News of economy

Milei’s magical thinking about a Trump victory

Today 07:38 Argentina — or Latin America, for that matter — will not be an immediate priority for any incoming US administration, though Milei may leverage his ideological rapport with a potential President Trump.

by Marcelo J. García

POLITICS

The 'Caputo Clan': A family linked to politics and power

Today 07:36 The Caputo family has been involved in Argentina's politics for some time, though its most recent star, presidential advisor Santiago Caputo, was an unknown until Javier Milei rose to office. A look at the family tree of a clan long linked to politics and power.

by Giselle Leclercq

MONETARY POLICY

Central Bank lowers benchmark rate to 35% from 40%

Yesterday 12:46 Argentina’s Central Bank lowers benchmark interest rate for the first time in nearly six months.

aviation sector

JetSMART adds to Argentina fleet as Milei opens up the skies

Yesterday 12:40 Low-cost carrier JetSMART is increasing its fleet of planes in Argentina as President Milei seeks to deregulate the aviation industry and dismantle Aerolíneas Argentinas' domestic dominance.

Labour tensions

Unions stage massive transport strike to pressure Milei

30-10-2024 22:00 More than a million passengers affected by massive union-led strike; Over 1,800 trains, 260 flights cancelled as most transport adheres, with only buses left running.

EU-MERCOSUR TRADE DEAL

Delayed, stalled... but is EU-Mercosur free-trade deal imminent?

30-10-2024 19:58 Rumours are growing that the long-stalled, much-awaited free-trade deal between the European Union and Mercosur could be announced before the end of the year, perhaps even at next month's G20 summit in Brazil.

CENTRAL BANK MANOUEVRES

Milei taps unseasonal source in search of dollars

30-10-2024 10:06 Faced by a shortage of foreign reserves, the Central Bank is turning to an unusual source of funding for this time of year: a risky trade by crop exporters.

Labour unrest

Labour tensions erupt as Milei faces three strikes in a week

29-10-2024 21:18 Three strikes this week as union leaders ramp up pressure on President Javier Milei's government. First state workers walk off jobs, followed by transport strikes on consecutive days.

BUSINESS & INVESTMENT

Milei’s revamp offers CEOs a glimmer of optimism about Argentina

29-10-2024 11:17 Business leaders say they're feeling encouraged about Argentina for the first time in years.

MARKETS

Argentine debt rises out of distress territory on Milei reforms

28-10-2024 11:36 Prices for some of Argentina’s sovereign notes have soared to their highest levels since they were issued in a 2020 restructuring.

ANALYSING ARGENTINA

The Caputos spread their tentacles over the Mileis

26-10-2024 05:37 Not so long ago, two Caputos in Milei's inner circle seemed one too many. But now, Santiago and Luis Caputo are working closely in tandem.

by Marcelo J. García

STATE SELL OFF

Government to auction off more than 400 state properties

25-10-2024 22:14 Argentina’s government will put 400 properties up for auction in a bid to raise some US$800 million. Properties are either not being used, in bad condition or have large maintenance costs for the state.

EU-MERCOSUR TRADE DEAL

French minister talks down rumours of imminent EU-Mercosur trade agreement

25-10-2024 21:03 French Minister for Foreign Trade Sophie Primas has revealed to AFP the possibility of an agreement in the coming weeks

IMF PROGRAMME

IMF confirms Argentina ‘exploring’ new financing programme

25-10-2024 17:26 Argentina’s government is “exploring options” for a new financing programme with the International Monetary Fund, confirms top official.

IMF DEBT PROGRAMME

Argentina’s quest for more IMF money stalls on currency controls

25-10-2024 16:36 Argentina wants a fresh injection of money to lift controls without worrying about a currency sell-off. But the IMF doesn’t want its resources used to artificially prop up a currency, like Argentina has done so many times before.

GOVERNMENT SEEKING FUNDS

Argentina’s bonds rally as country seeks US$2.7 billion repo line

25-10-2024 11:29 Argentina’s bond prices increased amid reports that the government is negotiating a $2.7 billion, three-year credit line with banks to cover debt obligations due in January.

INTERNATIONAL ASSESSMENT

Argentina dodges FATF money-laundering ‘grey list’

24-10-2024 18:44 Financial Action Task Force money-laundering watchdog approves report on Argentina and Milei government avoids possible sanctions which might have placed investments at risk.

Lihtium in Argentina

Eramet buys out Tsingshan from Argentina lithium project

24-10-2024 17:50 French miner Eramet SA to buy back Tsingshan Holding Group Co’s stake in an Argentinian lithium project

GEOPOLITICS

Brazil reluctant to pick between US and China in polarised world

23-10-2024 23:38 Brazilian leaders are walking a fine diplomatic line to appeal to both the US and China and shield their nation from any potential blowback in an increasingly polarised world.

POLITICS & ECONOMY

Argentina seeks US$2.7-billion line to cover debt maturities

23-10-2024 20:39 Argentina’s government is in talks with several banks to obtain a loan agreement of around US$2.7 billion for about three years in order to meet its principal debt obligations next January.

EU-MERCOSUR TRADE DEAL

EU ‘very close to closing’ agreement with Mercosur, says Spain PM

23-10-2024 16:20 The European Union is "very close to closing" the long-delayed free-trade agreement with Mercosur trade bloc, said Spanish Prime Minister Pedro Sánchez.

IMF CREDIT LINE

Caputo says Argentina in talks with IMF over new deal, fresh funds

23-10-2024 13:58 After being hailed as “finance minister of the year” by a magazine in Washington, Argentina’s Economy Minister Luis Caputo Caputo said talks with the International Monetary Fund over a new agreement that includes fresh funds are underway.

'Shock Therapy'

Clamour for pesos leads banks to tap repo market

23-10-2024 12:47 A surge in demand for local currency in recent months has left Argentina's commercial banks needing access to pesos.

FINANCE & BUSINESS

Nubank is taking new look at Argentina under Milei, CEO says

23-10-2024 12:13 Nubank “will watch” Argentina over the next 12 months, and is “taking a new look” at the country under President Javier Milei, says Chief Executive Officer David Vélez.

ECONOMIC OUTLOOK

IMF casts doubt over Milei administration’s inflation estimate

22-10-2024 12:38 The International Monetary Fund estimates Argentina’s inflation rate in 2025 will hit 45%, a significant variation from the 18% projected by Javier Milei’s government in its budget bill.

POLITICS & ECONOMY

AFIP to ARCA: Milei government announces ‘dissolution’ of tax bureau

21-10-2024 17:15 Argentina’s government says it will shutter AFIP tax collection agency and replace it with ‘Agencia de Recaudación y Control Aduanero (ARCA); Move will see 34% reduction in staffing levels.

EDITORIAL

Obscurity obstructs security

19-10-2024 06:46 Both Peronism and the business world are undergoing a transitional phase.

ENERGY & GAS

Pampa Energía sizes up LNG projects as Milei aids shale growth

18-10-2024 17:37 Energy producer Pampa Energía SA will decide in the next three months whether to partner on a multibillion-dollar LNG plant, says Marcelo Mindlin.

POLITICS

Kicillof uses Loyalty Day speech to call for Peronist unity

18-10-2024 00:24 Buenos Aires Province governor was the only speaker at the event celebrating Peronist Loyalty Day and the life of Juan Perón. Brushing aside non-appearance from La Cámpora, Kicillof calls for unity and harshly criticised President Javier Milei.

CHANGES TO GOVERNMENT

PRO gains another spot in government as energy secretary resigns

17-10-2024 16:22 Eduardo Chirillo resigns as energy secretary; María del Carmen Tettamanti, former chief of Camuzzi gas distributor and advisor to Patricia Bullrich, appointed to post.

EDUCATION ROW

Students take classes onto streets to protest Milei's university cutbacks

16-10-2024 16:20 Student demonstrators stage open classes on the streets of Buenos Aires as they draw attention to cutbacks on state higher education institutions imposed by President Javier Milei's government.

CAPITAL CONTROLS

Why Milei can’t lift currency controls any time soon

16-10-2024 12:15 Argentina has had strict currency controls in place for the past nine out of 13 years. President Javier Milei wants to get rid of them, but for now, he's sticking to the existing regime.

Economic - Analysis

Global public debt to hit US$100 trillion by end of 2024, IMF says

16-10-2024 06:53 Global public debt risks of rising to US$100 trillion by the end of 2024, warns International Monetary Fund.

CAPITAL CONTROLS

Government to adopt flexible exchange rate after lifting controls

15-10-2024 23:17 Milei states at conference that government will adopt a “flexible” exchange rate on the peso after it lifts capital controls.

SELL OFF OF STATE AIRLINE

Milei: Aerolíneas Argentinas could be handed over to employees if not sold

15-10-2024 18:19 Argentina’s president reiterates his government’s desire to sell off flagship state airline through privatisation, complaining that the problem is the workers “do not want it.”

POLITICS

Milei says state universities not under threat as occupations multiply

15-10-2024 17:13 As student takeovers of campuses multiply nationwide, President Milei says Argentina's public university system is “not under discussion” but vows auditing of state institutions will take place.

COURT RULING

Argentina rejected by UK Supreme Court in US$1.5-billion bond case

15-10-2024 13:34 Negative ruling for Argentina over appeal; Nation may be forced to pay US$1.5 billion in damages to holders of the country’s growth-linked bonds.

ECONOMY – ANALYSIS

Milei gets vote of confidence in wave of Argentine debt sales

15-10-2024 11:22 Argentina’s largest companies are rushing to issue dollar debt, a tentative sign that Javier Milei’s shock therapy is starting to restore investor confidence.

POLITICS & CONGRESS

Bill targeting ‘obsolete’ laws, bureaucracy reaches Congress

14-10-2024 12:50 State deregulation czar Federico Sturzenegger confirms President Javier Milei’s government has sent the ‘Ley Hojarasca’ bill to Congress that seeks repeal of around 70 laws considered “obsolete” or that “limit the freedom of citizens.”

MULTILATERAL FUNDING

Latin American development bank announces US$3.8 billion in aid

14-10-2024 11:57 Ilan Goldfajn, head of the Inter-American Development Bank (IDB) voices clear support for President Javier Milei’s reforms and quest for fiscal balance.

BANKING & FINANCE

Central Bank working to enable dollar debt cards

14-10-2024 11:13 Argentina’s Central Bank is working with banks and credit card companies to enable debt cards denominated in dollars.

International Monetary Fund

IMF moves to ease billions in penalty fees for biggest borrowers

12-10-2024 13:52 International Monetary Fund reduces borrowing costs for some of the world’s most indebted nations, slashing so-called 'surcharges' in a move that will benefit Argentina, among other nations.

OPINION & ANALYSIS

How economic and strategic alliances are changing in a multipolar world

12-10-2024 06:23 A guide to the new fault lines of geopolitics — from BRICS versus the G7 to Lula and Milei’s ideological rivalry in Latin America.

EDITORIAL

Reducing the issue

12-10-2024 06:16 Both sides fall into the error of reducing this issue to a budget tussle without bringing up the major structural problems of university education.

POLITICS – ANALYSIS

Veto power! Milei’s ‘caste-like’ adaptations

12-10-2024 06:04 Milei’s libertarians took on two of the most sensitive issues in Argentine politics – our grannies and public education – and successfully came out of the bout on top without sparking an uprising.

by Agustino Fontevecchia

EDUCATION ROW

Striking teachers, students on war footing against Milei's austerity

10-10-2024 23:11 As students occupy university faculties across the country, the government warns such actions are “a crime” and asks the courts to intervene and order evictions.

ECONOMY – ANALYSIS

Argentina inflation slows to lowest under Milei

10-10-2024 16:36 Monthly inflation reached the lowest level since late 2021 in September – a significant win for President Javier Milei.

ECONOMIC INDICATORS

Monthly inflation slows to lowest level since November 2021

10-10-2024 16:17 Consumer prices rose 3.5% in September; Annual inflation now at 209%, with hikes of 101.6% so far this year.

by James Grainger

GOVERNMENT & POLITICS

Adorni says 40,000 contracted state workers will face 'suitability test'

10-10-2024 15:00 Presidential Spokesperson Manuel Adorni says as many as 40,000 fixed-term state employees will face a suitability test before their contracts will be renewed.