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LONDON - A stronger-than-expected showing by Argentina's ruling Peronist coalition at a general election on Sunday has set the stage for a run-off vote on Nov. 19 between Economy Minister Sergio Massa and far-right radical Javier Milei."Investors’ attention will turn its focus to two points. First, any announcements by the two candidates advancing to the second round. When it comes to Mr. Massa, given his capacity as Finance Minister and candidates, policy announcements will be key.
"Policy missteps are something that Argentina cannot afford at this juncture. Inflation is tracking at 138% and accelerating, currency and financial pressures are building up, economic activity is contracting, the fiscal deficit is widening, international reserves are at critically low levels, and net international reserves are negative. For Mr. Milei, any announcement of cabinet positions in an eventual government, for example the finance minister, will be key.
"Proving competitive going into the runoff, in the weeks through Sunday November 19th, the government is expected to continue to pull rabbits out of a hat in an attempt to muddle-through and avoid a disordered devaluation."
France Dernières Nouvelles, France Actualités
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