Voters head to polls in Argentina amid more economic gloom
October 22, 2023
Voters in Argentina cast their ballots on Sunday to vote in a general election during the country's worst economic crisis in two decades.
The election has shaped up to be a three-way race between candidates who have promised to bring the country back from the brink at a time when the price of basic groceries can fluctuate within hours.
With inflation standing at 140% year-on-year, more than a third of the population living in poverty and a middle class brought to its knees, many voters are keen to break with the traditional parties that they see as the architects of the country's pain.
"People want things to change," the head of Argentine consulting firm Aresco, Federico Aurelio, told Reuters. "How? They have no idea, but they want something different."
Who are the candidates?
Libertarian economist Javier Milei is currently leading opinion polls. He is an insurgent candidate who only formed his political party, Libertad Avanza (Freedom Advances), in 2021.
The former TV pundit made a name for himself with his tirades against the "political caste" and has expressed admiration for former US President Donald Trump.
He has promised to "chainsaw" the economic status quo by ditching the peso for the US dollar, shutting down the central bank, reducing the size of the government, and privatizing Argentina's state-owned entities.
Representing the ruling center-left coalition is Economy Minister Sergio Massa, who oversaw inflation hitting triple digits for the first time since 1991.
He has pledged to stick with the peso and defend the Peronist social safety net, while repeatedly promising to voters that "the worst is over."
Polling in a close third place is conservative former Security Minister Patricia Bullrich, who has also pledged to reel in spending.
She served in the government of former President Mauricio Macri (2015-2019), a pro-market, non-Peronist leader who failed in his promise to shrink the budget and took out a record $44 billion loan with the International Monetary Fund.
What's next for Argentina?
The first results are expected to roll in at around 9 p.m. local time (00:00 UTC/GMT).
A candidate needs to win more than 45% of the vote, or 40% plus a 10-point lead, in order to avoid heading to a runoff election. The runoff would be held on November 19.
"Argentina is in for a wild ride," Benjamin Gedan, director of the Latin America program at the Washington-based Wilson Center, told the Associated Press.
"The most likely scenario is rather worrisome, a polarized society, divided congress, combative and inexperienced leader and an economy hurtling toward an abyss."
zc/dj (AP, AFP, Reuters)