* Chile peso slips with elections on Nov. 21 * Risk of more populist near-term policies in Argentina - GS * Peru sol firms, GDP seen exceeding pre-pandemic levels By Susan Mathew Nov 15 (Reuters) - Chile"s peso started the week leading up to presidential elections lower, while Argentine assets were seen having a jittery session on Monday as the ruing center-left Peronists suffered a defeat in mid-term elections. Argentina"s ruling Peronist party was reeling on Sunday after a midterm vote that saw its center-left coalition lose its majority in Congress for the first time in almost 40 years and taste defeat in its stronghold province of Buenos Aires. The heavily controlled peso fell about 0.1% to 100.31 per dollar while a move in the informal peso exchange rate was awaited. Argentina"s country risk fell a significant 21 basis points. "The market is likely to take a net positive view of the election results. A more market-friendly composition of Congress could lead to more effective checks and balances and ultimately a policy regime shift in 2023," said Alberto Ramos, an analyst at Goldman Sachs. "But there is also the risk of more populist near-term policies." Citi strategists said they remain overweight on Argentina credit on potential political change and valuations. "We think that bonds have found a bottom in price and risk reward look attractive." Several markets in Latin America, including Brazil and Mexico were closed for local holidays on Monday. Even as prices of Chile"s top export, copper, steadied after a fall, the currency fell 0.3%, moving almost 2% away from seven-week highs. Ahead of elections on Nov. 21, conservative Chilean presidential candidate Jose Antonio Kast said that he does not feel like a "far-right" politician, as he has been called in the press, but rather a candidate "of common sense." Polls showing him neck-and-neck with his left-wing rival Gabriel Boric. Market"s generally favor right-wingers as they are typically business friendly. Peru"s sol firmed slightly with the central bank saying the country is on track to exceed its 2019 pre-pandemic gross domestic product in 2021. Central bank president Julio Velarde said last week that Peru"s economy could grow 13.2% in 2021, while the official forecast stands at 11.9%. Key Latin American stock indexes and currencies at 1406 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1289.06 0.28 MSCI LatAm 2183.00 -0.52 Chile IPSA 4446.30 -0.88 Argentina MerVal - - Currencies Latest Daily % change Chile peso 803.2 -0.32 Peru sol 4.015 -0.24 (Reporting by Susan Mathew in Bengaluru; Editing by Andrea Ricci)