15 percent, abolishing the central bank and switching the Argentinian peso to the United States dollar.
The 53-year-old political maverick, whose abrasive style has drawn comparisons with former US President Donald Trump, has also staked out conservative positions on social issues, opposing abortion and sex education, and railing against political correctness.
