Argentina is gearing up to elect its next president amidst an economic crisis that has left the country in a state of anguish and discontent. The leading contenders in the elections are Javier Milei, an ultra-rightist proposing to dismantle the political elite; Minister of Economy Sergio Massa, a peronist; and conservative Patricia Bullrich.
Milei, a 52-year-old economist, has gained popularity with an extremist discourse promising to dollarize the economy and abolish institutions like the Central Bank and the Ministry of Women. His rise in the polls reflects widespread dissatisfaction due to years of economic stagnation and an inflation rate nearing 140% annually.
Argentina, Latin America’s third-largest economy, has been grappling with over a decade of economic stagnation and a significant increase in the poverty rate, affecting over 40% of the population. The Argentine peso is in free fall, prompting citizens to seek refuge in the US dollar and purchase electronics ahead of potential price hikes post-elections.
Uncertainty and fear have characterized this election campaign, with voters feeling frustration and distrust towards the candidates. The elections, scheduled for this Sunday, will determine the country’s future as Argentinians grapple with crucial economic decisions and brace for a period of political instability. The election results could shape Argentina’s trajectory in the coming years amidst an increasingly tense political and economic climate.