Javier Milei, a libertarian candidate with radical solutions to Argentina’s economic crisis, won Sunday’s presidential runoff against Economy Minister Sergio Massa.
Massa conceded in a speech to supporters in Buenos Aires on Sunday before the official results were released, saying he called Milei to congratulate him on his victory.
Massa, from the ruling Peronist coalition, placed first in October’s first round, a remarkable comeback after losing a primary election two months previously. But the dire state of Argentina’s economy, plagued by 143 percent inflation and a looming recession, posed a challenge too far to his presidential bid.
Milei has promised to fix Argentina’s perennial economic problems by making drastic budget cuts, replacing the battered peso with the US dollar and shutting down the Central Bank.
by Walter Brandimarte, Bloomberg