Political and economic turbulence after Argentina's presidential election will lead to higher inflation regardless of the winner, but the risk of hyperinflation, widespread social unrest and policy uncertainty will be particularly high if the libertarian candidate wins. Argentina will hold the first round of its presidential election on Oct. 22. If no candidate wins 45% of the vote or 40% and a 10-point lead over the second most popular candidate, a runoff election between the top two candidates will take place on Nov. 19. The new president will be inaugurated on Dec. 10 for a four-year term. The leading candidates are libertarian Javier Milei, who is campaigning on a strong anti-establishment platform that includes a promise to close down Argentina's Central Bank and dollarize the economy; center-left Economy Minister Sergio Massa, who is promising to reduce Argentina's very high inflation rate while also preserving the country's generous welfare payments and...
