Presidential debate in Argentina: what were the candidate’s economic proposals in the run-up to the October 22 elections?

Sergio Massa, Patricia Bullrich, Javier Milei, Juan Schiaretti, and Myriam Bregman starred in a tense debate on Sunday in the countdown to the general elections in Argentina. Although the economy was the main point of discussion, the clash between the candidates monopolized most of the attention.

In view of the crisis plaguing the country, with an annual inflation rate of 124.4% in August and 40.1% poverty at the end of the first semester, the Unión por la Patria candidate and current Minister of Finance Sergio Massa had to defend himself from the criticism of his contenders and acknowledged the mistakes made by the current government of Alberto Fernandez.

His proposals included the creation of "an Argentine digital currency", higher penalties for tax evaders, and a money laundering law. "We are going to implement an export development program. Our regional economies and our SMEs will have tax reductions for new exports", he said.

Milei, faithful to his extreme right-wing discourse, affirmed that "the fiscal deficit is Argentina’s cancer" and that "the state is the problem, not the solution". The candidate of La Libertad Avanza insisted on his idea of dollarizing the economy and eliminating the Central Bank, aspects that also earned him harsh criticism from the other four politicians for considering his ideas unfeasible.

Bullrich, of Juntos por el Cambio, promised to "erase inflation from the map", but was vague in terms of implementation. She proposed "to grow, export and generate employment", affirming that she has the "courage" and the team to do so.

Bregman, representing the left, blamed the International Monetary Fund for the country’s problems: "If we reached the 60% child poverty rate, it was not because we confronted the IMF, but because we followed each and every one of its recipes", she said. The Frente de Izquierda y los Trabajadores candidate claimed to be the only one who is not "an accomplice of the economic power". Her most incisive comments were made against Milei, whom she described as part of the "political caste" that he repeatedly attacks.

For his part, Schiaretti, governor of Córdoba and the only candidate from the inner provinces, called for "as much market [freedom] as possible and as much State [intervention] as necessary". He asserted that "the last two governments destroyed the national economy" and added that "in order to put an end to the fiscal déficit, it is not necessary to make savage adjustments". The Partido Justicialista candidate complained about the concentration of resources in the Buenos Aires Metropolitan Area and the lack of true federal policies.