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ECONOMY | 25-08-2023 10:58

Argentina’s Javier Milei to send team for investor talks in New York

Advisers for Javier Milei will travel to New York in September to present their economic plans to Wall Street banks for the first time.

Advisers for Argentine presidential candidate Javier Milei will travel to New York in September to present their economic plans to Wall Street banks for the first time, according to three people with direct knowledge of the matter. 

Milei, who unexpectedly won Argentina’s primary election on August 13, could join his team toward the end of the trip, which is scheduled for the week of September 6, one of the people said, asking not to be named discussing unconfirmed plans.

A spokesman for Milei’s campaign said no trip has officially been scheduled yet.  

Advisers travelling to New York include Darío Epstein, congressional candidate Diana Mondino and Senate candidate Juan Napoli, according to the people, who added one meeting is expected to be hosted by Gerardo Mato, a former HSBC Holdings PLC executive in Latin America. 

Milei’s boldest proposals — closing Argentina’s Central Bank and replacing the peso with the US dollar as Argentina’s currency — are bound to face Wall Street scepticism. A wide range of economists argue that his dollarisation plan risks worsening inflation already over 100 percent in the short term as the transition from pesos to dollars lacks investor support. Milei’s other proposals, such as a fiscal surplus, free trade and tax cuts, are more aligned with traditional, market-friendly economic policy.

Argentina holds its general election on October 22. If no candidate receives 45 percent of votes or at least 40 percent with a 10-percentage point difference, there will be a run-off vote between the top two candidates on November 19. 

by Ignacio Olivera Doll, Bloomberg

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