Peronists in Argentina surge in election for run-off against radical Milei

• Peronists in Argentina surge in an election for a run-off against radical Milei.
• The runoff will feature Sergio Massa and far-right libertarian radical Javier Milei.
• The outcome mitigates concerns of a radical shift if Milei had decisively won.

Argentina’s general election defied expectations as the ruling Peronist coalition took the lead, paving the way for a polarized runoff vote next month.

The runoff will feature Economy Minister Sergio Massa and far-right libertarian radical Javier Milei. Massa secured 36.6% of the vote, while Milei had just over 30%, and conservative Patricia Bullrich was behind at 23.8%, surprising pre-election polls.

Their strong showing in the first round sets the stage for a second-round showdown on November 19 between two contrasting economic models for the beleaguered country despite triple-digit inflation under the Peronists.

The outcome mitigates concerns of a radical shift if Milei had decisively won, as he proposed dollarizing the economy and shutting down the central bank. However, Argentina still grapples with its worst economic crisis in two decades.

Argentines turned out to vote amid economic woes and rising frustration with the traditional elite. Massa, emphasizing the government’s social safety nets and subsidies, resonated with many voters.

“Peronism is the only space that offers the possibility that the poorest of us can have basic things at our fingertips,” said one voter, Carlos Gutierrez, 61, a bricklayer.

Milei, on the other hand, advocated radical measures like dollarization, criticized major trade partners, and promoted a smaller government while being anti-abortion.

To win outright, a candidate needed over 45% of the vote or 40% with a 10-point lead, which none achieved. This leaves the situation uncertain and could rattle already unstable markets.

“We have never had so much polarization,” remarked 72-year-old pensioner Silvia Monto as she voted in Buenos Aires.

Milei pledged to challenge the economic and political status quo, attracting angry voters disillusioned with rising prices.

“He is the only one who understands the situation in the country and understands how to save it,” said 22-year-old Buenos Aires student Nicolas Mercado.

Milei remains determined to win in the second round despite the challenges ahead.

“Election authorities reported a turnout of around 74%, higher than the August primaries but lower than the last election’s 81% turnout and the lowest general election turnout since the 1983 return to democracy.”

Whoever emerges victorious will confront an economy in dire straits, with empty central bank reserves, an expected recession due to a major drought, and an unstable $44 billion program with the International Monetary Fund (IMF).

Silvana Dezilio, a 37-year-old housewife in Buenos Aires province, expressed skepticism about the outcome, noting that all governments promise improvements but seem to worsen the situation.

Argentina faces ongoing challenges while other countries have overcome similar problems.

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