By Jorgelina do Rosario and Jorge Otaola
BUENOS AIRES (Reuters) – Argentine former central banker Luis Caputo, frontrunner to be the new economy minister, met local and international bank officials on Friday to lay out the economic plans of President-elect Javier Milei, three sources and a banking group said.
The meeting at the La Rural conference center in Buenos Aires comes as Milei, who has pledged “shock therapy” for the embattled economy, races to put together his economic team. Caputo has been tipped as a front-runner for the role.
In the meeting, however, Caputo declined to confirm that he would be the new economy minister, two of the sources said. Milei has not yet confirmed any appointment.
However, signs that libertarian outsider Milei is leaning towards a more orthodox economic team and policies have spurred markets this week, with bonds up almost 14% and equities over 40% since he won a run-off election last Sunday.
Caputo emphasized the idea of an abrupt economic adjustment, needed to tamp down inflation nearing 150%, head off a looming recession, undo an array of capital controls and rebuild net reserves seen at negative $10 billion.
“Our approach is fiscal and monetary shock from day one. The roadmap is orthodox and