Argentina elected right-wing libertarian Javier Milei as its new president on Sunday. With this election, the people of Argentina have placed their faith in an outsider with radical views to fix an economy battered by triple-digit inflation, a looming recession and rising poverty.
#JavierMilei #Argentina #ArgentinaPresident #SergioMassa
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#JavierMilei #Argentina #ArgentinaPresident #SergioMassa
~PR.151~ED.155~GR.122~HT.96~
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00:00 Argentina has elected right-wing libertarian Javier Mele as its new president on Sunday.
00:08 With this election, the people of Argentina have placed their faith in an outsider with
00:13 radical views to fix an economy battered by triple-digit inflation, a looming recession
00:19 and rising poverty.
00:21 Official results showed Mele with nearly 56 percent versus just over 44 percent for his
00:27 rival Peronist economy minister Sergio Masa.
00:31 In a speech, Masa congratulated Mele and said that the libertarian now needed to show his
00:36 readiness to rule.
00:38 In downtown Buenos Aires, hundreds of Mele supporters honked horns and chanted his popular
00:44 refrain against the political elite.
00:46 According to reports, Mele is pledging economic shock therapy.
00:50 His plans include shutting the central bank, ditching the peso and slashing spending, potentially
00:56 painful reforms that resonated with voters angry at the economic malaise.
01:00 Mele's challenges are enormous.
01:03 He will have to deal with the empty coffers of the government and central bank, a creaking
01:07 $44 billion debt program with the International Monetary Fund, inflation nearing 150 percent
01:13 and a dizzying array of capital controls.
01:17 Some Argentines had categorised the vote as a choice of the lesser evil, fear of Mele's
01:22 painful economic medicine versus anger at Masa and his Peronist party for an economic
01:27 crisis that has left Argentina deeply in debt and unable to tap global credit markets.
01:33 Mele has criticised China and Brazil, saying that he won't deal with communists and favours
01:38 stronger US ties.
01:40 He is a 53-year-old economist and former TV pundit.
01:44 He staunchly anti-abortion, favours loser gun laws and has criticised Argentine Pope
01:48 Francis.
01:49 He used to even carry a chainsaw as a symbol of his planned cuts but shelved it in recent
01:54 weeks to help boost his moderate image.
01:57 His rise has broken the hegemony of the two main political forces in Argentina, the Peronists
02:03 and the main Together for Change conservative bloc.
02:12 [MUSIC PLAYING]