Amid Economic Turmoil, Argentinians Contemplate Empowering Anti-Establishment Populist

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As Argentina faces a pivotal moment this Sunday, disillusioned voters are considering the option of bestowing the presidential mantle on a disruptive, right-wing populist who promises sweeping reforms in governance.

Javier Milei, an economist identifying as an anarcho-capitalist and a proponent of former U.S. President Donald Trump, has left an indelible mark on the national consciousness by leading the August primaries. Making his debut in politics as a freshman legislator, Milei advocates for a drastic reduction in public expenditure, plans to cut the number of governmental departments by half, aims to dissolve the central bank, and proposes to supplant the Argentine peso with the U.S. dollar.

Initially gaining recognition for his impassioned critiques of what he refers to as the “political caste” on national television, Milei has garnered the support of a populace burdened by a staggering 140% annual inflation rate and a rapidly diminishing currency value. His broader vision involves a transformation of Argentine society, positioning himself as a bulwark against what he perceives as the menacing influence of socialism, both domestically and internationally.

According to Benjamin Gedan, who helms the Latin America program at the Washington-based Wilson Center, Argentina is on the cusp of a volatile period. He predicts a fraught landscape characterized by societal polarization, a fragmented legislature, an unseasoned and confrontational leader, and an economy teetering on the brink of collapse.

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The voting process commences at 8 a.m. local time and lasts for 10 hours. Due to the utilization of paper ballots, election outcomes are difficult to forecast; however, preliminary results are anticipated approximately four hours post-closure of the polling stations.

Pre-election surveys, notorious for their inaccuracies, suggest a marginal lead for Milei, albeit insufficient to preclude a November runoff. To claim an outright victory, a candidate must secure 45% of the votes or achieve 40% with a 10-point lead over the nearest competitor.

Regardless of the election outcome, Milei has already made an indelible impact on a political landscape that has been predominantly governed by centrist coalitions for nearly two decades.

Patricia Bullrich, the former Security Minister representing the primary opposition alliance, contends with Milei for conservative support and argues that her group possesses the necessary expertise and legislative connections to usher in the required changes.

Sergio Massa, the current Economy Minister and a key player in the center-left regime since 2019, endeavored to consolidate his base despite soaring inflation rates during his tenure. He attributes recent economic woes to a devastating drought affecting exports and claims to have mitigated worse outcomes.

On the Argentine streets, skepticism reigns. Those who have some disposable income are stockpiling essentials, anticipating a prospective devaluation of currency. Following the primaries, the government devalued the peso by nearly 20%, prompting citizens to purchase dollars and withdraw hard currency from banking institutions.

Alfredo Adrián Fernández, a 36-year-old bakery worker, encapsulates the prevailing sentiment: “We’re exhausted from experiencing our salaries being eroded by hyperinflation,” he states.

In the closing moments of the campaign, both Massa and Bullrich unleashed their rhetorical arsenal to caution voters against choosing Milei, depicting him as a perilous choice. Massa specifically warned that Milei’s radical proposals could jeopardize social welfare schemes, educational infrastructure, and healthcare—sectors that Milei has vowed to dismantle.

Milei has cast his principal opponents as entrenched members of a corrupt political system that has driven South America’s second-largest economy into abject failure. His message resonates strongly with a population disenchanted by the deteriorating economic climate under successive regimes that included both Massa and Bullrich.

Additionally, Milei takes a strong stand against what he terms the “socialist agenda,” opposing policies related to sex education, feminism, and abortion, which is legal in Argentina. He questions the concept of social justice as “an aberration” and disputes the anthropogenic causes of climate change.

As Milei gains traction on the international stage, he enjoys endorsements from like-minded leaders such as Brazil’s former far-right president, Jair Bolsonaro. Milei’s campaign headquarters will also host members of Spain’s far-right Vox party.

The Argentine election is taking place against a backdrop of anti-establishment sentiment and a surge in political outsiders across Latin America. Milei, like Trump and Bolsonaro before him, has cast aspersions on the electoral process, alleging that he lost up to five points due to fraudulent practices in the primaries, though he has not filed any formal complaints. Political analysts caution that such allegations might set the stage for Milei to challenge the legitimacy of Sunday’s election outcome.

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