Argentina Faces Run-Off Election Between Centrist and Far-Right Candidates

Argentina is heading for a run-off election on Sunday, which will pit a centrist and a far-right candidate against each other in a vote that promises to have wide-ranging consequences for the South American nation.

Here’s what you need to know about who could become Argentina’s next president and why that matters.

Sergio Massa, the country’s economy minister and candidate of the ruling Union for the Homeland coalition, will face off against Javier Milei, who has grabbed headlines with his eccentric personality and radical – even controversial – promises.

The 51-year-old Massa represents the governing Peronist coalition. Massa is seen as a pragmatic figure within the leftist movement, which has helped him convince more moderate votes as well.

He is challenged by the 53-year-old Milei, an economist who sits at the helm of the Freedom Advances party. Milei has expressed his interest to “chainsaw” through a system that has left Argentina reeling from its worst economic crisis in decades. Milei has drawn comparisons to right-wing leaders like former United States President Donald Trump and ex-Brazilian President Jair Bolsonaro.

No one managed to secure the required votes for an outright victory during the first round of voting. Pollsters had given Milei a better chance of winning, but Massa came out on top with 37 percent of the votes to trump Milei’s 30 percent. But that still wasn’t enough, so Sunday’s vote will determine the president.

The economy has been at the centre of campaign promises as Argentina’s inflation is running triple digits at more than 142 percent, and the poverty rate stands at 40 percent. Massa has rolled out welfare handouts and tax exemptions, but he will likely have to pull them back after the election in case of a victory as he contends with a sizeable budget deficit.

Milei has promised to drop the national currency, the Argentine peso, and instead adopt the US dollar; “eliminate” the central bank; slash government spending by a whopping 15 percent of GDP; scale back public health expenditure; and privatise some state companies. He has also ignored warnings by his opponent that touching subsidies for utilities could significantly increase prices.

Author’s opinion: The outcome of the election will have far-reaching consequences for Argentina, as it will determine the country’s future economic policies and governance. Both candidates have contrasting ideologies and proposed policies, which raises questions about the potential impact of these ideas. While Milei’s radical promises may appeal to some voters, there are concerns about the feasibility and potential negative consequences of his proposed policies. On the other hand, Massa’s more pragmatic approach may offer stability, but questions remain about the effectiveness of his proposed solutions to address Argentina’s economic crisis.