Argentina's Peronists soar in election to seal run-off with radical Milei (www.reuters.com)

submitted 3 years ago by HowRu68@lemmy.world to c/world@lemmy.world

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BUENOS AIRES, Oct 22 (Reuters) - Argentina's ruling Peronist coalition smashed expectations to lead the country's general election on Sunday, setting the stage for a polarized run-off vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei.

Massa had 36.6% of the vote, ahead of Milei on just over 30%, while conservative Patricia Bullrich was behind on 23.8% with near 98% of the vote counted, a result that defied pre-election polls that had predicted a libertarian win.

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[-] autotldr@lemmings.world 3 points 3 years ago

This is the best summary I could come up with:

The surprise strength of the Peronists, despite overseeing inflation hitting triple digits for the first time since 1991, sets up an intriguing second round on Nov. 19 between two polar opposite economic models for the embattled country.

The result eases concerns about a radical shift in policies in the event of a decisive win for Milei who has proposed dollarizing the economy and shutting the central bank, but it still leaves the country with few answers to its worst economic crisis in two decades.

Many blamed the Peronists, but Massa - a moderate - had shot back that the government's social safety nets and subsidies were key for many hard-up Argentines, including a recent stunt showing how train and bus fares could rise sharply if he lost.

The result, leaving things delicately poised and pushing out of the race establishment candidate Bullrich, will likely give already wobbly markets the jitters on Monday, with little clarity about the country's route forward.

Whoever emerges victorious will have to deal with an economy on life support: central bank reserves are empty, recession is expected after a major drought, and a $44 billion program with the International Monetary Fund (IMF) is wobbling.

The original article contains 655 words, the summary contains 239 words. Saved 64%. I'm a bot and I'm open source!

[-] SeaJ@lemm.ee 3 points 3 years ago

Talk about a choice between a shit sandwich and a douche canoe. Peronists absolutely destroyed the Argentine economy over the past two decades. Milei is a fucking whacko to the other extreme though.

[-] notaviking@lemmy.world -1 points 3 years ago

Really hope Javier Milei can win, Peronist has run an once prosperace country into the ground the last couple of decades. Massa cut like all tax to bribe his way again to a win, whilst not even reducing their government spending an asking the IMF to forgive their latest loan. Yet the libertarian Milei is said to be a lunatic for trying to cut down on big government, allow a free market economy.

[-] ChairmanMeow@programming.dev 7 points 3 years ago

Milei wants to do a little bit more than simply cutting down on big government. Yes, cuts are needed, but he also wants to cut some pretty essential departments alltogether. And that's on top of some nutty ideas like legalising the human organ trade (literally who asked for that?!).

He's a self-described "anarcho-capitalist" who does libertarian populism. These ideas are not a recipe for economic revival, it's guaranteed economic doom.

The desire for change is justified, but not all change is good.

this post was submitted on 25 Oct 2023

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