ANALYST VIEW -Argentine far-right libertarian Milei sweeps to victory

Right-wing libertarian Javier Milei has won Argentina's presidential election, putting an outsider with radical views in charge to fix South America's No. 2 economy battered by triple-digit inflation, a looming recession and rising poverty. PEREIRA, JPMORGAN, NEW YORK, UNITED STATES "President Elect Milei is offering a bold reform agenda ahead, but the main challenge is that it may be hindered by political manoeuvrability.

Right-wing libertarian Javier Milei has won Argentina's presidential election, putting an outsider with radical views in charge to fix South America's No. 2 economy battered by triple-digit inflation, a looming recession and rising poverty. Argentina's markets are closed on Monday for a local holiday, but some overseas-listed sovereign bonds and equities will trade, mainly in Europe and the United States.

Below are comments from analysts: DIEGO W. PEREIRA, JPMORGAN, NEW YORK, UNITED STATES

"President Elect Milei is offering a bold reform agenda ahead, but the main challenge is that it may be hindered by political manoeuvrability. Governability risks lay ahead given the lack of party structure, and also the power distribution in Congress after the general elections. "Any stabilization program aiming to successfully reduce inflation must address the consolidated public sector deficit as a whole, encompassing both the headline fiscal deficit and central bank interest payments on remunerated liabilities, together with the strengthening of the central bank balance sheet amid FX reserves rebuilding."

SERGIO ARMELLA, GOLDMAN SACHS, NEW YORK, UNITED STATES "It is indisputable that a swift change from the failed economic policies of the past is imperative. The accumulated imbalances in the economy have grown too large and must be addressed promptly.

"In our view, a tangible and structural fiscal adjustment (e.g., moving to a sustainable primary surplus), a responsible independent central bank free from the grip of fiscal dominance, financial liberalization, and structural reforms to make the economy more open, productive, and flexible, are needed to put the economy on a sustainable path."