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LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

December 3, 4889

What Will Milei’s Presidency Mean for Argentina?

Javier Milei, who has proposed dollarizing Argentina’s economy and eliminating the central bank, was elected the country’s president on Sunday. // File Photo: Facebook Page of Javier Milei.

Q

  • Right-wing libertarian Javier Milei was elected Argentina’s president on Sunday, defeating current Economy Minister Sergio Massa, who conceded, by a margin of nearly 12 percentage points. Milei faces an economy with triple-digit inflation and rising poverty, and he has vowed radical actions including dollarizing the economy and closing the central bank. He has called climate change “a lie of socialism” and said he would cut ties with China and Brazil, saying he does not want to “do business with communists.” What are the major factors that led to Milei’s victory? What are the biggest changes Argentina will see during his presidency? What is the future of Argentina’s relations with other countries in Latin America, as well as the United States and China, under Milei?

A

Juan Cruz Díaz, managing director at Cefeidas Group in Buenos Aires: “Javier Milei’s rise to the presidency stems from a confluence of factors tapping into widespread discontent with the ruling coalition. The economic downturn, characterized by rising inflation and poverty rates, provided fertile ground for Milei to exploit public dissatisfaction. Fatigue with the political status quo, particularly Kirchnerism, allowed Milei to leverage opposition proposals, notably from the Juntos por el Cambio (JxC) coalition. Initially propelled by an anti-establishment narrative, Milei strategically shifted post-election, adopting a more conciliatory tone. Reconciliation with JxC’s Patricia Bullrich and former President Mauricio Macri played a pivotal role in securing crucial support and JxC votes, contributing to Milei’s victory in the second round. Milei’s presidency promises substantial…”

Top News

China Warns Argentina Against Breaking Ties
China’s government today warned Argentina’s president-elect against breaking relations with Beijing, saying such a move would be “a huge foreign policy mistake.”
U.S. Settles Ecuador Bribery Case With U.K. Insurance Brokers
The U.S. Department of Justice announced Monday that it had settled a case with two Britain-based insurance brokers in which they bribed officials in Ecuador.
Mexican President Issues Decree on Passenger Rail Service
Mexican President Andrés Manuel López Obrador issued a decree on Monday mandating that passenger rail service take precedence over commercial freight. // File Photo: Mexican Government.

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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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Ernesto Revilla
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