Crunch Time: Argentina's Presidential Election in the Midst of Economic Turmoil

Argentinas presidential elections have come to a close, with the top candidates emphasizing significant differences between the political center and the outskirts of the country amidst a severe economic crisis. The frontrunners in the polls leading up to the election were Javier Milei, a far-right libertarian; Patricia Bullrich, a former security minister from the center-right; and Sergio Massa, the current economy minister. All three candidates are competing for the confidence of the nation during a time when there is widespread discontent with the country's elite and their handling of its affairs.

Presidential candidate Javier Milei from the Liberty Advances coalition showcases his unconventional campaign style by energetically wielding a chainsaw during a rally in La Plata, Argentina on Tuesday, Sept. 12, 2023. Known for his outspoken nature, Milei openly criticizes Argentina's political class, leftist Latin American presidents like Mexico's Andres Lopez Obrador, journalists, and even Pope Francis. Despite his controversial stance, Milei currently leads the polls in anticipation of the upcoming elections in this South American nation. (AP Photo/Natacha Pisarenko, File)

Natacha Pisarenko/AP

The 'chainsaw' candidate challenging Argentina's left and right

Inflation in Argentina has reached 138%, creating additional hardship for people facing the challenge of managing their cost of living. Laura Celiz, who recently spoke to Reuters, expressed the difficulty in coping with daily expenses. She explained the constant struggle of trying to keep up with rising prices, constantly searching for the best deals and buying from different places to save money while shopping on the outskirts of Buenos Aires.

After voting in Buenos Aires on Sunday, President Alberto Fernández took to the social media platform X to celebrate the democracy of the nation. "I urge every Argentine to protect it and shape the future of our country through their votes," he expressed.

Bullrich holds up her marked ballot before putting it into the ballot box during primary elections in Buenos Aires, Argentina, Sunday, Oct. 22, 2023.

Gustavo Garello/AP

Bullrich, a former minister of security, said in an interview with CNN en Español that she would entrust economists with the management of the finance ministry. She emphasized her intention to provide a strong and composed leadership, in contrast to Mileis' frequent outbursts.

Recently, she has leveraged her extensive experience in national politics to rebrand herself and capture the attention of younger voters. Embracing the power of social media, she has embarked on viral challenges on YouTube and cleverly mentioned her connection to her cousin, renowned singer Fabiana Cantilo, in interviews.

Massa speaks to the press after voting at the polling station in Tigre, Buenos Aires, during the presidential election on October 22, 2023.

Emiliano Lasalvia/AFP/Getty Images

Massa, a key member of the current government, holds a significant ministerial portfolio that encompasses inflation control, soybeans (the primary export of the country), and Argentina's relations with the International Monetary Fund.

He endeavors to establish himself as a voice of pragmatism from the left, distinguishing himself from the current government coalition. Simultaneously, he aims to maintain a delicate balance by not alienating the influential power base of Argentina's prominent Vice President, Cristina Fernandez de Kirchner.

Milei greets supporters before voting during general elections in Buenos Aires, Argentina, Sunday, Oct. 22, 2023.

Rodrigo Abd/AP

Milei, a political newcomer, stands out from his main competitors due to his lack of governmental experience and his pledge to disrupt Argentina's current economic framework. His supporters find his promises of a complete revamp highly appealing.

Milei, a former financial analyst and self-proclaimed "anarcho-capitalist" who brandishes a chainsaw during rallies, has proposed an array of drastic measures: adopting the US dollar as Argentina's currency, drastically reducing public subsidies, and abolishing the ministries of culture, education, environment, as well as women, gender, and diversity.

For a presidential candidate to secure victory in the initial round of voting, they must garner over 45% of the total votes or a minimum of 40% with a lead of at least 10 percentage points over the candidate in second place.

The next president will take office in December to start a 4-year term.

Esteban Campanela reported from Buenos Aires, Abel Alvarado from Atlanta, and Stefano Pozzebon from Bogota.