Argentina elections
Argentine markets surge with optimism on Milei election
Latin America's third-biggest economy is creaking under annual inflation of 143 percent.
The 53-year-old outsider, who has drawn comparisons with former US president Donald Trump and Brazil's Jair Bolsonaro for his abrasive style and controversial remarks, vowed to "very quickly put public accounts in order."
One supporter dressed up as a lion, while another wore a makeshift chainsaw on his head -- a nod to the power tool Milei carried around during his campaign, vowing to slash government spending.
Latin America's third-largest economy is creaking under triple-digit inflation after decades of recurrent fiscal crises marked by debt, financial mismanagement, and a volatile currency.
Fury and fatigue after decades of economic crises provided fertile ground for outsider Javier Milei, a libertarian who surged to the front of the race with his vow to take a chainsaw to the bloated state and dollarize the economy.
Argentines are heading into the vote with annual inflation at over 120% and record poverty levels, as economic malaise in the South American giant reaches a new crescendo.
In his inaugural speech, Macri vowed to grow the economy, lift all Argentines out of poverty & tackle graft.
Argentina’s election body said Mauricio Macri had 52.1 percent of votes & Daniel Scioli had 47.9 percent.