News of economy

This combination of pictures created on February 04, 2025 shows, L-R, US President Donald Trump in the Oval Office of the White House on February 3, 2025, in Washington, DC and China's President Xi Jinping speaking in Macau on December 19, 2024.

Trump’s China trade war is forcing Latin America to pick a side

Today 14:02 Intensifying battle between world’s two largest economies has left governments grappling with the reality that their days of doing big business with Beijing without serious blowback from Washington are numbered.

US TREASURY SECRETARY

Bessent expects Argentina to be able to pay off China swap

Yesterday 19:13 Scott Bessent hails Argentina as a free-market beacon in Latin America; US Treasury secretary said he expects Argentina to be able to pay off its swap line with China, but that US government isn’t considering providing any direct credit.

A combine harvester cuts through a field of soybean plants at a drought-affected farm in San José de la Esquina, Argentina in April 2023.

AGRICULTURE & ECONOMY

Milei tells farmers to sell soy now as peso slides 12%

Yesterday 19:08 Farmers are starting to harvest their soy crop, worth billions of dollars in export revenues that Milei desperately needs at the Central Bank. But, so far, they have traded it at a crawl.

US Treasury Secretary Scott Bessent in Buenos Aires.

Foreign relations & diplomacy

US Treasury secretary offers 'full support' to Milei at Casa Rosada

Yesterday 17:29 US Treasury Scott Bessent visits Buenos Aires for talks with Javier Milei, his economic team and private-sector representatives; Official tells President he wants Washington to be Argentina's "partner of choice".

A sign with the value of the dollar exchange rate is seen in a store window in Buenos Aires on April 14, 2025.

ECONOMIC CHANGES

Peso slides, bonds jump after FX rules lifted

Yesterday 13:46 Argentina’s sovereign debt climbed Monday while the peso slipped after the country lifted most of its currency-market restrictions.

A woman stands in front of a money exchange office with the value of the currency in the window in Buenos Aires on April 14, 2025.

CHAU CEPO

'Cepo' lifted: Peso depreciates 8.4% in initial trading

Yesterday 13:24 Peso depreciated 8.4% against the US dollar at the open of markets on Monday, following the partial removal of foreign exchange controls in place since 2019.

ECONOMY – ANALYSIS

IMF bets billions on Milei’s chainsaw to avert past debacles

13-04-2025 08:50 Frontloading disbursements is a controversial move that increases the IMF’s exposure to its biggest debtor, just as Milei faces the same policy dilemmas that have doomed his predecessors.

A man holds a sign that reads 'Milei swindler. No to the IMF' during a protest of pensioners and union members against the government of Argentina's President Javier Milei in front of the National Congress in Buenos Aires on April 9, 2025

ARGENTINA & THE IMF

Another IMF loan: for Argentina, it’s Groundhog Day

12-04-2025 15:24 Generations of Argentines feel their country is trapped in a recurring cycle: yet another loan from the International Monetary Fund to rescue a volatile economy.

POLITICS – ANALYSIS

Milei gains 'breathing room' from his ties with Trump

12-04-2025 11:54 The support President Milei has garnered from the Trump administration stands in stark contrast to the mounting challenges on the home front.

by Pablo Varela

A woman holds her phone next to posters plastered by political organisation La Cámpora reading 'IMF never again' on a construction site in Buenos Aires on April 11, 2025.

IMF DEBT PROGRAMME

Argentina and the International Monetary Fund: A long, tricky history

12-04-2025 09:29 Argentina, which has a track record of economic crises and hyperinflation, is already the IMF's biggest debtor, ahead even of war-torn Ukraine.

As I see it

Trump has China in the crosshairs

12-04-2025 05:41 The 19th century belonged to the United Kingdom, the 20th to the United States. And the 21st?

by James Neilson

Milei and Argentina caught in Trump's trade war with China.

Global politics – Analysis

Trump, Milei and how to lose the trust of markets and voters

12-04-2025 05:37 Trump stepped back from the edge, at least momentarily, even though he is keeping his finger on the trigger.

by Agustino Fontevecchia

Analysing Argentina

Careful Javier, the ‘caste’ smells blood

12-04-2025 05:29 Legislators who had until now been cooperative or aloof toward confrontation with Milei are changing their tune, in line with what they hear from their constituencies.

by Marcelo J. García

Campaign comments

And so it begins

12-04-2025 05:22 This year’s midterm voting begins tomorrow in the major province of Santa Fe with the constituent assembly elections.

by Michael Soltys

Editorial

Into More Frustrations

12-04-2025 05:06 A Ruby Tuesday for President Javier Milei while the world at large is in an acute age of uncertainty thanks to Donald Trump’s tariff onslaught.

POLITICS – ANALYSIS

Milei launches new economic phase, with nod to middle class

11-04-2025 23:56 Casa Rosada expresses satisfaction as alignment with Trump bears fruit and secures an unprecedented initial disbursement from the International Monetary Fund.

Argentina's President Javier Milei announces the new agreement with the IMF (International Monetary Fund) surrounded by his Cabinet.

ECONOMIC CHANGES

Milei ends 'cepo' as IMF board approves US$20-billion bailout

11-04-2025 23:32 Milei declares "cepo is gone for good" as IMF unlocks US$12 billion in immediate funding and Argentina lifts capital controls in 48-month US$20-billion programme.

Javier Milei’s government is devaluing the Argentine peso by one percent each month using what’s known as a crawling peg.

END OF CURRENCY CONTROLS

New peso-greenback currency band could mean 23% devaluation

11-04-2025 19:09 Argentina has announced the introduction of a new exchange rate band for the peso, ranging from 1,000 to 1,400 per US dollar, following the removal of currency controls next week.

Argentina’s Economy Minister Luis Caputo arrives at the Casa Rosada Presidential Palace in Buenos Aires on April 11, 2025.

FIN DE CEPO?

Caputo announces new IMF deal, end to exchange controls

11-04-2025 18:45 President Javier Milei's government announces elimination of foreign exchange controls ahead of confirmation of new US$20-billion IMF programme.

The Central Bank of Argentina in Buenos Aires.

ECONOMY – ANALYSIS

Argentina lands US$20-billion IMF agreement and eases FX rules

11-04-2025 18:30 Central Bank says it will let peso trade within a range of 1,000 pesos to 1,4000 pesos per dollar in what’s called a dirty or managed float.

Economy Minister Luis Caputo and Central Bank Governor Santiago Bausili prepare for a press conference.

ECONOMY & POLITICS

'Fin de cepo': Argentina overhauls exchange rate access

11-04-2025 18:27 President Javier Milei’s government to lift capital and currency controls as of Monday, with exchange rate of between 1,000 and 1,4,00 per greenback; ‘Phase Three’ of economic programme will see monthly cap lifted for individuals and firms.

Argentina’s Central Bank in Buenos Aires.

CURRENCY WARS

Argentina's Central Bank sells up to US$400 million to defend peso

11-04-2025 17:32 Argentina's Central Bank sold as much as US$400 million to defend the peso on Friday – the most in a day since mid-March.

MERCOSUR SUMMIT

Mercosur to expand common tariff exemptions as trade war rages

11-04-2025 17:30 Mercosur countries have decided to relax common external tariffs on 50 products of the choice of each of its members, giving them more flexibility to negotiate deals.

A supermarket in Buenos Aires, Argentina, on Tuesday, February 13, 2024. P

ECONOMY – ANALYSIS

Argentina inflation picks up more than expected before IMF deal

11-04-2025 17:28 President Javier Milei said recently he only expects inflation to fall below two percent in May or June, blaming the sticky inflation on political volatility.

Ca7riel and Paco Amoroso perform on Jimmy Fallon’s 'The Tonight Show'.

THE WEEK IN REVIEW

Stories that caught our eye: April 4 to 11

11-04-2025 16:56 A selection of the stories that caught our eye over the last seven days in Argentina and beyond.

A woman looks at prices in a supermarket in Buenos Aires.

ECONOMIC INDICATORS

INDEC reveals uptick in inflation: Prices up 3.7% in March

11-04-2025 16:25 Inflation soared in March, accelerating to 3.7% – a second straight monthly rise; Consumer prices up 55.9% over the past 12 months, by 8.6% so far this year.

EURO TRADE PLANS

EU races to expand two-trillion-euro trade network as US links sour

11-04-2025 13:49 The European Union is racing to clinch trade deals with countries around the world in an effort to diversify away from an increasingly protectionist United States.

Brazil's President Luiz Inácio Lula da Silva gestures during a ceremony to announce investments in the defence industry at the Planalto Palace in Brasilia on February 12, 2025.

ECONOMIC INDICATORS

Brazil’s inflation hits two-year high amid rate hike debate

11-04-2025 11:26 Brazil’s annual inflation rate at its highest level in two years.

EU-MERCOSUR TRADE DEAL

Trump’s tariffs may speed EU–Mercosur deal, says Orsi

11-04-2025 10:09 Uruguay’s president sees US protectionism pushing Europe to compromise on stalled trade pact

GLOBAL TRADE WAR

Trump stuns with tariff backtrack

10-04-2025 19:26 US President Donald Trump upends global markets and trade by U-turning on proposed tariffs; Benefit for Argentina is only temporarily, unless new deal reached.

ENERGY & GAS

Vaca Muerta shale patch a sure thing even at $45 oil, YPF says

10-04-2025 18:16 Falling oil prices won’t derail Argentina’s burgeoning shale boom unless they plunge below US$45 a barrel, says chief executive of state-run YPF SA.

US Treasury Secretary Scott Bessent looks on as US President Donald Trump signs executive orders in the Oval Office of the White House on April 09, 2025 in Washington, DC.

US-ARGENTINA RELATIONS

US Treasury secretary offers 'full support' to Milei ahead of visit

10-04-2025 17:26 In a show of support for President Javier Milei's "bold economic reforms," US Treasury Secretary Scott Bessent will travel to Buenos Aires next week for meetings with government officials and business leaders.

The People’s Bank of China building in Beijing.

CURRENCY SWAP

Argentina renews part of China swap ahead of Bessent visit

10-04-2025 17:13 Argentina renews a portion of its US$18-billion currency swap line with China; Activated part being extended for another 12 months amounts to US$5 billion.

A banner calling for the strike remains taped to a window of a National Administration of Social Security (ANSES) office at Constitution train station during a 24-hour strike called by workers' unions against the economic policies of President Javier Milei in Buenos Aires on April 10, 2025. The 24-hour general strike started at midnight as President Javier Milei awaits news on a fresh IMF loan.

POLITICS & LABOUR

Government brushes off general strike as workers walk off job

10-04-2025 15:27 Public-sector workers fail to turn up, complying with CGT-led call for third strike of Milei Presidency; Many shops remained open and public transport still an option with buses running nationwide;

Argentina's President Javier Milei, Uruguay's President Luis Lacalle Pou, European Commission President Ursula von der Leyen, Brazil's President Luiz Inácio Lula da Silva and Paraguay's President Santiago Peña pose for the family picture of the LXV Mercosur Summit in Montevideo on December 6, 2024.

EU-MERCOSUR TRADE DEAL

EU offers timeline for final Mercosur deal proposal

10-04-2025 14:28 Top EU spokesperson says he wants to present a proposal for sweeping free-trade agreement before “end of summer,” with legal review ongoing.

President Javier Milei and Chinese Premier Xi Jinping.

ECONOMY – ANALYSIS

IMF deal fine print could disrupt China swap renewal

10-04-2025 05:36 In June, the grace period China granted Javier Milei expires. Washington is already pressuring Buenos Aires over the currency swap, with US$6.5 billion remaining frozen.

by Eugenia Muzio

Paraguay's President Santiago Peña and Argentina's President Javier Milei hug during a joint press conference following a meeting at the Palacio de Lopez government palace in Asunción on April 9, 2025.

Foreign policy & diplomacy

Milei hails shared values during talks with Paraguay’s Peña

09-04-2025 21:32 President met up with his Paraguayan counterpart, holding various meetings in Asunción during brief overseas trip.

BLOOMBERG - ANALYSIS

Milei needs rush of soy dollars to calm peso sell-off in Argentina

09-04-2025 17:42 Like his predecessors, President Javier Milei is depending on the soy harvest to manage one of the word’s most volatile currencies.

General view during the IX Latin American and Caribbean States (CELAC) Summit, at the Central Bank of Honduras (BCH) in Tegucigalpa on April 9, 2025. A dozen Latin American and Caribbean presidents, including those of Brazil, Colombia, and Mexico, will meet during the 33-nation CELAC summit, in the midst of US President Donald Trump's trade war.

TRUMP'S TARIFF WAR

Strength in numbers: Latin America urges unity in face of Trump tariffs

09-04-2025 17:38 Latin American leaders at CELAC summit in Honduras call for a united front to tackle US President Donald Trump's tariff onslaught.

President JAvier Milei and Mercado Libre founder Marcos Galperin.

BUSINESS & INVESTMENT

Mercado Libre to invest US$2.6 billion in Argentina this year

09-04-2025 17:31 US$2.6-billion investment marks a 53% increase on last year’s figure and forms part of a wider regional expansion drive.

U.S. President Donald Trump speaks during the National Republican Congressional Committee (NRCC) dinner at the National Building Museum on April 08, 2025 in Washington, DC.

GLOBAL TRADE WAR

Trump pauses tariffs for 90 days but hits China harder

09-04-2025 17:00 In the midst of Donald Trump's rising tariffs he has called for quite a radical shift within his global trade war, which will affect many countries.

This aerial view shows a protest of pensioners and union members against the government of Argentina's President Javier Milei in front of the National Congress in Buenos Aires on April 9, 2025.

POLITICS & LABOUR

Milei faces third general strike in Argentina with IMF deal pending

09-04-2025 16:30 Argentina braces for general strike as Milei administration awaits confirmation of new IMF loan programme.

TRADE TALKS

Argentina in talks with US to cut tariffs, says Trump official

09-04-2025 11:40 US Trade Representative Jamieson Greer says Argentina and others may ease trade restrictions to align with Trump’s policy.

Javier Milei, Argentina’s president, on February 22, 2025.

NEW IMF PROGRAMME

Milei nears US$20-billion Argentina loan as IMF staff sign off

09-04-2025 08:49 Members of the Washington-based lender’s executive board are expected to vote on the agreement Friday.

President Javier Milei with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva.

NEW IMF PROGRAMME

IMF confirms preliminary agreement with Argentina for US$20-billion loan

09-04-2025 08:33 Multilateral lender says it has reached a staff-level agreement with President Milei's government on a new 48-month US$20-billion programme, subject to approval by executive board.

Session in the lower house Chamber of Deputies.

POLITICS & CONGRESS

Lower house approves probe into Milei-$LIBRA crypto scandal

08-04-2025 19:30 Lawmakers vote to summon key ministers as fallout grows over so-called ‘Cryptogate’ scandal.

Foreign policy & diplomacy

Uruguay's Orsi calls for Latin American unity in face of economic uncertainty

08-04-2025 17:23 Uruguay's left-wing President Yamandú Orsi calls for regional integration in the face of economic uncertainty from the United States.

Javier Milei speaks in National Harbor, Maryland on February 22, 2025.

GEOPOLITICAL ROW

Milei caught in Trump-China spat over US$18-billion FX swap line

08-04-2025 16:47 Javier Milei is caught between US President Donald Trump and China’s communist government.

WORLD ECONOMY

Trump's trade representative says tariffs 'bearing fruit'

08-04-2025 12:33 Top US trade official Jamieson Greer says several countries – including Argentina, Vietnam and Israel – have offered to reduce sweeping tariffs imposed by US President Donald Trump.

Cristina Fernandez de Kirchner’s supporters rally near the former Public Works Ministry in Buenos Aires, which displays a façade featuring a huge image of Eva Perón.

BLOOMBERG - FEATURE

Milei tries erasing Argentina’s history to lure foreign investment

08-04-2025 09:04 Argentina’s president is desperate to woo foreign investors. But he's had more success tearing down physical symbols of the old guard than untangling the web of red tape it left behind.

White House Press Secretary Karoline Leavitt listens as US President Donald Trump speaks to reporters while in flight on Air Force One, en route to Joint Base Andrews on April 6, 2025.

'BLACK MONDAY'

Market panic deepens as Trump stands firm over tariffs

07-04-2025 09:45 Global stock market rout deepened on Monday and fears of recession rose after China retaliated against US President Donald Trump's tariffs and Europe calibrated its response.

Editorial

A double date

05-04-2025 06:36 Milei has yet to realise (or admit, if he does realise) that Trump is taking the United States into precisely the same direction from which he himself is struggling to pull out Argentina.

Julio Glinternick Bitelli, Brazil's Ambassador to Argentina.

Interview

Brazilian ambassador: Lula-Milei differences have 'minimal effect on bilateral relations’

05-04-2025 06:34 Brazil’s Ambassador to Argentina on managing bilateral relations, despite the enmity between Javier Milei and Luiz Inácio Lula da Silva. Julio Bitelli on Jair Bolsonaro’s trial, the Malvinas issue, the flirtation between Argentina and the United States, the trade imbalance and the importance of Vaca Muerta.

by Cecilia Degl'Innocenti

Analysing Argentina

Can Cristina Fernández de Kirchner be the next Donald Trump?

05-04-2025 06:13 It is difficult to imagine a Fernández de Kirchner comeback à la Trump. Or rather, her comeback has already happened, no matter how much she denies it

by Marcelo J. García

POLITICS & ECONOMY – ANALYSIS

Milei: a tourist in Mar-a-Lago

05-04-2025 06:10 As Donald Trump rattles up the world with his tariffs, things are heating up domestically for President Javier Milei.

by Agustino Fontevecchia

A broker looks at a screen at the Buenos Aires Stock Exchange in the financial district of Buenos Aires.

MARKETS

Argentina stocks in freefall over Trump tariffs

04-04-2025 20:22 Argentine stocks took a battering Friday, falling more than 7% in response to US President Donald Trump's reciprocal tariffs list

Argentina wants a large portion of its new US$20-billion programme with the International Monetary Fund to be paid out immediately.

IMF PROGRAMME

IMF met again on Argentina as upfront payment proves contentious

04-04-2025 19:30 There is still no consensus among board members on the size of the upfront payment to Argentina, according to reports.

the week in review

Stories that caught our eye: March 29 to April 3

04-04-2025 17:00 A selection of stories that caught our eye over the last seven days in Argentina.

Javier Milei receives the Lion of Liberty award.

MILEI IN AMERICA

Milei says he will change Argentina’s laws to mitigate Trump's tariffs

04-04-2025 13:19 Argentina's President Javier Milei says he will not retaliate against US President Donald Trump's "reciprocal tariffs" and will ensure his nation's exports meet requirements.

President Javier Milei and US President Donald Trump.

MILEI IN AMERICA

Casa Rosada: ‘Technical issues’ meant no Milei-Trump photo

04-04-2025 13:06 Argentina’s government confirms President Javier Milei was unable to meet US President Donald Trump Thursday; Republican leader was unable to reach Mar-a-Lago due to a fault in his helicopter, which delayed his schedule, says Casa Rosada.

Foreign relations & diplomacy

Milei looks for IMF support, trade deal from Trump

03-04-2025 19:27 President in Florida to receive award; Milei seeking crucial backing from United States for new IMF programme, days after 10% tariffs are introduced.

Protesters and members of the General Confederation of Labour (CGT) union during an anti-government demonstration in Buenos Aires on Wednesday, December 27, 2023.

POLITICS & LABOUR

CGT confirms 36-hour strike, starting next Wednesday

03-04-2025 15:58 Confederación General del Trabajo (CGT) umbrella union grouping, Argentina’s largest labour federation, confirms third general strike of President Javier Milei’s government will take begin April 9 and last 36 hours.

WORLD ECONOMY

Trump sparks trade war with huge tariffs; 10% for Argentina

03-04-2025 01:01 Argentina, Brazil and most other countries in the region to face 10% reciprocal tariffs; US president’s trade tariffs likely to kick off global trade war, but Milei will seek exception.

Presssure on Javier Milei after president is accusing of pushing scam crypto token.

In focus: Cryptocurrencies

Political support leading to increasing fall-out for crypto

03-04-2025 00:42 Experts say recent support from Donald Trump and Javier Milei for memecoin cryptocurrencies has led to losses of several billion dollars for investors, weakening a sector still is seeking legitimacy.

Donald Trump shows off his trade tariffs board in the White House rose garden.

TRADE WARS

Trump tariffs everyone, with rate on China set to soar above 50%

03-04-2025 00:24 US President Donald Trump announces steepest US tariffs in a century, unnerving investors who see a trade war ahead.

President Javier Milei welcomes the head of the World Bank, Ajay Banga, to the Casa Rosada.

MULTILATERAL FUNDING

World Bank promises ‘significant support’ for Milei's Argentina

02-04-2025 17:33 "Significant support" promised by Ajay Banga, head of the World Bank, as he meets with President Javier Milei at the Casa Rosada.

Gabriel Boric, Chile's president, speaks during the United Nations General Assembly (UNGA) in New York, United States, on Tuesday, September 24, 2024.

TRADE WARS

Trump attempting to be an ‘emperor,’ says Chile's Boric

02-04-2025 15:19 Chilean President says that at Trump’s inauguration, billionaires and tech gurus were “paying homage to someone who seems to pretend to be a new emperor.”

Javier Milei, Argentina's president, during an interview at Bloomberg House during the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, January 22, 2025.

Foreign relations & diplomacy

Milei to 'surely' meet Trump on US trip, says Werthein

02-04-2025 09:03 The two leaders will receive awards for their "conservative values" during a ceremony at Trump's Mar-a-Lago resort in Florida.

Javier Milei speaks to Donald Trump in Palm Beach, Florida on Nov. 14

MILEI TO AMERICA

Milei heads to Trump’s home base with IMF feal near finish line

02-04-2025 08:52 President Javier Milei will reportedly travel to Florida on Wednesday for talks with President Donald Trump at Mar-a-Lago.

Aerial view of Siderurgica Huachipato, in Talcahuano, Bío Bío region, taken on September 11, 2024. Chile's largest steel plant shut down last year, yielding to cheaper production in China.

TRADE WARS

Trump tariffs threaten Latin American steel industry

01-04-2025 15:18 US president’s new tariffs, designed to protect American consumers, will put Latin America's steel industry on the ropes