Argentina: Presidential Candidate Wants The Dollar

August 17, 2023
Argentina: Presidential Candidate Wants The Dollar

 

Far-right economist Javier Milei has recently received the highest share of votes in Argentina’s primary election, amid fears that the country’s currency could be abolished in favour of the US dollar.

The primary is seen as a key indicator for the upcoming presidential election in October, and Milei exceeded expectations by winning against more established opponents.

Milei is believed to be an admirer of former US President Donald Trump, and it is understood that part of his shock therapy plan to transform Argentina’s economic prospects is to adopt the US dollar as the country’s primary currency.

According to recent polls, 60% of Argentinians oppose the idea as it could give too much power to the US Federal Reserve. However, the threat may be real as the dollar already plays such a big part in their economy.

The media have described the primary result as a ‘political earthquake’. Traditionally, whoever wins the most votes is the clear favourite for the subsequent presidential election. Previously, opinion polls had suggested that Milei was trailing candidates Patricia Bullrich and Sergio Massa.

However, with more than 97% of the ballot counted, Mr Milei had received 30% of the votes, ahead of Bullrich with 28% and Massa with 27%.

One prominent national newspaper has since described Milei’s recent popularity surge as a tsunami.

 

 

 

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