Argentine Elections: Javier Milei is now the new President. What could be the implications of the elections?

On the 19th of November, Sergio Massa, the Economic Minister of Argentina was defeated by Javier Milei in the elections. The 10th of December was the day when the new President of Argentina, Javier Milei sworn into office.

As the country welcomes the new President swearing in, what could be the effects of the elections on Argentina? Let's understand each aspect.

First things first, let's get to know the new President

Javier Milei is the new President of Argentina. He stands as a self-proclaimed anarcho-captalist and a radical libertarian. The man is widely popular for his unique economic policies that intend to challenge the "thieves" of the political arena. It was in the year 2021 when the man was elected to Congress. He managed to attract a wide mass of voters because of his determined promise of "flattening" the political system.

Next was the moment when he started becoming popular with the name "Chainsaw man". This comes after the man made use of a chainsaw in his political campaign to highlight the spirit of the "reconstruction of Argentina". 

What made Mr. Milei a popular name in the field of politics among other things is his promise to knock down the leftist propaganda mechanism. He had promised to bring forward enormous changes. His plans consist of dollarizing the economy and executing spending cuts equaling 5% of the economy, with the aim of bringing down inflation.

The President's Inaugural Address

In the inaugural address, the President clearly expressed to the people that "there is no money". He also alarmed the people to be ready for a "shock adjustment". Further, he said that the public works projects will be stopped. Also, the country's currency controls will be lifted. His suggestions included respect for private property, removal of 10 ministries, privatization of media, and a limited government.

Implications of the election results

On a national level, the election results hold many implications. One of these is the fall of Peronism, a movement emerging in the 20th century centered around social justice.