Argentina has elected a right-wing populist generally known as “el Loco” (the Madman) as its new president.
Javier Milei, a self-described anarcho-capitalist who has been in comparison with former US president Donald Trump, promised to cope with Argentina’s hovering inflation and rising poverty.
“The model of decadence has come to an end, there’s no going back,” Mr Milei mentioned in a defiant speech after successful 56% of the vote versus simply 44% for his rival, financial system minister Sergio Massa, who conceded.
It was the widest victory margin in a presidential race for the reason that South American nation returned to democracy in 1983.
“We have monumental problems ahead: inflation, lack of work, and poverty,” he mentioned. “The situation is critical and there is no place for tepid half-measures.”
Mr Milei’s plans to repair the financial system embody shutting the central financial institution, ditching the peso and slashing spending.
The 53-year-old economist and former TV pundit is staunchly anti-abortion, opposes intercourse training in colleges and favours looser gun legal guidelines.
He used to carry a chainsaw at his rallies as an emblem of his deliberate cuts.
Mr Milei favours stronger ties with the US and has criticised China and Brazil, saying he will not cope with “communists”.
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Despite that Brazilian President Luiz Inacio Lula da Silva wished Mr Milei luck and success, including that it was essential democracy was revered.
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Mr Trump congratulated him on his victory on Truth Social, writing: “The whole world was watching! I am very proud of you.
“You will flip your Country round and actually Make Argentina Great Again!”
Brazil’s former president Jair Bolsonaro tweeted: “Hope is glowing in South America as soon as once more” as he celebrated what he called a victory for “honesty, progress and freedom”.
However, Colombia’s leftist President Gustavo Petro said it was a “unhappy day” for the area.