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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ARGENTINA
Patricia Bullrich, presidential candidate for the conservative Together for Change (JxC, Cambio) alliance has stated that should she win the election in October, she will not take Argentina into the BRICS group. Bullrich: ""Our position is against joining the BRICS. A few minutes ago, the President, who is in a situation of enormous weakness and unable to exercise his position, has just committed Argentina to joining the BRICS, while the invasion is taking place to Ukraine".
- Given his support for dollarisation of the economy, presidential frontrunner Javier Milei may also come out against Argentina joining the bloc. This would put two of the three candidates most likely to win the presidency against membership, with Economy Minister Sergio Massa from the incumbent Peronist Union for the Homeland (UP) potentially the only serious challenger likely to go through with President Alberto Fernandez's plan.
- Latest polling shows no candidate likely to win in the 22 October first round. Milei looks likely to make the 19 November second round, but both Bullrich and Massa have come in second place in polling held post-PASO primaries.
- With Saudi Arabia's foreign minister offering less than full-throated support for his country entering the BRICS, the loss of Argentina would come as a notable blow to the bloc, leaving Iran, Egypt, the UAE, and Ethiopia as the only new entrants.
Chart 1. PASO Primary Results (13 Aug) and Presidential Election Opinion Polling, %
Source: CB Consultora, OPSA, DC Consultores, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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