After far-right economist Javier Milei’s win in Sunday’s run-off election, Argentina’s main business associations and leaders generally reacted with support for the president-elect. Common themes across their reactions were the desire to work closely with the new administration to fix the country’s economic situation and the importance of the work ahead.
One of the first to congratulate Milei was the group of leading business associations known as the “G6” — the Argentine Chamber of Construction (Camarco), the Argentine Rural Society (SRA), the Argentine Chamber of Commerce and Services (CAC), the Association of Argentine Banks (ABA), the Buenos Aires Stock Exchange (BCBA) and the Argentine Industrial Union (UIA).
“[We] celebrate the carrying out of a new democratic election in peace and congratulate its protagonists,” said G6 members in a signed statement.
They expressed their “willingness to work together on solutions to the problems posed by the country’s development” and advocated for “dialogue as a fundamental tool to overcome the difficulties that Argentina faces.”
The Rural Society published its own statement on X, saying that “the new government can rely on the agricultural sector’s support, as a big opportunity to work together and make radical changes is opening.”
Certain heads of G6 associations published separate statements, with CAC president Natalio Mario Grinman pledging his support for Milei to “carry out all the transformations that our country needs” and Camarco president Gustavo Weiss saying he is “convinced that dialogue is essential to overcome the difficulties that Argentina faces.”
Meanwhile, the president of the Argentine Chamber of Medium Enterprises (CAME), Alfredo González highlighted “the need for the new president to give certainty to small and medium-sized businessmen who bet on and invest in the country.”
MercadoLibre founder and president Marcos Galperin was particularly explicit in his support for Milei, sharing an image on his X showing chains being transformed into birds with the caption “We’re free.”
While November 20 is a national holiday in Argentina, in pre-market operations the ADR (Argentine deposits receipts), Argentine stocks traded in the New York Exchange, shoot up with increases of up to 12 percent. Argentine sovereign bonds are also up at around 6 percent.