Liberal candidate Javier Millay won Argentina's presidential runoff on Sunday, defeating Economy Minister Sergio Massa.Millay proposed a radical solution to Argentina's economic crisis. Massa admitted defeat on Sunday while speaking to supporters in Buenos Aires before the official results were announced, saying he had called Millais to congratulate him on his victory.
Massa, from the ruling Peronist coalition, had topped the first round of voting in October, a stunning reversal after losing in the previous primary. However, Argentina's economic situation is grim, with an inflation rate as high as 143% and an economic recession imminent, which poses too great a challenge to his presidential campaign.
Milley at a polling station during the presidential runoff election in Buenos Aires.
Milley promised to solve Argentina's long-standing economic problems by slashing the budget, replacing the Argentine peso with dollars and closing the central bank.