Reuters reports:
The South American nation, the region’s no. 2 economy and a major grains exporter, is facing its worst crisis in decades. Two-fifths of people live in poverty and a looming recession is shaking up Argentina’s presidential election run-off next Sunday.
Rising voter anger is propelling a radical outsider, Javier Milei, the slight favorite in polls to beat economy minister Sergio Massa, the candidate of the ruling Peronist coalition, whose bid has been hobbled by his failure to rein in rising prices.
Annualized inflation, already 138%, is set to rise further when authorities release official data for October on Monday, with the monthly rise alone estimated to be around 10%, down slightly from peaks in August and September.
Read the full article. As you can see below, the US right wing is, of course, behind Milei. The debate below is from last night.
If Javier Milei is a threat to democracy, then China is the leader of the free world. Argentina’s survival could depend on radical reform, and his economic proposals may be precisely what is needed to save Argentina’s economy and its democracy. https://t.co/vgOr0hrDF2
— Heritage Foundation (@Heritage) November 8, 2023
Playing into Milei’s hands is seemingly untamable inflation, at 138% on an annualized basis and rising. That’s left many working and middle class Argentines struggling to afford things, including new jeans and shirts, found Lucila Sigal @ReutersTV https://t.co/d2sFCGqisF
— Adam Ramsay Jourdan (@ARJourdan) November 13, 2023