Right-winger Javier Milei will be the next president of Argentina after defeating Sergio Massa in the elections

A surprise in Argentina: libertarian economist Javier Milei surpassed by more than 10 percentage points his centrist contender and current Minister of Finance, Sergio Massa, in the electoral ballot this Sunday, November 19.

The distribution of votes was 55.69% for Milei, 44.30% for Massa, and 1.55% blank votes, according to the data of the National Electoral Directorate as of this Monday, with 99.28% of the polls counted.

Massa lost the advantage he had achieved in the general elections of October 22, when he came first and obtained 36.68% of the votes against Milei’s 29.98%.

In his first speech as president elect, the "anarcho-capitalist" former TV personality declared: "The model of decadence has come to an end, there is no turning back". He also met with with his new allies of Juntos por el Cambio: former President Mauricio Macri and former presidential candidate Patricia Bullrich.

Massa, on the other hand, acknowledged his defeat earlier than expected and said: "From tomorrow (Monday) onwards, the responsibility of giving certainties belongs to Milei". He also congratulated the right-winger for his victory.

This Monday, the president-elect gave some hints on the radical measures he intends to take with his administration.

In an interview with local radio station Radio Mitre, Milei assured that he aims at "fixing the problem of the Leliqs" (short-term peso-denominated debt instrument issued by the Central Bank) and eliminating foreign exchange restrictions. The libertarian insisted on his idea of carrying out a strong fiscal adjustment and dollarizing the Argentine economy, two of his flagship campaign promises, and affirmed that closing the Central Bank "is a moral obligation".

He also added that "everything that can be in the hands of the private sector will be in the hands of the private sector" and said that he will seek to privatize YPF, the state-owned oil company, and the public media broadcasters (TV Pública, Radio Nacional, and the news agency Télam).

The results come amidst a complex economic situation for Argentina, with an inflation rate of 142.7% year-on-year and 4 out of every 10 inhabitants of the country below the poverty line, according to official government data.

At the moment, all eyes are set on the outcome of the meeting between current president Alberto Fernández and Milei. The presidential change of office will take place on December 10.