President-elect’s idea is a gamble that is likely to crash an economy paying the price for mistakes of his predecessor
Javier Milei’s bigger-than-expected victory in the Argentinan presidential election suggests voters in South America’s second biggest country have willingly opted for shock treatment to sort out the country’s deep economic malaise.
It is perhaps not hard to see why 56% of the electorate backed the rightwing libertarian: Argentina may have the world’s best football team but its economy has performed disastrously in recent years. Inflation is running at 140% and a three-year drought has led to a sharp fall in agricultural production. Two out of five people live in poverty and the currency has lost 90% of its value in four years.
