Argentina, the 'miracle' Milei at the vote test
Legislative elections for the renewal of the House and Senate
Key points
- Corruption scandals and the economic crisis
- The merits of reducing inflation are 'eroded' by welfare cuts
- Trump's hugs and threats
Nobody can predict whether the 'machine', pardòn, the chainsaw of Javier Milei, president of Argentina, is irreparably broken or repairable. And therefore able to proceed with the 'deforestation'. A metaphor with which El Leon (that's his nickname), has promised drastic cuts to the welfare state and public spending in Argentina.
On Sunday 26 October, midterm elections will be held, Argentines are called upon to renew half of the House (127 seats, with a 4-year term) and a third of the Senate (24 seats, with a 6-year term), for a new-faced Congress starting on 10 December.
An electoral appointment in which the anarcho-capitalist is supported and endured by Donald Trump, who a few weeks ago granted him a $20 billion 'handout', accompanied by lavish praise, which seemed to indicate an indissoluble link between the White House and the Casa Rosada. Too bad that a few days later, punctual as an eclipse, came The Donald's swerve: 'If Milei loses, we'll be out, he'll have to fend for himself'.
In this case, it will not be easy to cross the ford of a political and social crisis that distances the memory of some positive macro-financial results achieved by Milei. First of all, a reduction in inflation, close to 300% in 2023, to 117% in 2024, (Indec data, the Argentine Istat (n.d.r.)) with a forecast of 32% for 2025.
Milei's clear victory in the presidential elections two years ago - largely favoured by a poor performance by the Peronist government of Alberto Fernandez, in tandem with vice-president Cristina Fernandez de Kirchner - was based on declarations and revitalising intentions, but above all on the 'tabula rasa' of widespread collusion and corruption. An unacceptable governance method that, down there at the Fin del Mundo, would have contributed to the sinking of the world's granary-country, capable of producing food for 400 million people and unable to feed 45 million.
