Javier Milei, a far-right outsider, becomes the president of Argentina

In a significant political shift, Javier Milei has won Argentina’s presidential election, according to provisional results, marking a stark move to the right for the country. His victory comes amidst one of the highest inflation rates in the world and draws parallels with the anti-establishment approach of former U.S. President Donald Trump.

Sergio Massa, Milei’s opponent, conceded the run-off vote on Sunday evening before the official results were announced. With over 94% of votes counted, provisional results indicate that Milei has secured over 55% of the votes, as per data from Argentina’s National Electoral Chamber. While an official winner has yet to be declared, Milei’s lead is significant.

Milei’s success is remarkable for a former television pundit who campaigned on a platform of breaking away from the status quo, symbolized by Sergio Massa. His proposal to dollarize Argentina’s economy, a radical shift for a country of Argentina’s size, is anticipated to bring substantial changes, entrusting the country’s monetary policy to U.S. decision-makers.

Known for his social conservative stance, Milei opposes abortion rights and dismisses climate change, aligning himself with right-wing ideologies in the U.S. His proposed policies include drastic government spending cuts, privatization of the health sector, and reforms in education and cultural ministries.

Milei’s campaign style, characterized by dramatic gestures like wielding chainsaws and making controversial statements, has drawn attention both domestically and internationally. His political positions, including tough-on-crime measures and deregulation in various sectors, mirror those of populist leaders like Trump.

Despite controversies, such as his initial support for a market for organ transplants and derogatory remarks about Pope Francis, Milei’s approach resonated with voters weary of the ongoing economic crisis under Massa’s tenure as economy minister. The failure of Massa’s campaign to address the soaring inflation and cost-of-living crisis contributed to voters’ inclination towards Milei’s promise of change.

Milei’s victory represents a potential resurgence of far-right populism in Latin America. His endorsement by former Brazilian President Jair Bolsonaro and the active involvement of leftist leaders like Lula da Silva and Gustavo Petro in backing Massa indicate the election’s broader regional significance.

As the world observes Milei’s ascent to power, the implications of his presidency for Argentina and the region will be closely monitored.

This is a breaking news story and will be updated.