Latin America's third-largest economy is creaking under triple-digit inflation after decades of recurrent fiscal crises marked by debt, financial mismanagement, and a volatile currency.
BUENOS AIRES, Argentina - Argentina's Economy Minister Sergio Massa and anti-establishment outsider Javier Milei will face off in a runoff presidential poll, a battle for two wildly different versions of the country, election results showed Sunday.
The libertarian Milei, who brought a powered-up chainsaw to rallies vowing to slash public spending and dollarize the economy, scored 30.51% of the vote. In his victory speech Massa sought to present himself as the calmer, steadier hand, as opposed to Milei, who surged to prominence with his angry diatribes against the "thieving and useless political class" and dire state of the country's economy.
To woo voters, he went on a pre-election spending spree, slashing income tax for much of the population in a move analysts said would only make the country's fragile financial situation worse. However, with over eight million votes up for grabs that went to third-placed former security minister Patricia Bullrich and two other candidates, he said Massa faces a stiff battle against the upstart Milei.