HomeWorldA step into the...

A step into the unknown: a reformist president is elected in Argentina

Photo: Getty images

Javier Miley promised sweeping changes to correct decades of ineffective policies. However, economists warn about the possibility of another round of hyperinflation.

In Argentina, on Sunday, November 19, presidential elections were held, in which, according to preliminary data, the libertarian Javier Miley won, Bloomberg reports.

It is noted that according to the results of counting 93% of the ballots after the second round of elections, Miley received 56% of the votes against 44%, which the Argentines cast for the Minister of Economy Sergio Massa from on the left side of the Peronist coalition.

Massa conceded defeat in a speech to fans in Buenos Aires.

“The Argentines have chosen a different path,” he said.

In turn, Miley promised radical changes aimed at correcting decades of ineffective policies. The strategy has found support among a population suffering from an economic downturn, prolonged currency devaluation and one of the fastest rates of inflation in the world.

As such, Miley has a mandate to implement campaign promises, including abandoning the peso in favor of the US dollar and closing the central bank, as well as radical cuts in government spending in an attempt to pull the crisis out of the country. country of 46 million. .

The publication notes that “Miley’s shock therapy puts Argentina on a path of deep uncertainty, and some economists warn that the dollarization of the $622 billion economy at a time when international reserves are run out could send the South American country into another phase of hyperinflation.”

Meanwhile, International Monetary Fund officials called on the next government to quickly reboot the economy, stressing that there is no time for “casual policy.”

“Miley gave the clearest, but most dangerous, answer to the daily reality of rising prices, which is the biggest concern of voters,” the publication said.

The new president will take office on December 10.

Let’s remember that at the beginning of the year in Argentina, for the first time in 30 years, inflation exceeded 100%.

And in July, Argentina and the IMF reached an agreement on a tranche of $7.5 billion.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

In Latka, the skeleton of the bend and posts (photographs) was struck

As a result of the Russian attack, the number of death in Latsk increased. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Rescuers owed the body of a 27-year-old dead...

James Gunn confirms post-credit scene in ‘Superman’

With the next launch, the new creative director of the DC universe, James Gunn, confirms that 'Superman' will have scenes you creditsThe premiere of the new Steel Man movie is getting closer and closer and with it news is being released by the producers. 'Superman' will be...

Blackpink’s Jennie joins the list of ‘best albums of 2025, so far’

Blackpink member Jennie enters the list of 'best albums of 2025, so far' pleasing criticism; look!DIVA! With great influence on the music industry, Rolling Stone magazine shares annually in early June the 66 albums considered by its critics the best of the year so far. Including all...

5 Pixar movies that everyone needs to watch

In addition to Toy Story, who was the studio's first long -term movie; Check out 5 more Pixar animations that everyone needs to watch!How many Pixar movies have you watched? The studio, which emerged independently on February 3, 1986 launching only short films, took an important step...

What films make up the age of Disney’s Renaissance?

Find out what are the films responsible for composing one of the most loved eras by fans of Disney productions: the RenaissanceWith over 100 years of history, Disney is one of the main companies of world entertainment. Over the course of a century, the studio was responsible...