The economy is likely already in recession and is expected to contract again next year.
Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation.
"Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment."
"Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain."
For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.
Persons:
Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker
Organizations:
por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson
Locations:
Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming