Former Economy Minister Sergio Massa has congratulated his opponent, libertarian outsider Javier Milei, on becoming Argentina's next president.
Outsider libertarian Javier Milei won in a nail-biter presidential runoff on Sunday, after his opponent Peronist Economy Minister Sergio Massa admitted defeat.
"Obviously the results are not what we had hoped for, and I have spoken to Javier Milei to congratulate him and wish him well, because he is the president that the majority of Argentines have elected for the next four years," Massa said.
Polls closed in Argentina on Sunday evening. Milei captured 55.7% of the vote, while Massa got 44%.
The two men represent starkly different futures for Latin America's third-largest economy, creaking under triple-digit inflation after decades of debt, financial mismanagement and currency volatility.
Celebrating his victory, Milei vowed to put an end to the country's economic decline.
"Today begins the reconstruction of Argentina. Today begins the end of Argentina's decline. Today ends the impoverishing model of the omnipresent state, which only benefits some while the majority suffers," the far-right populist said.
How did other leaders react?
White House national security adviser Jake Sullivan congratulated Milei and the people of Argentina for "holding free and fair elections."
"We look forward to building on our strong bilateral relationship based on our shared commitment to human rights, democratic values, & transparency," Sullivan said on social media.
Brazil's leftist President Luiz Inacio Lula da Silva wished the newly elected government success without naming Melei.
"I wish good luck and success to the new government. Argentina is a great country and deserves all our respect. Brazil will always be available to work together with our Argentine brothers," he wrote on X, formerly Twitter.
Meanwhile, Colombia's President Gustavo Petro — also a leftist — said the results made him "sad for Latin America," lamenting that the "extreme right has won."
Who were the runoff candidates?
Massa, 51, sought to convince Argentines to trust him despite record poverty levels during his time looking after the economy.
Milei, an anti-establishment outsider, pledged economic shock therapy, from shutting the central bank to ditching the peso for the US dollar.
The 53-year-old Milei has often been compared to former US president Donald Trump and Brazil's Jair Bolsonaro, with Massa accusing him of aping the two politicians by raising the specter of electoral fraud — for which he has provided no evidence.
The newcomer's rants against traditional parties who have failed to halt decades of economic decline have fired up voters tired of the status quo.
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