Sergio Massa, the Economy Minister, surprised the public by securing the first place in the opening round of Argentina's presidential election. This result was a reflection of the apprehension among voters regarding the possibility of electing his chief rival, a right-wing populist who has disrupted national politics and has pledged to significantly reduce the state. Massa defeated his primary opponent, Javier Milei, a freshman lawmaker and economist who gained recognition for the chainsaw he carried to campaign events, which symbolized his commitment to altering the status quo and reducing government expenditure. Massa's triumph was achieved in spite of the fact that inflation experienced a significant increase during his tenure, which diminished the purchasing power of salaries and increased poverty. Nevertheless, he was not penalized during the voting on Sunday. Massa and Milei will participate in a runoff election on November 19, as they each secured 36.7% of the vote and 30%, respectively, after nearly all ballots were counted early Monday. Milei had a minor advantage over Massa in the majority of pre-election polls, which have been notoriously unreliable.
Patricia Bullrich, the former security minister of the primary center-right opposition coalition
secured 23.8% of the vote to secure the third position in a field of five candidates. Concentrated on the cutbacks that the opponent intended to implement Since 2019, Massa has been a prominent figure in the centre-left administration that has been in power. According to Mariel Fornoni of the political consulting firm Management & Fit, he effectively concentrated his messaging on the impact of Milei's proposals to reduce the size of the state on the daily lives of Argentines, which included halving the number of government ministries and implementing significant expenditure cuts. That particular incident "had a significant impact and evidently instilled more fear than anything else," According to Fornoni. Andrei Roman, CEO of Atlas Intel, a pollster based in Brazil, stated that the latest survey, which was one of the few to place Massa ahead, was influenced by a lower abstention rate than in the primary elections conducted in August. On Sunday, approximately 78% of the electorate participated in the election, which is approximately eight percentage points higher than the primaries in which Milei emerged victorious. Milei, a self-described anarcho-capitalist who admires former U.S. president Donald Trump, garnered a significant amount of support by advocating for the abolition of the Central Bank, the replacement of the local currency with the U.S. dollar, and the purging of the corrupt establishment, which he referred to as the "political caste."
Uncertainties regarding the economy
The streets of Argentina were characterized by a palpable sense of apprehension in the days leading up to the election. In anticipation of a potential currency devaluation, individuals purchased products, as they were aware that the government devalued the peso by nearly 20% the day following the August primaries. Additionally, the peso's gradual depreciation was further exacerbated by the purchase of dollars and the withdrawal of hard currency deposits from institutions by Argentines. Argentina's subsequent president may be a libertarian who wields a chainsaw. Massa's current campaign is a continuation of his dissatisfying third-place finish eight years ago, which resulted in his elimination from the race. This time, he will have the opportunity to participate in the runoff. The outcome of that contest will determine whether Argentina will maintain a center-left administration or shift significantly to the right. Massa, 51, emerged victorious in Sunday's election, despite the currency's decline and inflation reaching 140% during his tenure. He informed electors that the situation he inherited was already dire, but it was further exacerbated by a devastating drought that decimated exports. He also assured them that the worst had passed.
In the final days of the campaign
He concentrated a significant amount of his resources on cautioning voters against supporting Milei, portraying him as a perilous upstart. He contended that Milei's initiatives could have catastrophic consequences for education, health care, and social welfare programs. Milei intends to eliminate the health, education, and social development ministries. Appealing to other parties The next Congress will be sharply divided, with the ruling coalition maintaining the most seats in the lower house and Senate, despite the fact that the figures were not yet final. According to Atlas Intel's Roman, Milei and two other candidates were the only candidates to garner right-wing support, while Massa had already secured nearly all of the left's backing. Massa indicated on Sunday evening that he intended to solicit support from members of other parties in order to participate in the runoff. "I'm going to call for a government of national unity — a government of national unity built on the foundation of summoning the best individuals, regardless of their political affiliation," said the president. Its advantages include proximity to end markets, established regulations, clean energy, low labor costs, and Latin America's first magnet plant, which would guarantee an available buyer for the metals. However, the Latin American nation's aspirations to become one of the world's top five rare earths producers are impeded by technical difficulties, low prices for rare earths, and apprehensive financiers. The rate at which Brazil's rare earths projects are completed will serve as a gauge of the West's ability to establish a new, sophisticated industry from the ground up in order to disrupt China's influence.
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