On Sunday, Argentine President-elect Javier Milei won a landslide victory and outlined his plans for economic reform. The 53-year-old announced that it could take 18-24 months to get inflation under control, with a poverty rate of 40%. Despite this, he does not believe in the need for abortion or that climate change is humanity’s fault.
Milei has promised to keep everything in the hands of the private sector, including YPF and state media. He has also said that he will not continue fighting the country’s economy with the same tactics as before. Instead, he plans to work with the private sector to reform the country’s state.
One of Milei’s most popular ideas is to replace the weakened peso with the US dollar while having the public choose the nation’s currency. However, he first needs to address Argentina’s debt issues before making any changes.
Before becoming president, Milei claimed that he did not deal with communists and was lionized by leaders from Latin America such as Brazil and China for his stance on this issue. As a result of his victory, Milei has toned down some of his controversial rhetoric and now claims to have a clear plan for state reform.
China congratulated Milei on his victory on Monday and pledged to continue cooperation with Argentina from a strategic perspective.