With the election of the libertarian as president in Argentina, 4 South American countries will be governed by the right
Javier Milei’s victory in the Argentine elections this Sunday (Nov 19, 2023) slowed down the call “left wave” in South America. With the result of the election, the Argentine Executive will be led by a right-wing administration.
Since the president Luiz Inácio Lula da Silva (PT) took office in January this year, 9 of the 12 countries in South America are under the command of left-wing governments. But, after Milei’s inauguration on December 10, the 12 countries in South America will have the following configuration: 8 countries with left-wing governments and 4 right-wing ones.
The survey carried out by Power360 considers 2 political scenarios for South American nations: the year 2019 and January to November 2023. This year, elections were held in Ecuador, in addition to Argentina.
In the last 4 years (2019-2023), 3 countries (Argentina, Ecuador and Uruguay) exchanged left-wing government leaders for right-wing leaders. Five South American nations (Bolivia, Brazil, Chile, Colombia and Peru) are now led by leftist presidents.
SOUTH AMERICAN ECONOMY
Second data from the World Bankcountries currently led by left-wing presidents totaled US$3.5 trillion in regional production in 2022. Nations governed by right-wing leaders –Ecuador, Paraguay and Uruguay– accumulated US$227.95 billion in the same period.
Venezuela has not released GDP (Gross Domestic Product) data regularly since 2014. Therefore, the nation was not considered in the survey Power360.
Brazil has the highest GDP on the South American continent. In 2022, it contributed approximately 54.8% of regional production and, in 2021, 50.1%. In current values, revenue was US$1.9 trillion and US$1.609 trillion, respectively.
Argentina is the 2nd largest economy in South America and the 22nd in the world, with a GDP of US$632.77 billion, according to 2022 data from the World Bank. Under the command of the left in 2019, the nation was responsible for 13.3% of South American domestic product and, in 2022, for 18%.
Argentina is Brazil’s 3rd largest trading partner, which exported US$15.34 billion and imported US$13.10 billion from the neighboring country last year. The balance was US$2.24 billion.
ARGENTINE ELECTIONS
Right-wing candidate Javier Milei, 53, from the La Libertad Avanza coalition, won the 2nd round of Argentina’s presidential elections. The libertarian defeated the Peronist representative Sergio Massa (Unión por la Patria).
With 98.43% of the ballots counted by 9:41 pm this Sunday (Nov 19), Milei appears with 55.74% of valid votes, against 44.25% for the current Argentine economy minister.
Milei’s victory over Massa meant a defeat for Peronism after the political movement won 4 of the last 5 elections held over the last 20 years.
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