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Argentina elects president who has promised to cut government spending with a chainsaw as part of shock therapy

The ultra-liberal economist Javier Millay, who promised in the election campaign to implement “shock therapy’ to address Argentina’s economic problemswill be the next president of Latin America’s third largest economy, his centrist rival, Economy Minister Sergio Massa, acknowledged last Sunday night.

Javier Millay, 53, “is the president elected by the majority of Argentines for the next four years,” said Mr. Massa, who came out on top in the first round of elections on October 22.

Moments after the first partial results were announced, the Peronist (center-left) coalition candidate told supporters gathered outside his campaign headquarters in Buenos Aires that he had called Mr. Miley “to congratulate him and to wish him luck.”

Javier Millay promised radical pre-election measures as part of shock treatmentamong others the abolition of the central bank, the abandonment of the peso and the dollarization of the economy and the drastic cut in public spendingwho interpreted it as going through a “chainsaw” — potentially painful reforms for a large portion of citizens.

Nevertheless it has attracted sections of the population who say they have become destitute because of the deep economic crisiswith the main characteristics of triple-digit inflation (approaching 150%), the continued devaluation of the national currency, the large foreign debt ($44 billion).

THE Mr. Miley’s victory will transform – beyond Argentina’s political scene – and its foreign policyas the next president declares that he wants nothing to do with “communists”, referring to Brazil and China, while will seek a closer relationship with the US.

Often referred to as Donald Trump of Argentina, Millay embraces a mixture of love for the ideals of capitalism with socially conservative policies, including opposition to abortion, which Argentina legalized in 2020.

From the other side, favors the free sale of firearms and human organs: “Why does everything have to be regulated by the state? My first property is my body“, says.

The introduction of the US dollar and the closure of the Central Bank are two of the measures he promises along with the privatization of state-owned public enterprises.

Some supporters also use props to mimic the chainsaw that Miley has often held aloft at rallies to symbolize what he wants to do with government spending. The economist and dog lover has made it clear that there will be cuts to key social issues such as health, education and social development.

Source: News Beast

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