Argentina holds runoff vote to choose economic savior amid crisis. What's at stake?
Argentina heads to vote on Sunday to choose from option to bring the Argentine economy out of an economic catastrophe. The contestants- Economy Minister Sergio Massa, from the ruling Peronist party, against libertarian outsider Javier Milei. Milei stands out for displacing a traditional center-right coalition in the first round of voting last month.
Voting booths close at 6 pm and official results are expected late Sunday night. The winner of the popular vote will take office December 10, starting a four-year term. -High Consumer Prices jumping 143% a year -A relentless currency depreciation -Looming Recession -Hyperinflation -Complete social crisis A policy mistake and Latin America's second largest economy could have a bleak future.
The proposals put forth by the two finalists couldn’t be more different, from how to handle the economy to the ideal role and size of the state to how to carry out foreign policy. Massa, who’s been in charge of the economy as inflation soared into triple digits, has pledged gradual changes to balance the budget next year. He favors a multilateral approach in relations with the US, China and South American neighbors.
Milei, on the other hand, has vowed to slash government spending, close the central bank and replace the peso with the US dollar as part of a strategy to rein in inflation. He has called the Chinese “assassins" and said he wouldn’t talk with “communist" governments in Latin America, including those of Brazil, Colombia and Chile. After years of political scandals and economic crises under Peronist governments, many expected the political force that dominated Argentina’s politics for the past 70 years to have its worst electoral performance ever.
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