Javier Milei, a self-proclaimed “anarcho-capitalist,” has been elected as the new president of Argentina. He aims to make significant cuts to social spending and introduce the US dollar as the country’s currency. However, there are doubts about whether he will be able to implement these changes.
In Buenos Aires, supporters of Milei gathered at the famous obelisk to celebrate his victory. Many of the attendees were young people who expressed their hope for a better future for Argentina. Milei’s message resonated with young Argentines who are eager to see economic restructuring in the country, which currently faces annual inflation of 143 percent and a poverty rate of 40 percent.
Milei’s victory in the election have sparked discussions about his proposed policies, including the privatization of state media and natural gas and oil companies, as well as the abolition of the central bank. He also aims to replace the peso with the US dollar and reduce government spending, taxes, and social security contributions.
Although Milei’s plans are controversial, some economists believe that structural reforms are necessary to prevent hyperinflation and a severe recession. Milei has also expressed his desire for Argentina to align itself with the USA, Israel, and the free world in terms of foreign policy.
As the president-elect, Milei will have to prove that his ideas can lead to successful economic outcomes. Whether he will be able to implement his proposed policies remains to be seen.