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1. Javier Milei, a libertarian political outsider who pledged to flatten Argentina’s political establishment, won the presidency Sunday by an overwhelming margin in a major shift for a country buffeted by one of the world’s highest rates of inflation and mounting poverty after years of populist rule. Mr. Milei, a 53-year-old congressman, took nearly 56% of the vote to 44% for Economy Minister Sergio Massa with 98% of the ballots counted in the runoff election, the National Electoral Directorate said. “Today, the reconstruction of Argentina begins,” Milei said to an ovation as he celebrated victory with supporters. “It’s the end of Argentine decadence,” he added, calling the results Sunday “the miracle of electing a liberal, libertarian president.” (Sources: wsj.com, bloomberg.com)
2. Mr. Milei promised swift measures to pull the economy out of a deep crisis, saying he’s ready to welcome all those willing to join his efforts to restore the country’s prosperity. “Today begins the rebuilding of Argentina,” he said in his first speech after winning Sunday’s runoff election. Speaking from his campaign headquarters at a downtown Buenos Aires hotel, his tone was more sober than usual. Milei described the condition of South America’s second-largest economy as “critical” and said there’s no room for gradualism, suggesting he’ll take drastic measures from the moment he takes office on Dec. 10. His government will meet all of its commitments and respect private property, he added, reading from prepared remarks. (Source: bloomberg.com)
3. Javier Milei on Central Banks:
Central banks are divided in four categories: the bad ones, like the Federal Reserve, the very bad ones, like the ones in Latin America, the horribly bad ones, and the Central Bank of Argentina. (Source: bloomberg.com)
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