ECONOMIC OUTLOOK Milei’s team sees inflation slowing faster than economist survey Today 12:04 President Javier Milei’s economic team sees monthly inflation slowing much faster this year than analysts anticipate.
Marcha Federal Universitaria Massive crowds march against Milei’s cuts to state universities Yesterday 21:08 Large crowds turn out nationwide for march in defence of universities and state education; One of biggest rallies yet of President Javier Milei's government, with estimates ranging from 100,000 to half a million.
ECONOMIC INDICATORS Economy slumped for fourth straight month in February Yesterday 20:18 Economic activity fell 3.2% in February from a year ago, a fourth straight monthly decline. On a monthly basis, activity declined 0.2%, according to government data.
CADENA NACIONAL BROADCAST Milei trumpets quarterly budget surplus in TV address Yesterday 10:49 President announces Argentina’s first quarterly fiscal surplus since 2008 during a televised speech, promising his commitment to eliminating deficits wouldn’t waver throughout his term.
POLITICS & ECONOMY 'The last stretch': Milei praises 'heroic' effort in prime-time address 22-04-2024 22:08 President uses prime-time broadcast to highlight first quarterly budget surplus since 2008. "This is the last stretch of a heroic effort," Milei tells nationwide.
BUSINESS & INVESTMENT Oil driller PAE pitches investors on global bond deal 22-04-2024 21:11 Pan American Energy, one of Argentina’s largest crude exporters, is meeting with investors this week to gauge demand for a global bond sale.
STATE ENERGY FIRM Burford seeks Argentina’s YPF stake to pay US$16-billion award 22-04-2024 20:29 Burford Capital asks US judge to grant it controlling 51% stake in YPF as part of its effort to collect on a US$16-billion court judegment.
SURVEY SAYS Poll: Milei retaining support despite complaints over dengue, education 22-04-2024 13:23 New survey by Opina Argentina shows President Milei retains 49% approval rating, despite anger at weakening of pensions, attack on universities and response to dengue fever outbreak.
ECONOMIC ASSESSMENT IMF: Argentina meeting programme targets by ‘significant margins’ 22-04-2024 11:53 Milei’s stabilisation plan "has yielded better results than we expected in our last programme review," says Rodrigo Valdés, IMF's director for Latin America and the Caribbean.
POLITICS & ECONOMY Milei to hail fiscal surplus in prime-time address 22-04-2024 11:00 President Javier Milei set to address the nation tonight in a prime-time ‘Cadena Nacional’ national broadcast, during which he hail his government’s progress on balancing Argentina’s books.
EDITORIAL Pre-paid or re-paid? 20-04-2024 05:14 Subordinating medical fees to the dictates of a usually populist government did not work since it placed pricing hopelessly out of sync with the costs, but the naïve faith that the market could correct the damage of years in three months was a non-starter.
CONGRESS & POLITICS Senators raise their own pay as Argentines cope with hardship 19-04-2024 22:41 Senators vote by a show of hands to raise their own salaries by 170%, while half of their compatriots live in poverty.
EDUCATION UBA students and teachers demonstrate against Milei's cutbacks 19-04-2024 10:25 Students and teachers of the University of Buenos Aires protested with public classes in the street and symbolic embraces of buildings against the government’s drastic austerity.
POLITICS & ECONOMY Caputo looks for funds for Argentina in Washington 19-04-2024 00:07 Economy Minister Luis Caputo is on the search for funds in Washington, seeking the US$15 billion President Javier Milei says Argentina needs to remove currency controls.
RELATIONS WITH CHINA Central Bank chief Bausili among top officials headed to China 18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.
NO HAY PLATA? Rebellion in Senate: Pay increase passed by show of hands and without debate 18-04-2024 17:40 Milei lashes out via social networks after senators vote to approve pay increase; "2025 will see a historic hiding" for the caste, says President.
BUSINESS & INVESTMENT Mercado Libre to recruit 18,000 more staff in Latin America this year 18-04-2024 16:25 Mercado Libre announced “the hiring of 18,000 people in the region, which will increase its payroll to over 76,000 by the end of 2024”, the company said in a press release.
INTERNATIONAL MONETARY FUND Inflation falling ‘a little faster than expected,’ says Georgieva 18-04-2024 15:51 Kristalina Georgieva, the head of the International Monetary Fund, says "inflation is coming down faster than expected" in Argentina.
BLOOMBERG Caputo speech at JPMorgan event helps propel Argentine bonds 18-04-2024 13:18 Argentina won’t lift capital controls until international reserves are high enough to safeguard against a potential currency run, Luis Caputo tells investors.
HEALTH & ECONOMY Government intervenes to halt private health scheme price surge 17-04-2024 17:21 Free-market Milei administration uses state power to challenge firms and announces most prepaid health schemes are rolling back runaway price increases; "The Argentina of wise guys is over," declares presidential spokesman Manuel Adorni.
agriculture & economy Bug plagues crops in setback for Milei’s recovery plan 17-04-2024 16:49 Argentina corn farmers had high hopes for this season’s harvest. Now a bug is getting in the way.
BUSINESS & INVESTMENT Top CEOs to heap praise on Milei at Patagonia retreat 17-04-2024 13:18 Elsztain will host president at exclusive Bariloche event; IRSA starting construction on biggest project in its history
ECONOMIC INDICATORS Beef consumption fell to historic low in first quarter 16-04-2024 20:21 Beef sales hit a historic low in the first quarter of 2024 amid a heavy drop in consumption, falling to their lowest level in three decades.
ECONOMIC OUTLOOK IMF improves inflation projection: 150% this year, but 45% in 2025 16-04-2024 15:44 Latest 'World Economic Outlook' report predicts Argentina’s GDP will contract by 2.8% this. Milei’s "shock plan" will impact economy, arriving hand-in-hand with recession, says Fund.
ECONOMIC OUTLOOK IMF ups global growth forecast but signals medium-term pessimism 16-04-2024 13:25 International Monetary Fund slightly raises outlook for global growth this year to 3.2%; Multilateral lenders reiterates forecast that Argentina's GDP will fall by 2.8% and that inflation in 2024 will be 150%.
FOREIGN POLICY & DIPLOMACY Mondino warms ties with Brazil, but no Milei-Lula meet on cards 16-04-2024 13:10 "The possibility of a presidential meeting is always present. And we hope that at some point it will happen," Argentina's Foreign Minister Diana Mondino declares after visit to Brasília.
DEFENCE SPENDING Petri hails Milei's leadership as he inks deal for F-16 jets in Denmark 16-04-2024 12:52 Argentina’s Defence Minister offers gushing praise for President Javier Milei as he visits a Danish air base to finalise future purchase of 24 F-16 fighter jets from Denmark.
ECONOMY & INDUSTRY Cheap Chinese steel threatens jobs in Latin America 16-04-2024 09:45 Metal-workers in Latin America are clamouring for higher import tariffs as an avalanche of cheap Chinese steel floods the region.
FOREIGN POLICY & DIPLOMACY Mondino says Argentina will ‘never interfere' in Brazil’s affairs 15-04-2024 17:06 Foreign Minister Diana Mondino denies reports that President Javier Milei will mediate in Elon Musk’s row with Brazilian Judiciary, declaring that Argentina would “never interfere” in another nation's affairs.
Bloomberg Inflation near 300% wipes out tourists’ deep discounts 13-04-2024 17:13 Surging inflation threatens to crimp a key source of tourism revenue as foreigners opt for other destinations.
AGRICULTURE & ECONOMY World’s top fertiliser maker plans exit from Argentina, Chile 13-04-2024 16:59 Nutrien, the world’s largest maker of fertilisers, says it is looking to sell its retail operations in Argentina, Chile and Uruguay.
Editorial The medium as the message 13-04-2024 05:54 Milei is the leader of a pack which competes to be the most outrageous but this week he seems to have been trumped by an underling: Alberto ‘Bertie’ Benegas Lynch.
INTERVIEW / PERIODISMO PURO Guillermo Dietrich: ‘I’m backing this government all I can so that it does well’ 13-04-2024 05:47 Former transport minister and close ally of Mauricio Macri on the Milei government, state companies and Juntos por el Cambio. by Jorge Fontevecchia
ECONOMIC INDICATORS Inflation slowed to 11% in March, annual rate hits 287% 12-04-2024 16:56 Consumer price hikes continue to slow, but remain in double digits. Education records highest increases, rising 52.7 percent as increases as new school year begins.
BLOOMBERG - ANALYSIS Monthly inflation slowed more than expected in March 12-04-2024 16:35 Monthly inflation in Argentina slowed more than expected in March, cooling for the third straight month.
MILEI MEETS MUSK President Milei meets Elon Musk at Tesla factory in Austin 12-04-2024 14:52 Argentina’s President flies from Miami to Texas for a meeting with SpaceX boss Elon Musk at his Telsa factory in Austin; X owner gives Javier Milei tour of building as photos of encounter go viral online.
Bloomberg Tech giant with 30,000 employees has no return-to-office policy 12-04-2024 14:17 Software company Globant SA’s sleek office in downtown Buenos Aires are quite the attraction, but Chief Executive Officer Martin Migoya is choosing not to adopt a return-to-office policy for his nearly 30,000 employees across 33 countries.
BLOOMBERG Real-estate mogul eyes ‘city-towns’ from Patagonia to Paraguay 12-04-2024 10:33 Eduardo Costantini, Argentine real-estate mogul who popularised gated community concept, plans to spend up to US$1.5 billion developing more in new areas.
ECONOMIC INDICATORS Central Bank cuts interest rate to 70%, markets see inflation easing 12-04-2024 10:22 Argentina’s Central Bank cuts main interest rate to 70% from 80% – the third time since President Javier Milei took office.
SOCIAL UNREST Eleven arrests as police crack down on protesters in Buenos Aires 10-04-2024 16:28 Police water cannons, tear gas and rubber bullets to break up a temporary blockade of Avenida 9 de Julia.
BLOOMBERG – ANALYSIS HSBC joins firms exiting Argentina amid Milei's economic makeover 10-04-2024 15:24 Foreign companies reluctance contrasts with local optimism; Exxon and Clorox decided to divest investments in Argentina.
BLOOMBERG – ANALYSIS Milei seeks second chance from Congress with scaled-back reform 10-04-2024 14:53 Government is circulating trimmed down draft version of its sweeping reform bill to lawmakers as Milei seeks to overhaul economy.
HEALTH & ECONOMY Argentina is running out of bug spray amid record dengue surge 10-04-2024 10:08 Bug spray is out of stock as Argentina confronts its worst-ever outbreak of dengue, a mosquito-borne illness that’s surged across Latin America amid high heat and heavy rains.
INTERNATIONAL MONETARY FUND IMF faces pressure to cut billions in fees for large borrowers 09-04-2024 16:51 IMF releases statement saying that “a number” of its board members were open to reviewing policies around surcharges, a move that could benefit Argentina, among other nations.
Provincial debt La Rioja Province creditors gear up for battle on missed bond payment 09-04-2024 16:47 Creditors of Argentina’s La Rioja Province tapped advisers ahead of potential debt talks as they quibble with officials over more than US$16 million in bond payments.
MUTUAL APPRECIATION SOCIETY President Milei to meet Elon Musk at Tesla factory in Texas 09-04-2024 12:59 After months of online flattery and praise, Argentina’s self-proclaimed “anarcho-capitalist” head of state will finally meet billionaire businessman Elon Musk in-person at Tesla’s factory in Austin, Texas.
BANKING & BUSINESS HSBC sells Argentina division to Banco Galicia for US$550 million 09-04-2024 12:12 HSBC will sell its Argentina operation to Grupo Financiero Galicia for US$550 million, subject to price adjustments. Deal includes all of HSBC Argentina’s business, which ranges from banking to asset management and insurance, as well as US$100 million of subordinated debt.
TAX-EVASION SCANDAL 'Panama Papers' trial to begin eight years after tax scandal 08-04-2024 09:20 Twenty-seven people in the dock for money-laundering as the "Panama Papers" case reaches trial, eight years after scandal first broke out.
Editorial Mixed messages 06-04-2024 06:29 While Argentina’s government has turned full circle between the two Easters from leftist populism to far right devotees of the market calling themselves libertarians, inflation persists as the basic fact of life .
POLITICS – ANALYSIS Attitudinal shifts and the risks of upheaval 06-04-2024 06:24 Milei’s “negative rhetoric,” sustained by his synthetic power, is useful in setting the agenda, but it doesn’t put food on the table. by Agustino Fontevecchia