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This was not a WWE wrestling show, but the 2023 presidential race in Argentina where political outsider Javier Milei is the leading candidate. Argentine presidential candidate Javier Milei for La Libertad Avanza coalition gestures next to Carolina Piparo, candidate for Governor of the Province of Buenos Aires, during a campaign rally in La Plata, Buenos Aires on September 12. Milei is presenting himself as the candidate of renewal – an offer that clearly struck a chord with people in the primary vote. “I’ll vote for Milei because I think he’ll change things,” says Eduardo Murchio, a taxi driver in Argentina’s capital Buenos Aires. A worker receives Argentine peso banknotes in a shop in Buenos Aires on Sept. 26, 2023.

Persons: “, Javier Milei, –, ”, Donald Trump, Jair Bolsonaro, Carolina Piparo, Agustin Marcarian, Trump, Milei, Milei’s, Eduardo Murchio, “ I’m, it’s, Erica Canepa, Milton Friedman –, Javier Marcus, Marcus, dollarizing, Bolsonaro, Teresa Fria, Pope Francis, Pope, Satan ”, “ Pope Francis, Emiliano Lasalvia, Patricia Bullrich, Sergio Massa, Massa, Cristina Fernandez de Kirchner, Bullrich, Anita Pouchard Serra, Claudio Jacquelin, Facundo Nejamkis Organizations: CNN, WWE, Argentine, La Libertad, National Institute of Statistics, Reuters, Bloomberg, Getty, Rosario National University, Trump, Catholic, CIA, Milei, Unity, Homeland, La, Español Locations: Argentina, Mar del Plata, Argentine, Carolina, Province of Buenos Aires, La Plata, Buenos Aires, Latin America, Ecuador, El Salvador, Panama, AFP, Argentina's

☆ The US dollar and Argentine peso could exist side by side, says rival to presidential frontrunner Milei
▼ + stars: | 2023-09-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Argentine presidential candidate Patricia Bullrich wants both the dollar and peso to be official currencies. This represents a different take versus full dollarization, a policy advocated by frontrunner Javier Milei. "The peso and the dollar will coexist," Carlos Melconian, her chief economic advisor, said at the Bloomberg Economic Summit in Buenos Aires. "There will be a complementary exchange rate regime that will be step by step, and will take inflation into account." "There is going to be very severe and prudent macroeconomic policy in Argentina," Melconian said, according to Bloomberg.

Persons: Patricia Bullrich, Javier Milei, Bullrich, —, Milei, Carlos Melconian, Melconian Organizations: Argentine, Service, US greenback, Bloomberg Economic Summit, Bloomberg Locations: Buenos Aires, Argentina

☆ Dollarization would eliminate Argentina's future inflation risk, former IMF board member says
▼ + stars: | 2023-09-22 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Dollarization would end inflation risks in Argentina, said former IMF board member Mark Rosen. It wouldn't necessarily deal with the spending issue, but it would anchor monetary policy, and be a big positive change." But critics of Argentina's dollarization idea have previously pointed out that it would be handicapped by the shortage. But not every IMF official shares his take. Though the lender has not officially weighed in on dollarization, Argentina's economic situation does matter to it.

Persons: Mark Rosen, Javier Milei, Francisco Zalles, Argentina's, Rosen, Alejandro Werner Organizations: IMF, Bloomberg, Argentine, Service, International Monetary Fund, Ecuador dollarize, Advection Growth Locations: Argentina, Wall, Silicon, Buenos Aires, Ecuador, America, dollarization

☆ De-dollarization would require governments to sever political and economic ties with US
▼ + stars: | 2023-09-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The dollar's dominance is sticky, political scientist Carla Norrlöf wrote in Project Syndicate. A de-dollarization collective is also unlikely as countries could lose access to the US security guarantee, Norrlöf said. "Governments would need to sever economic and political ties to the US. A de-dollarization collective is also unlikely as countries would lose access to the US security guarantee, Norrlöf said. Even governments who are not direct beneficiaries of American defense would hesitate to worsen relations with the US, a leading military power.

Persons: Carla Norrlöf, Norrlöf Organizations: Project Syndicate, Service, University of Toronto, Atlantic Council, greenback Locations: Wall, Silicon, China, Russia

☆ The de-dollarization drive is spreading wider - Indonesia is the latest nation to join the anti-buck movement
▼ + stars: | 2023-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Indonesia appears to be the latest country to jump on the de-dollarization bandwagon. The island nation has launched a National Task Force to promote local-currency transactions. The move is expected to help make the rupiah more stable, and support local financial markets, Bank Indonesia said. The island nation has announced it's formed a National Task Force to widen the use of local currency transactions (LCT) with partner countries, according to Indonesia's central bank. While some experts perceive de-dollarization efforts as a threat to the greenback, others have dismissed the movement as a nothingburger.

Persons: it's, Perry Warjiyo, Vladimir Putin Organizations: Force, Bank, Service, Bank Indonesia Locations: Indonesia, Bank Indonesia, Wall, Silicon, China, Russia, India, dollarization, Beijing, New Delhi, Zimbabwe

"Social media is the new way of doing politics," said Eugenia Rolon, an 21-year-old influencer who describes herself as anti-feminist and fighter of a "cultural battle" against progressive ideas. Cerimedo said social media support for Milei was organic, and played down previous comments he made to local media that he had used AI-powered trolls. "Many people said Javier was going to do poorly because what happened on social media was my trolls," Cerimedo said. Agustin Romo, 27, a legislative candidate for Buenos Aires province with Milei's Libertad Avanza party, informally coordinates the social media team. "These are people who are contributing their grain of sand where they can, so that Argentina changes and Javier Milei becomes president," Romo said.

Persons: Javier Milei, Karina Milei, Agustin Marcarian, Elon Musk, Eugenia Rolon, Donald Trump, Jair, Milei, That's, Sergio Massa, Patricia Bullrich, Tucker Carlson, Bolsonaro, Diego Corbalan, Bullrich, Jeremias Madrazo, Madrazo, Massa, Inaki Gutierrez, Argentine, Fernando Cerimedo, Cerimedo, Javier, Carlson, Musk, overspending, Agustin Romo, Romo, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Elon, YouTube, Reuters, Peronist, Buenos, Milei's Libertad, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Massa, Milei's Libertad Avanza, Candelaria

☆ Opinion | How to Make Russia Really Pay for Invading Ukraine
▼ + stars: | 2023-09-19 | by ( Bret Stephens | ) www.nytimes.com time to read: +1 min

Volodymyr Zelensky will visit Washington this week to give thanks to the United States for its generosity — while asking for $24 billion more, which is what the Biden administration is seeking from Congress in additional military and humanitarian aid to Ukraine. That will bring the total amount of American aid to $135 billion, which so far has been $223 million a day since the war began, according to one calculation. Maybe it’s time to open a new funding source before American largess runs out — this time from Russia. As the former Treasury secretary Larry Summers has put it, “Bank robbers should not expect banks to honor their safe deposit boxes.”So far, the Biden administration has disagreed. “It would not be legal now in the United States for the government to seize” Russia’s assets, Janet Yellen, the Treasury secretary, said in May 2022.

Persons: Volodymyr Zelensky, Biden, Larry Summers, Janet Yellen Organizations: Bank, Economist Locations: Washington, United States, Ukraine, Russia, Russian

LA PLATA, Argentina, Sept 15 (Reuters) - Wielding a chainsaw above his head in the Argentine city of La Plata this week, radical presidential front-runner Javier Milei riled up thousands of supporters angry with 124% inflation and a painful cost-of-living crisis. We must remove all the people who have left this country destroyed," said Rosalia Garcia, 51, a public accountant at Milei's rally in La Plata, the capital of Buenos Aires province. "The political caste is afraid," he yelled in La Plata. Milei got just under 30% in the August primary, just ahead of Bullrich and Massa. Back in La Plata, high school student Roman Lopez, 16 - who will be a first-time voter this year - said he previously wasn't interested in politics, but Milei's energy had attracted him.

Persons: Javier Milei riled, Rosalia Garcia, Milei, Patricia Bullrich, Sergio Massa, I'm, Eduardo Murchio, it's, Sebastian Pedrozo, Roman Lopez, Horacio Soria, Juan Bustamante, Lucila Sigal, Eliana Raszewski, Rosalba O'Brien Organizations: LA, Peronist, Thomson Locations: LA PLATA, Argentina, Argentine, La Plata, October's, Buenos Aires, Milei, Bullrich, Massa, greenbacks

☆ Argentina August inflation forecast at highest since 1991
▼ + stars: | 2023-09-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

Argentina was already battling annual inflation near 115%, which is driving a painful cost of living crisis and pushing people into poverty. "August was the worst month, I would say in the last 25 years of Argentina's economy," Sergio Massa, Minister of Economy and presidential candidate for the ruling Peronist bloc, said in a recent television interview. Reuters Graphics Reuters GraphicsThe survey of 28 analysts polled by Reuters forecast monthly inflation for August ranging from 9.3% to a maximum 12.9%. Analysts also predicted inflation would likely remain in double figures for September. Reporting by Hernan Nessi; Writing by Valentine Hilaire; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Javier Milei, Sergio Massa, Eugenio Mari, Hernan Nessi, Valentine Hilaire, Josie Kao Organizations: Index, Peronist, Reuters Graphics Reuters, Reuters, Argentina's National Institute of Statistics, T Economic Advisors, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, Argentina

☆ Pan-African Payment System deals with the peculiar problems of Africa
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPan-African Payment and Settlement System is aimed at dealing with 'peculiar problems' of AfricaBenedict Oramah, chairman and president of the African Export-Import Bank says the cross-border payments system is about integrating and domesticating inter-African trade payments, not an effort to de-dollarize.

Persons: Africa Benedict Oramah Organizations: African Export, Import Bank Locations: Africa

☆ As inflation soars, Argentines say they've seen this film before
▼ + stars: | 2023-08-30 | by ( Lucila Sigal | ) www.reuters.com time to read: +3 min

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

Ramiro Marra, candidate for mayor of Buenos Aires and part of the inner circle of Argentina's radical presidential front-runner Javier Milei, listens to Milei talking to journalists, in Buenos Aires, Argentina August 24, 2023. Juan Napoli, also running for a Senate seat with Milei's party, agreed time would be needed to lay the groundwork for reforms. The presidential candidates for the two blocs will be Economy Minister Sergio Massa and former security minister Patricia Bullrich, respectively. "All of the alternatives that are laid out in the law and the national constitution, we are going to use them." Reporting by Anna-Catherine Brigida; Additional reporting by Eliana Raszewski and Juan Bustamante; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Ramiro Marra, Javier Milei, Agustin Marcarian, Milei, Marra, Juan Napoli, dollarization, Sergio Massa, Patricia Bullrich, Anna, Catherine Brigida, Eliana Raszewski, Juan Bustamante, Rosalba O'Brien Organizations: REUTERS, Milei, Reuters, Bull Market Brokers, Peronist, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ 'Coldplay dollar' and 'Qatar dollar' highlight Argentina's bizarre currency system as it weighs ditching the peso
▼ + stars: | 2023-08-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Argentina's economic burdens have spawned a number of dollar-peso exchange rates. They include a black market dollar rate, as well as the "Coldplay" and "Qatar" rates. There's an official rate, but also a "blue dollar" rate determined by an underground exchange of greenbacks that's free of governmental controls. So while the official peso rate stood at just under 350-per-dollar on Friday, the blue dollar rate was 715. AdvertisementAdvertisementOther exchange rates are not spin-offs designed to evade currency restrictions, but are actually organized by the government.

Persons: Coldplay, There's, Monica de Bolle, Javier Milei, de Bolle Organizations: Service, Qatar, Coldplay, Peterson Institute for International Economics Locations: Qatar, Wall, Silicon, Argentina

☆ Argentina offers financial aid to crisis-hit workers and pensioners
▼ + stars: | 2023-08-27 | by ( Eliana Raszewski | ) www.reuters.com time to read: +3 min

Argentine one hundred peso bills are displayed in this picture illustration taken September 3, 2019. Massa said workers will receive 400 billion pesos in loans, while self-employed workers will be offered six months of tax relief and those on food benefits will receive additional stipends. "The goal is that every economic sector receives some state support," Massa said. Meanwhile, tensions have risen and a series of lootings have taken place across the country. ($1 = 350 Argentine pesos)Reporting by Eliana Raszewsi; Writing by Lizbeth Diaz and Sarah Morland; editing by Diane Craft and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Sergio Massa, Massa, Javier Milei, Patricia Bullrich, Eliana Raszewsi, Lizbeth Diaz, Sarah Morland, Diane Craft, Chris Reese Organizations: REUTERS, Sunday, International Monetary Fund, South, Thomson Locations: BUENOS AIRES

☆ Brazil's real, not the dollar, could be the solution to Argentina's currency turmoil, an economist says
▼ + stars: | 2023-08-23 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Argentina should peg the peso to Brazil's real, not the US dollar, to deal with exchange-rate instability and hyperinflation, an economist said. "If Argentina wants a currency peg so badly - Dollarization is after all just a peg - peg to Brazil," Robin Brooks said. "If Argentina wants a currency peg so badly - Dollarization is after all just a peg - peg to Brazil. AdvertisementAdvertisementSome market experts have also backed the idea of Argentina potentially adopting the US currency – economist Steve Hanke recently called for the nation to mothball its central bank and dollarize. Brooks' latest comments come after he suggested earlier that Argentina needs a recession to fix its crashing currency, not dollarization.

Persons: Robin Brooks, Brooks, Javier Milei, Steve Hanke Organizations: Service, Institute of International Finance, South, greenback Locations: Argentina, Brazil, Wall, Silicon, South American

☆ Argentina is already dollarizing - these businesses have switched to greenbacks as the peso is worth a fraction of a penny
▼ + stars: | 2023-08-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

And more businesses are accepting dollars as payment as the peso crashes. AdvertisementAdvertisementE-commerce giant MercadoLibre, consulting firm Accenture, software developer Globant, and fintech firm Ualá offer partial pay in greenbacks, according to reports. In addition to staff salaries, the private sector is increasingly accepting dollars as a form of payment as well. For example, US website firm GoDaddy stopped accepting Argentinian peso payments in June, changing to dollars. He also suggested Argentina would be better off pegging its currency to the Brazilian real instead of the greenback.

Persons: Javier Milei, fintech's, GoDaddy, ZonaProp, Robin Brooks Organizations: Service, Bloomberg, Accenture Locations: Wall, Silicon, greenbacks, Buenos Aires, Argentina

☆ India's central bank urges lenders to de-dollarize trade with the UAE using local currencies
▼ + stars: | 2023-08-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

India's central bank is asking lenders to promote local currencies when trading with the UAE, Reuters reported. The central bank hopes to stem India's outflow of greenbacks and help promote the rupee internationally, according to the report. A central bank official delivered the message to foreign exchange dealers during a seminar this month, Reuters said. The request from the central bank comes as India and the UAE have set themselves on a de-dollarization path. Meanwhile, banks are also offering smaller companies discounted service charges to incentivize local currency transactions.

Persons: South Africa —, Jim O'Neill Organizations: UAE, Reuters, Service, Reserve Bank of India, United Arab, Abu Dhabi National Oil Company, — Locations: India, UAE, Wall, Silicon, United Arab Emirates, Abu Dhabi, Ukraine, Russia, — Brazil, China, South Africa

☆ India just ditched the dollar and used its own currency to buy a million barrels of oil from the UAE
▼ + stars: | 2023-08-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

India bought 1 million barrels of oil from the United Arab Emirates using its own currency instead of US dollars. The Indian Oil Corp settled a payment in rupees with the Abu Dhabi National Oil Company. Nations including India, Russia, and other BRICS members have been pushing to de-dollarize. Monday's deal marked India's first crude oil payment to the UAE in rupees. Leaders from BRICS nations — a bloc that includes Brazil, Russia, India, China, and South Africa — have made a particular push for their own non-dollar currency.

Persons: Dedollarization, Stephen Jen Organizations: United, Indian Oil Corp, Abu, Abu Dhabi National Oil Company, Nations, Service, UAE, Eurizon Locations: United Arab Emirates, Abu Dhabi, India, Russia, Wall, Silicon, UAE, China, France, Israel, Brazil, South Africa, Argentina

A one hundred Argentine peso bill sits on top of several one hundred U.S. dollar bills in this illustration picture taken October 17, 2022. The Sunday primary vote saw outsider candidate Javier Milei, who has pledged to dollarize the economy and eventually scrap the central bank, win the largest share of the vote. Analyst Salvador Vitelli, however, said that despite the new measures a further devaluation was expected, even after the central bank pegged the official exchange rate at 350 pesos per dollar until the election. "The market does not seem to believe that they will be able to maintain the exchange rate until October," he said. Reporting by Walter Bianchi, Jorge Otaola and Lucinda Elliott; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Gustavo Ber, Javier Milei, Salvador Vitelli, Milei, Patricia Bullrich, Sergio Massa, Milei's dollarization, Peter West, Walter Bianchi, Jorge Otaola, Lucinda Elliott, Jamie Freed Organizations: Argentine, REUTERS, Reuters Graphics Reuters, Peronist, Economy, Monetary Fund, Sovereign, Thomson Locations: BUENOS AIRES, MERV

☆ Morning Bid: U.S. retail therapy as China funk deepens
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +5 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. China stocks fell again (.CSI300) and 10-year government bond yields fell to three-year lows. Ten-year Treasury yields hit their highest for the year at 4.23%. Elsewhere in the so-called BRICS emerging economies - the grouping of Brazil, Russia, India, China and South Africa - the dollar was also in command. Back stateside, the retail sales report will be accompanied by an earnings update from Home Depot - the first of the big retailers to report this week.

Persons: Mike Segar, Mike Dolan, Jackson, Jack Henry *, Neel Kashkari, Susan Fenton Organizations: Wall, New York Stock Exchange, REUTERS, Micron Technology, Bank of America's, Treasury, Agilent Technologies, Cardinal Health, NY, Minneapolis Federal, Thomson, Reuters Locations: Manhattan, New York City , New York, U.S, China, Japan, Brazil, Russia, India, South Africa, Ukraine, Argentina's, Canada

REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.

Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. The official FX rate will be fixed at 350 pesos per dollar until the October elections, the central bank said. The country's sovereign dollar bonds fell as much as 2 cents on the dollar, with the 2038 note leading the slide, according to MarketAxess data. Latin America's third-largest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, William Jackson, overvalued, Sunday's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Rodrigo Campos, Jorge Otaola, Medha Singh, Adam Jourdan, Bernadette Baum, John Stonestreet, Andrew Cawthorne Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Capital Economics, Investment, JPMorgan, Gross, Milei, Peronist, Economy, Analytica, Reuters Graphics Reuters, International Monetary Fund, IMF, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, MERV, Argentine, refinance, Washington, Rosario

☆ Argentina markets face election hangover after far-right primary bombshell
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +2 min

Argentina's markets face an election hangover on Monday after a shock primary election win for far-right libertarian Javier Milei, who wants to axe the central bank and dollarize the economy, shook up the race towards general elections in October. The primary to elect party candidates acts as a dress rehearsal for the general election in two months time. Markets had hoped for a strong performance by more moderate candidates, who had a bad night. After a similar primary election shock result in 2019, bonds and the currency crashed and remain in distressed territory, with the peso now held in check by capital controls the government has been unable to unwind. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Javier Milei, Milei, Dante Sica, Milei's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado Organizations: Markets, Peronist Locations: Argentine

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin MarcarianBUENOS AIRES/LONDON, Aug 14 (Reuters) - Argentina's markets face an election hangover on Monday after a shock primary vote win for far-right libertarian Javier Milei - who wants to axe the central bank and dollarize the economy - shook up the race towards presidential elections in October. Rock-singing, wild-haired economist and lawmaker Milei far outperformed forecasts to win some 30% of the vote, the largest share with over 90% of ballots counted. Latin America's third-biggest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, Milei, Diego Pereira, Milei's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Jorge Otaola, Adam Jourdan, Stephen Coates, Bernadette Baum Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Investment, JPMorgan, Reuters Graphics Reuters, Gross, Peronist, Economy, Analytica, International Monetary Fund, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, U.S, Argentine, refinance, Washington, Rosario

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