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Each day things costs a little more, it's like always racing against the clock, searching and searching," said Laura Celiz as she shopped for groceries in Tapiales on the outskirts of Buenos Aires. "You buy whatever is cheaper in one place and go to the next place and buy something else." "In this way we try to beat inflation or at least compete with it a little," he added. "While the rest of the Latin American countries have single-digit inflation, Argentina is already in triple-digits." "People are angry and have every right to be because they can't afford to buy a kilo of meat."
Persons: Matias Baglietto, Laura Celiz, Fernando Cabrera, Javier Milei, Sergio Massa, Patricia Bullrich, Damian Di Pace, Massa, Butcher Marcelo Capobianco, Capobianco, Miguel Lo Bianco, Jorge Otaola, Claudia Martini, Walter Bianchi, Hernan Nessi, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Chizu Nomiyama, Sandra Maler Organizations: Mercado Central, REUTERS, International Monetary Fund, Reuters Graphics Reuters, IMF, Business, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Tapiales, Olivos
Each day things costs a little more, it's like always racing against the clock, searching and searching," said Laura Celiz as she shopped for groceries in Tapiales on the outskirts of Buenos Aires. "You buy whatever is cheaper in one place and go to the next place and buy something else." "In this way we try to beat inflation or at least compete with it a little," he added. "While the rest of the Latin American countries have single-digit inflation, Argentina is already in triple-digits." "People are angry and have every right to be because they can't afford to buy a kilo of meat."
Persons: Matias Baglietto, Laura Celiz, Fernando Cabrera, Javier Milei, Sergio Massa, Patricia Bullrich, Damián Di Pace, Butcher Marcelo Capobianco, Capobianco, Miguel Lo Bianco, Jorge Otaola, Claudia Martini, Walter Bianchi, Hernan Nessi, Lucila Sigal, Nicolás Misculin, Adam Jourdan, Chizu Organizations: Mercado Central, REUTERS, International Monetary Fund, Reuters Graphics Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Tapiales, Olivos
Morgan Stanley analyst Adam Jonas knows some investors were caught off guard by his bullish Tesla upgrade earlier this week. "Investor feedback to our Tesla upgrade has skewed towards push-back," he said in a note to clients Tuesday. That explains why the call came just a few months after the firm downgraded Tesla to equal weight. Dojo's success could lower growth or profitability more than currently expected for competing autonomous driving systems, Jonas said. The analyst added that investors can begin measuring the path to autonomous driving and what companies could likely play a major role despite a fully formed product likely being far away.
Persons: Morgan Stanley, Adam Jonas, Tesla, Jonas, yanking, — CNBC's Michael Bloom Organizations: Dojo Locations: Tuesday's
Michael Wayland / CNBCDETROIT – Many on Wall Street view potential strikes by United Auto Workers against the Detroit automakers as largely manageable – even seeing investment opportunities. Using Ford, which has the most UAW employees at 57,000, as an example, RBC estimated margin impacts for 10% and 20% raises for union workers would be 0.39% and 0.79%, respectively. watch nowWhat "matters most" is the duration of a potential strike, Jefferies analyst Philippe Houchois said. Simultaneous national strikes against the Detroit automakers, which the UAW has alluded to doing, would be unprecedented. He estimates labor costs only account for around 4% of the global revenues for the Detroit automakers.
Persons: Michael Wayland, Tom Narayan, Jefferies, Philippe Houchois, Morgan Stanley, Adam Jonas, Jonas Organizations: United Auto Workers, General Motors, Hamtramck Assembly, CNBC DETROIT –, Detroit automakers, Motors, Ford Motor, RBC Capital, Ford, UAW, RBC, GM Locations: Detroit, Hamtramck, U.S
CNBC Daily Open: Even high yields couldn’t stop tech
  + stars: | 2023-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meanwhile, the European Commission revised its growth forecast for the European Union down from 1% to 0.8%. Only European economy to contractGermany is likely the only major European economy to contract this year, according to fresh forecasts by the European Commission. The commission predicts Germany's economy to shrink 0.4% this year; the International Monetary Fund puts that figure at 0.3%.
Persons: JPMorgan Chase, Jamie Dimon, it'd, Dimon, Cristiano Amon, Hans, Werner Sinn, Tesla Morgan Stanley's, Adam Jonas, Tesla, Jonas Organizations: CNBC, Nasdaq, Commission, European Union, JPMorgan, Qualcomm Qualcomm, Apple, UBS, European Commission, International Monetary Fund Locations: European, U.S, Ukraine, Germany, Europe
Not all analysts on Wall Street are convinced Tesla 's in-house computer technology is enough to push shares higher. The analyst did not provide a forecast price target and said he now expects flat year-over-year automotive sales gross margin in 2024, minus vehicle credits and incentives. What underpinned the Morgan Stanley upgrade on Tesla was optimism toward the company's effort with Dojo, an in-house supercomputer that is meant to train autonomous driving software. Tesla has been on a price-cutting spree for much of 2023, with markdowns to both the Model 3 and Model Y . While the analyst remains "sympathetic" over the long term on Tesla, he said, "We think that there is too much near-term uncertainty post its repeated price cuts."
Persons: Tesla, Morgan Stanley's Adam Jonas, — Needham, Needham, Chris Pierce, Morgan Stanley, Pierce, markdowns, reboots, Michael Bloom
Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts led by Adam Jonas said in a note on Sunday. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares . That's about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate from Tesla's network services business to $335 billion in 2040, from $157 billion earlier. Jonas expects the unit to account for more than 60% of Tesla's core earnings by 2040, nearly doubling from 2030.
Persons: Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Dojo, Ferrari's U.S, Ford, Motors, Thomson Locations: London, Britain, Bengaluru
REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla's (TSLA.O) supercomputer, Dojo, to train AI models for autonomous cars could give the electric vehicle maker an "asymmetric advantage" and boost its market capitalization by nearly $600 billion, or 76%, Morgan Stanley estimated. Tesla started production of Dojo in July and plans to spend more than $1 billion through next year. Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts, led by Adam Jonas, said in a note published on Sunday. The Wall Street brokerage upgraded its recommendation on Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares . That compares with its current market value of about $789 billion, after the stock closed at $248.5 on Friday.
Persons: Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Savio D'Souza Organizations: REUTERS, Dojo, Ferrari's U.S, Thomson Locations: London, Britain, Bengaluru
Tesla shares soar 10% after Morgan Stanley upgrade
  + stars: | 2023-09-11 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +3 min
SHANGHAI, CHINA - SEPTEMBER 06: Aerial view of Tesla vehicles waiting to be loaded on board a roll-on-roll-off cargo vessel at Nangang port on September 6, 2023 in Shanghai, China. Morgan Stanley analysts argued that Tesla should be viewed as a tech company as much as an electric car maker. Morgan Stanley believes Dojo could theoretically add up to $500 billion to the company's value long-term. Tesla vehicles still only offer advanced driver assistance systems, which require a human behind the wheel, ready to steer or brake at any second. But after the Morgan Stanley note on Monday, Tesla shares spiked above $272 mid-day.
Persons: Tesla, Morgan Stanley, Elon Musk, Adam Jonas Organizations: Getty, Nvidia, Tesla, Tesla's Dojo, Dojo, Deutsche Bank Locations: SHANGHAI, CHINA, Shanghai, China, U.S
The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla rallied 6% on Monday after Morgan Stanley said its Dojo supercomputer could power a near $600 billion surge in the electric-car maker's market value by helping speed up its foray into robotaxis and software services. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and replaced Ferrari's U.S.-listed shares with it as "top pick". That is about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate for Tesla's network services business to $335 billion in 2040 from $157 billion earlier.
Persons: Matthew Childs, Tesla, Morgan Stanley, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Dojo, Ford, Motors, Thomson Locations: London, Britain, Ferrari's U.S, Bengaluru
An officer from the NYPD pauses at the National September 11 Memorial & Museum, ahead of the ceremony marking the 22nd anniversary of the September 11, 2001 attacks on the World Trade Center, in New York City, U.S., September 11, 2023. Monday marks the 22nd anniversary of the 9/11 terror attacks — the deadliest such attack on U.S. soil — which took the lives of nearly 3,000 people. A group of 19 terrorists tied to the Islamic extremist group al-Qaida targeted New York and Washington, D.C. with hijacked planes. Over 400 first responders were killed in the aftermath of the collapse of the Twin Towers at the World Trade Center. Here's a look at how the country is commemorating the tragic day.
Organizations: & Museum, World Trade Center, World Trade, Pentagon Locations: New York City, U.S, York, Washington, Shanksville, Pa
New York CNN —Tesla’s Dojo supercomputer could fuel a $500 billion jump in the electric vehicle maker’s market value, analysts at Morgan Stanley said in a note Monday. Shares of Tesla jumped more than 6% during early trading Monday morning, on the heels of the rosy prediction from Morgan Stanley’s team about the automaker’s supercomputing efforts. The Morgan Stanley team, lead by longtime Tesla analyst Adam Jonas, predicted that the massive drive in value could come from Dojo potentially unlocking new revenue streams through the wider adoption of robotaxis and software services. The analysts compared the potential of Dojo at Tesla to the “same forces that have driven” Amazon Web Services to propel Amazon’s profitability to new heights. The world’s most valuable carmaker had a market cap of some $788.74 billion as of the market close on Friday.
Persons: New York CNN —, Morgan Stanley, Tesla, Morgan Stanley’s, Adam Jonas Organizations: New, New York CNN, supercomputing, Tesla, Services, Investors, Dojo Locations: New York
Morgan Stanley's widely followed auto analyst Adam Jonas thinks Tesla is on the verge of a major leap in autonomous driving. The analyst upgraded Tesla stock to overweight from equal weight, with a new $400 per share price target, up from $250. The analyst also moved Tesla to the top pick column at Morgan Stanley. Jonas previously downgraded Tesla stock in June over worry that shares were overheated after a massive rally. Tesla shares were up more than 5% in premarket trading on the Morgan Stanley call.
Persons: Morgan Stanley's, Adam Jonas, Tesla, Morgan Stanley, Jonas, Tesla's, — CNBC's Michael Bloom Organizations: Investors, Dojo, Tesla, Nvidia
Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.
Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil
[1/5] A woman dressed in black holds a candle as she walks around La Moneda presidential palace during an event ahead of the 50th anniversary of the 1973 Chilean military coup, in Santiago, Chile, September 10, 2023. Victims of military rule and their families have ramped up a push for justice and accountability, but politically the far-right has gained ground amid growing fears over rising crime. "Some people don't know anything about what happened and aren't interested, others are tired that...even after 50 years, many people still don't know what happened to their disappeared relatives," said Elvira Cádiz, who was six years old in 1973. According to various Chilean human rights commissions, there are 40,175 victims classified as politically executed, disappeared, imprisoned and tortured during military rule. "We don't know if we will achieve complete justice, but what we do have to do is get to the truth, find out where they are."
Persons: Carlos Barria, Augusto Pinochet, Salvador Allende, Gabriel Boric, aren't, Elvira Cádiz, Boric, he's, Allende's, Pinochet, José Antonio Kast, Cristián Valdivieso, Allende, Pinochet's, Gaby Rivera, Luis Rivera, Argentina's Alberto Fernández, Colombia's Gustavo Petro, Mexico's Andrés Manuel López Obrador, Carlos Gonzalez, Natalia Ramos, Adam Jourdan, Mark Heinrich Our Organizations: REUTERS, Rights, Hawker Hunter, Reuters, Thomson Locations: La, Santiago , Chile, Chile, South America, Estación Central, Santiago, Allende
Fifty years after a 1973 coup in Chile that ushered in 17 years of brutal military rule and saw some 40,000 people imprisoned, disappeared, tortured or killed, Reuters went with five former political prisoners to the sites of their confinement. Carlos Gonzalez was arrested and tortured by Pinochet's secret police in 1976 at the age of 28. For months he was held in detention centers, including the Tres Alamos and Cuatro Alamos political prison camps in Santiago. Chile returned to democracy in 1990, though Pinochet himself was never convicted of a crime and died in 2006. Reporting by Ivan Alvaredo and Natalia Ramos; Editing by Adam Jourdan and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.
Persons: Viola, Carlos, Alejandra, General Augusto Pinochet, Carlos Gonzalez, Gonzalez, Salvador Allende, Pinochet, Alejandra Holzapfel, Ingrid Olderock, Holzapfel, Viola Todorovic, Ivan Alvaredo, Natalia Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Reuters, Tres, Cuatro, Valech, MIR, Londres, Thomson Locations: Chile, Tres Alamos, Cuatro Alamos, Santiago ., Santa Lucia, Santiago
Fifty years after a 1973 coup in Chile that ushered in 17 years of brutal military rule and saw some 40,000 people imprisoned, disappeared, tortured or killed, Reuters went with five former political prisoners to the sites of their confinement. Carlos Gonzalez was arrested and tortured by Pinochet's secret police in 1976 at the age of 28. For months he was held in detention centers, including the Tres Alamos and Cuatro Alamos political prison camps in Santiago. They beat you before asking you anything, you couldn't breathe," he told Reuters at another former detention center, the Clinica Santa Lucia. Chile returned to democracy in 1990, though Pinochet himself was never convicted of a crime and died in 2006.
Persons: Ivan Alvarado, Natalia A, Ramos Miranda SANTIAGO, Viola, Carlos, Alejandra, General Augusto Pinochet, Carlos Gonzalez, Gonzalez, Salvador Allende, Pinochet, Alejandra Holzapfel, Ingrid Olderock, Holzapfel, Viola Todorovic, Ivan Alvaredo, Natalia Ramos, Adam Jourdan, Rosalba O'Brien Organizations: Reuters, Tres, Cuatro, Valech, MIR, Londres Locations: Chile, Tres Alamos, Cuatro Alamos, Santiago ., Santa Lucia, Santiago
The payout includes the approximately $8.4 billion of damages Burford sought plus about $7.6 billion of 8% prejudgment interest running from May 3, 2012, about 2-1/2 weeks after the seizure. Argentina, which is in dire financial straits including a scarcity of foreign exchange reserves, pledged an immediate appeal. Shareholders' $8.43 billion damages estimate was based on Argentina's seizure of the YPF shares on April 16, 2012, which they said transferred "control." But the judge found it "telling" that Argentine officials treated April 16 as the seizure date, which stripped Repsol of its power to run YPF and distribute capital. The judge also called 8% interest "appropriate and equitable," and "well within the range" imposed by Argentine courts.
Persons: Loretta Preska, Burford, Preska, Axel Kicillof, Gabriela Cerruti, Cerruti, Nate Raymond, Jonathan Stempel, Adam Jourdan, Rodrigo Campos, Mark Porter, Will Dunham, Richard Chang Organizations: YPF, U.S, District, Burford Capital, Petersen Energia Inversora, Eton Park Capital, Jefferies, Petersen, Eton Park, Argentina, International Monetary Fund, IMF, Argentine, Thomson Locations: Argentina, U.S, Manhattan, Burford, London, New York, Buenos Aires, Qatar, China, Boston
Along with Colombia and Peru, Bolivia is widely recognized as a leading world producer of coca, the raw ingredient for cocaine, but the government has long maintained production of consumption-ready cocaine was limited. "They are trying to turn our nation from being a drug transit country to a drug-producing country," he added and presented a drug trafficking map of some 1,804 drug factory busts since 2020, the "vast majority" in Chapare, he said. "At the same time Bolivia has managed to transition from basic paste to hydrochloride." "In Bolivia we are experiencing a dispute between two factions of the MAS, each one pointing the finger at the other suggesting that they are protecting drug traffickers." Reporting by Monica Machicao; Writing by Daniel Ramos; Editing by Adam Jourdan and Howard GollerOur Standards: The Thomson Reuters Trust Principles.
Persons: LA, Evo Morales, Eduardo del Castillo, MAS President Luis Arce, Morales, Carlos Toranzo, Arce, Toranzo, Monica Machicao, Daniel Ramos, Adam Jourdan, Howard Goller Organizations: Departmental Association of Coca Producers, MAS President, MAS, Reuters, Thomson Locations: La Paz, Bolivia, LA PAZ, Colombia, Peru, Chapare, Bolivian, MAS
August monthly inflation is likely to top 10%, analysts say. He has pledged to dollarize the economy over time and shutter the central bank, blaming a "caste" of political elite for the economic crisis in boisterous tirades to cheering supporters who love his abrasive, no holds barred style. "The way I see it, these characters are focused on a certain sector, a sector of wealth, well-being, upper class. Argentina recently saw some scattered looting of shops and supermarkets, with over 100 arrests, though that has calmed down in recent days. Reporting by Lucila Sigal; Editing by Nicolas Misculin, Adam Jourdan and Alistair BellOur Standards: The Thomson Reuters Trust Principles.
Persons: Rickey Rogers, Roberto Gonzalez Blanco, Morgan, Javier Milei, Nora Marful, Milei, Sergio Massa, Patricia Bullrich, Fernando De la Rua, Jorge Del Teso, Lucila Sigal, Nicolas Misculin, Adam Jourdan, Alistair Bell Organizations: Supreme, REUTERS, Economy, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Australia, Argentine
[1/4] Relatives of missing people and activists hold a march to mark the International Day of the Victims of Enforced Disappearances, in Santiago, Chile August 30, 2022. There are 1,469 people who were victims of forced disappearance, of which 1,092 were detained and disappeared, while 377 were executed and their remains never returned. The searches have normally, at best, led to families being given bone fragments identified as their kin who disappeared. Daily briefings made to then-U.S. President Richard Nixon on Sept. 8 and Sept. 11, 1973, were declassified earlier this week, which show how he was briefed on Chile's unfolding coup. Reporting by Reporting by Natalia Ramos and Reuters TV; Editing by Adam Jourdan and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
Persons: Ivan Alvarado, Rights SANTIAGO, Salvador Allende, Gabriel Boric, General Augusto Pinochet, Juana Andreani, Pinochet, Richard Nixon, Carlos González, Natalia Ramos, Adam Jourdan, Sandra Maler Organizations: REUTERS, Rights, Ministry of Justice, Reuters, Forces, Armed Forces, Thomson Locations: Santiago , Chile, Chile, Argentina, Brazil, Uruguay, United States
Photo: Getty ImagesFor all that divided the North and South in 1865, there remained a common bond to which President Lincoln could appeal in his second inaugural address. Both sides “pray to the same God,” but “the prayers of both could not be answered—that of neither has been answered fully. The Almighty has His own purposes.” From this shared faith—and a shared acceptance of the gulf between God’s power and man’s designs—Lincoln could call on all Americans to proceed “with malice toward none, with charity for all, with firmness in the right as God gives us to see the right,” to “finish the work we are in.”
Persons: Lincoln, , — Lincoln,
Argentine Economy Minister Sergio Massa speaks to the media on the day of Argentina's primary elections, near a polling station in Tigre, on the outskirts of Buenos Aires, Argentina August 13, 2023. REUTERS/Mariana Nedelcu/File Photo Acquire Licensing RightsWASHINGTON, Aug 22 (Reuters) - Argentine Economy Minister Sergio Massa said on Tuesday that he expects the International Monetary Fund (IMF) board to approve the latest reviews of its huge loan program on Wednesday, unlocking $7.5 billion the embattled country desperately needs. The board green light would come after the South American nation reached a staff-level agreement with the IMF in July to unlock the funds and complete the combined fifth and sixth reviews of its struggling $44 billion loan program. "We are convinced that tomorrow the fifth and sixth reviews will be approved, which will allow us to access a disbursement for Argentina of $7.5 billion," he told reporters at an event in Washington. Reporting by Jason Lange; additional reporting by Rodrigo Campos; Writing by Adam Jourdan; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.
Persons: Sergio Massa, Mariana Nedelcu, Massa, Jason Lange, Rodrigo Campos, Adam Jourdan, Sandra Maler Organizations: Argentine, REUTERS, Rights, Argentine Economy, International Monetary Fund, IMF, Thomson Locations: Tigre, Buenos Aires, Argentina, Argentine, American, Washington
In this article CMGMCDWENPZZA Follow your favorite stocks CREATE FREE ACCOUNTA McDonald's restaurant near Times Square, NYC on July 29th, 2023. Adam Jeffery | CNBCRestaurant companies navigating some of the same challenges in the second quarter fell into two categories: winners and losers. While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street's estimates for their quarterly revenue. McDonald's and Wingstop both reported second-quarter earnings, revenue and same-store sales growth that topped analysts' expectations, a rarity this quarter for restaurant companies. One fast-casual chain has struggled with consumers' value perception.
Persons: Adam Jeffery, hasn't, Papa John's, TD Cowen, Andrew Charles, Burger, Wendy's, Jeffrey Bernstein, bode, Chris Kempczinski, Todd Penegor, Wingstop, Michael Skipworth, Chipotle, Jack Hartung, Noodles Organizations: CNBC Restaurant, Promotions, Investors, CNBC, Restaurant Brands, Barclays, Company Locations: NYC, Chipotle, Texas
LONDON, Aug 18 (Reuters) - Argentina's surprise presidential front-runner, radical libertarian Javier Milei, pitched models of dollarizing the South American country's economy in a meeting with major lender the International Monetary Fund on Friday, two sources said. Milei, 52, outlined his economic proposals and told IMF representatives that his teams is working on "different models of dollarization," said two sources close to the candidate with direct knowledge of the meeting who asked not to be named. In the 80-minute meeting, he also told IMF officials that he does not intend to default to the fund or to bondholders, one of the sources added. The IMF was keen to learn further details on Milei's dollarization plans, one source said. IMF officials included the director of the Fund's Western Hemisphere Department Rodrigo Valdes and deputy director Luis Cubeddu.
Persons: Javier Milei, Milei, Carlos Rodriguez, Roque Fernandez, Dario Epstein, Western Hemisphere Department Rodrigo Valdes, Luis Cubeddu, Milei's, Jorgelina, Juan Bustamante, Hugh Lawson, Adam Jourdan, Alistair Bell Organizations: International Monetary Fund, Peronist, U.S ., IMF, Western Hemisphere Department, Thomson Locations: Argentina, Rosario
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