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 take care of Argentina’s hovering inflation and rising poverty.
“The mannequin of decadence has come to an finish, there isn’t any going again,” Mr Milei stated in a defiant speech after profitable 56% of the vote versus simply 44% for his rival, economic system minister Sergio Massa, who conceded.
It was the widest victory margin in a presidential race because the South American nation returned to democracy in 1983.
“Now we have monumental issues forward: inflation, lack of labor, and poverty,” he stated. “The state of affairs is crucial and there’s no place for tepid half-measures.”
Annual inflation hit 142.7% in Argentina in October – with the month-to-month rise touchdown at 8.3%, though that was down from peaks in August and September.
Mr Milei’s plans to repair the economic 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 faculties and favours looser gun legal guidelines.
He used to carry a chainsaw at his rallies as a logo of his deliberate cuts.
Mr Milei favours stronger ties with the US and has criticised China and Brazil, saying he will not take care of “communists”.
Regardless of that, Brazilian President Luiz Inacio Lula da Silva wished Mr Milei luck and success, including that it was essential democracy was revered.
‘I’m very happy with you,’ Trump says
Mr Trump congratulated him on his victory on Fact Social, writing: “The entire world was watching! I’m very happy with you.
“You’ll flip your Nation round and actually Make Argentina Nice Once more!”
Brazil’s former president Jair Bolsonaro tweeted: “Hope is glowing in South America as soon as once more” as he celebrated what he referred to as a victory for “honesty, progress and freedom”.
Nonetheless, Colombia’s leftist President Gustavo Petro stated it was a “unhappy day” for the area.