BUENOS AIRES/LONDON -Argentina’s government devalued its currency by nearly 18 percent on Monday while the benchmark interest rate was raised by 21 percentage points to 118 percent , the central bank said, as financialmarkets reeled the day after a shock primary election result.
Congressman Javier Milei, a far-right libertarian who wants to axe the central bank and dollarize the economy, shook up the presidential elections on Sunday, winning 30 percent of the vote, the largest share with over 97 percent of ballots counted.
It was a huge shake-up in a ballot that acts as a dress rehearsal for the national election in October.Markets had been betting on a strong performance by mo…
Keep on reading: Argentina devalues peso, raises rates after shock primary vote
