Stocks soar in Argentina after Javier Milei's election victory

teleSUR English

Following Javier Milei's victory in the Argentinean presidential elections, the Buenos Aires Stock Exchange experienced a remarkable rally on Tuesday. teleSUR

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00:00 Argentina's stock market reacted with optimism on Tuesday to the resounding election victory

00:04 of libertarian Javier Millet.

00:06 The market rose 20% when it opened on Tuesday, showing its first reaction to Javier Millet's

00:11 resounding win.

00:12 The rise was led by state oil company YPF, whose shares rose 34% after the president-elect

00:18 announced he would privatize it as part of his package of reforms.

00:22 Millet, a 53-year-old economist and outsider, fronts Argentina's long-dominant Peronist

00:27 coalition as voters punish the government for decades of economic decline, with annual

00:32 inflation at 143%.

00:34 Millet has vowed to teach the Argentinian peso for the US dollar and shut down the central

00:39 bank, which he accused of rampant money printing to finance government overspending.

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