Argentina’s Next President Will Tread a Thorny Path Forward

By Arturo C. Porzecanski

In a nation caught in economic crisis, the odds are stacked against Massa or Milei the day after the presidential election, writes a leading emerging-market economist.

Two candidates, Sergio Massa and Javier Milei, now chase Argentina’s presidency. While the contentious runoff on November 19 rivets most citizens, a crucial question hangs over the upcoming vote: Would either of them be able to solve the country’s worst crisis in more than two decades While there’s no easy answer, a painful adjustment is unavoidable. The last man standing will inherit a dystopian economy undermined by runaway inflation, a deepening recession, widespread poverty and failing fiscal and monetary policies. To make things worse, the central bank has almost no...

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