Argentina will face high inflation and deteriorating living conditions in 2024 regardless of who wins the presidential runoff, though a victory by the libertarian candidate would generate greater political and economic volatility, along with a higher prospect of pro-business policies, than a victory by his progressive rival. Argentina will hold the second round of its presidential election on Nov. 19, when progressive Economy Minister Sergio Massa will run against libertarian candidate Javier Milei. The winner will take over on Dec. 10 for a four-year term. The election will take place against the backdrop of a deep economic crisis, as inflation reached 142% year-on-year in October while the local currency, the peso, keeps losing ground to the U.S. dollar in informal markets amid record low reserves in the Central Bank and a generalized mistrust in the government's ability to turn things around. Meanwhile, the International Monetary Fund (IMF) expects the Argentine...
