CRYPTOCURRENCY Buenos Aires Province imposes sanction on Worldcoin Yesterday 17:42 Buenos Aires Province authorities have fined the company founded by Sam Altman, co-creator of ChatGPT. They aim at the lack of protection of sensitive biometric data.
CRYPTOCURRENCIES Argentina is a record cryptocurrency adopter 25-07-2024 07:06 The country is trending in cryptocurrency savings as residents look to find ways to protect sayings and face inflation. The risks and how you can protect against them. by Gustavo Winkler
Cryptocurrencies Venezuela crypto remittances skyrocket as migration crisis worsens 24-07-2024 21:11 Amount transmitted via crypto in Venezuela likely reached a record 9%of all the money sent home last year, according to data from blockchain analysis firm Chainalysis. by María Paula Mijares Torres, Bloomberg
INTELLIGENCE Government increases budget, allocating 100 billion pesos to spy agency 23-07-2024 16:22 President Javier Milei's government raises budget, justifying move with need to "settle actions" and "reorganise the National Intelligence System."
BEYOND THE HEADLINES Quasi-fiscal as Milei’s Quasimodo 23-07-2024 15:15 And those liabilities have come to infest the Central Bank via all those bonds issued over the years to shunt the Treasury’s fiscal deficit their way – the Lebacs, Letes, Lecaps, Leliqs, puts and all the rest of them. by Michael Soltys
POVERTY Exclusion and poverty are increasingly common in Argentina 22-07-2024 16:40 Argentina is suffering from rising unemployment, social exclusion and poverty – the number of those considered destitute has doubled since the first quarter of 2023.
POLITICS Caputo rejects criticism for having money abroad 22-07-2024 15:58 Argentina's economy minister pushes back on claim he asked people to sell their dollar savings in order to pay taxes.
POLITICS & ECONOMY Milei’s shock therapy ignites ‘brutal’ income inequality 20-07-2024 18:44 President Javier Milei’s economic overhaul is driving up income inequality in Argentina, testing just how much “shock therapy” his constituents can bear.
ENERGY & GAS YPF in talks with energy transfer to fund Argentina pipeline 20-07-2024 18:12 Argentine crude driller YPF SA has held talks with US pipeline company Energy Transfer LP to finance a cross-country pipeline that could ramp up shale oil exports.
ECONOMIC INDICATORS Argentina's economy posts best month under Milei despite cuts 20-07-2024 17:57 Economic activity rose 1.3% from April, the first month of growth since Milei’s term began in December.
MONETARY POLICY Argentina overcomes key hurdle impeding end of currency controls 20-07-2024 17:53 Central Bank buys back majority of put options from financial entities, bringing President Javier Milei one step closer to lifting currency controls.
POLITICS Buenos Aires City government seals revenue-sharing deal with Milei 19-07-2024 16:57 Buenos Aires City Mayor Jorge Macri says his administration has secured an agreement with President Javier Milei's government that will settle revenue-sharing row.
INSAURRALDE AFFAIR Model at heart of Insaurralde graft scandal seeks dismissal of charges 19-07-2024 16:16 The model, who joined ex-Buenos Aires Province Cabinet chief Martín Insaurralde on controversial trip to Marbella, testified that she is usually asked “to go on trips abroad” and mentioned the ILO regulation on prostitution.
INTERVIEW / PERIODISMO PURO Andrés ‘Cuervo’ Larroque ‘We are in one of the deepest crises in Peronism’s history’ 19-07-2024 06:17 Andrés Larroque, Community Development minister for Buenos Aires Province, reflects on the crisis facing Peronism, his links to La Cámpora and President Javier Milei’s government. by Jorge Fontevecchia
ECONOMIC INDICATORS Industry falls off cliff as activity slumps 14% year-on-year 17-07-2024 14:04 Report by UIA Argentine Industrial Union shows a year-to-year collapse of 14% in May. by Martín Fernández Nadale
POLITICS Milei focuses on legislative agenda, including Supreme Court Nominations 17-07-2024 12:54 Government preparing 'Ficha Limpia' (Clean Record) bill and another to lower age of criminal responsibility. by Ramón Indart
POVERTY IN THE CAPITAL Crisis creating 300 more homeless each month in Buenos Aires City 17-07-2024 06:57 The number of people sleeping rough in the nation’s capital is rising by 10% a month, according to Buenos Aires City Security Minister Waldo Wolff. by Ramón Indart
ENERGY & GAS Bolivia announces discovery of natural gas 'mega-field' 15-07-2024 18:34 Bolivia has discovered a massive natural gas field with reserves of 1.7 trillion cubic feet, its biggest discovery of the fuel since 2005.
EXCHANGE MARKETS Argentina parallel peso strengthens as Milei starts intervention 15-07-2024 17:10 Peso on pace for its biggest one-day gain in the parallel market since President Javier Milei took office.
STADIUM CHAOS Miami’s showcase for football's World Cup collapses into chaos 15-07-2024 14:57 The Copa América final between Argentina and Colombia was meant to be Miami’s dress rehearsal for the World Cup football tournament in the United States. Hours before kick off, it collapsed into chaos.
MONETARY POLICY Argentina to sell dollars in parallel FX market to shore up peso 14-07-2024 09:31 Central Bank will sell US dollars in the country’s parallel foreign exchange markets starting Monday, says Economy Minister Luis Caputo.
ANALYSING ARGENTINA What if Milei is wrong about the economy? 13-07-2024 07:50 Hard currency is the Achilles’ heel of the Milei programme, as it was for his predecessors in office. by Marcelo J. Garcia
BEYOND THE HEADLINES No economising economists 13-07-2024 07:44 The atomisation of economic thinking prevails far beyond the ministerial level in Argentina. by Michael Soltys
POLITICS – ANALYSIS Milei the preacher 13-07-2024 07:24 For now, President Milei retains his popularity, but it seems as if the model is beginning to run out of steam. by Agustino Fontevecchia
HUMAN RIGHTS Organisations head to courts to request clarity over gender policies 12-07-2024 16:33 Different organisations specialising in gender issues filed a claim in court requesting clarification about the closing of the former Women, Gender & Diversity Ministry. None of the government budget to assist relatives of victims of femicide, transfemicide and transvesticide was touched in the first four months of the year, claim NGOs. by Agustina Bordigoni
ANALYSIS Argentina inflation snaps Milei’s five-month slowdown streak 12-07-2024 16:30 Argentina recorded the first monthly pick-up in inflation of the year, marking a slight reversal of the downward streak President Javier Milei has put in motion.
ECONOMIC INDICATORS Inflation accelerated slightly to 4.6% in June, says INDEC 12-07-2024 16:23 Inflation rose slightly in June from previous month, by 0.4 points; Consumer prices rose 4.6% overall in June and have soared 271.5% in the last 12 months.
ENERGY & GAS Vista reaps more from crude sales as Argentina frees oil markets 12-07-2024 16:11 Shale driller Vista Energy charged export prices for more than 40% of crude that it sold to domestic refiners in the second quarter.
the week in review Stories that caught our eye: July 5 to 12 12-07-2024 14:11 A selection of the stories that caught our eye over the last seven days in Argentina.
POLITICS & ECONOMY Milei dials back shock therapy to keep Argentina’s inflation in check 12-07-2024 12:44 President Javier Milei is tapping the brakes on his shock therapy programme in a bid to hold on to popular support amid Argentina’s bleak economic reality.
BUSINESS & INVESTMENT Kaszek, Andreessen back Argentina fintech Tapi in US$22-million round 12-07-2024 12:26 Argentine financial technology startup Tapi raises US$22 million in venture funding in a Series A round.
IMF ON ARGENTINA IMF denies there is ‘specific timetable’ for new Argentina deal 11-07-2024 16:48 Julie Kozack, the Fund's communications director, contradicts claims by Economy Minister Luis Caputo that talks about new financing deal are underway and an agreement could be sealed this year.
INTERNATIONAL MONETARY FUND IMF backs negotiator who drew Milei’s ire in Argentina aid talks 11-07-2024 15:48 Managing Director Kristalina Georgieva "has full confidence" in top negotiator Rodrigo Valdés despite criticism from President Javeir Milei.
AIRLINES & AVIATION Government targets red tape in aviation deregulation drive 10-07-2024 17:48 Pilot union announces one-day strike as Argentina’s government announces big changes for airline industry; Reforms designed to “modernise” sector and eliminate red tape for aviation operators.
POLITICS & ECONOMY Milei talks unity but shows up division with ‘symbolic’ pact 09-07-2024 15:52 President Javier Milei hails “symbolic of a change in era” as he inks his ‘Pacto de Mayo’ with 18 regional leaders at midnight ceremony in Tucumán. But amid a patriotic show of unity, his tone and absences highlight division. by James Grainger
POLITICS & ECONOMY Milei signs pact with governors signalling aid during austerity 09-07-2024 14:16 Eighteen governors ink the 'Pacto de Mayo' with President Milei at a historic site in Tucumán Province in northern Argentina.
MERCOSUR SUMMIT Mercosur leaders slam Milei's absence from summit 09-07-2024 09:44 Luis Inácio Lula da Silva, Luis Lacalle Pou and Santiago Peña criticise Argentine leaders decision not to attend a Mercosur presidential summit.
MARKETS Argentina’s biggest foreign exchange, futures markets agree to merge 08-07-2024 16:46 Mercado Abierto Electronico and Matba-Rofex have reportedly agreed to merge into a single exchange, creating Argentina’s largest futures and foreign-exchange market.
BEEF CONSUMPTION Beef consumption in Argentina falls to lowest in a century 08-07-2024 16:32 Per capita consumption in 2024 forecast at around 44.8 kilos per capita, the lowest figure in more than a century.
MERCOSUR TENSIONS Lacalle Pou criticises Milei’s decision to skip Mercosur summit 08-07-2024 16:15 "The message is not the only important thing, the messenger is very important," declares Uruguayan President Luis Lacalle Pou in response to Javier Milei's Mercosur summit.
BEEF CONSUMPTION Milei’s shock therapy sends demand for beef to 110-year low 08-07-2024 14:41 Beef demand is forecast to drop below 45 kilos (99 pounds) a person this year, the lowest in data going back to 1914.
MERCOSUR SUMMIT Mondino tells Mercosur peers that bloc needs ‘adrenaline shock’ 08-07-2024 13:03 Argentina’s Foreign Minister tells her Mercosur counterparts that trade bloc needs an “adrenaline shock” to realise its “untapped potential” – yet President Javier Milei still won’t attend presidential summit.
PRESIDENT IN BRAZIL Milei backs Bolsonaro without attacking Lula in Brazil visit 08-07-2024 11:17 Javier Milei headlines conservative rally in southern Brazil alongside right-wing former president Jair Bolsonaro, the biggest gamble yet on his unorthodox foreign policy approach.
International Monetary Fund IMF to discuss options for lowering penalties on big borrowers 08-07-2024 11:09 IMF board set to weigh options to give nations a break on surcharges – a long-held request from Argentina, among other nations.
FOREIGN POLICY & DIPLOMACY Milei takes his far-right roadshow to Lula’s backyard in Brazil 07-07-2024 08:42 In a Latin America dominated by leftists, Argentina's libertarian leader Javier Milei is all alone.
POLITICS – ANALYSIS Milei under pressure for the first time 06-07-2024 05:59 If the doubts regarding Milei’s capacity to preside over Argentina were tied to governability risk, Caputo’s are connected to credibility risk: it’s difficult to see how the current policy framework can be sustainable in time. by Agustino Fontevecchia
POLITICS Milei lines up midnight ‘Pacto de Mayo’ signing 06-07-2024 05:38 Javier Milei’s next key moment, the signing of his ‘Pacto de 25 de Mayo,’ will take place in Tucumán at the strike of midnight on Independence Day. Guest list still up in the air, with Mauricio Macri expected to be the only former president in attendance.
Analysing Argentina Milei now needs to fly domestic 06-07-2024 05:31 Provincial governors are getting Milei’s message: that they are largely on their own now and need to adapt. by Marcelo J. Garcia
the week in review Stories that caught our eye: June 28 to July 5 05-07-2024 16:55 A selection of stories that caught our eye over the last seven days in Argentina.
POLITICS & ECONOMY Sturzenegger appointed ‘deregulation and state transformation’ minister 05-07-2024 15:51 Months after his appointment was first trailed, Federico Sturzenegger finally joins Milei administration as Deregulation & State Transformation minister; Ex-governor of Central Bank, who was sworn into office on Friday, has had a key role behind the scenes up until now, drafting bills and decrees.
CABINET APPOINTMENT Milei taps former Central Bank chief to deregulate Argentina 05-07-2024 13:43 Federico Sturzenegger will lead a new Deregulation & State Transformation Ministry in President Javier Milei's government.
MERCOSUR TENSIONS Milei chooses bath of conservative affection and rebuffs Mercosur 05-07-2024 11:33 President prefers a safe conservative conference in Brazil to a trip to Asunción for the Mercosur summit and a meeting with Lula.
POVERTY Quilmes university makes 'super soup' to highlight need for food aid 04-07-2024 17:43 President Javier Milei's government is again being criticised for withholding food from soup kitchens.
ECONOMIC INDICATORS Social indicators cast doubt over Milei's 'catastrophe' averted claim 04-07-2024 13:09 President Javier Milei recently stated that the government’s social policy is “extremely good” and it had help prevent a “catastrophe.” Yet the government's own data and reports produced by private institutions indicate most social indicators have recorded a step backwards since he took office. by Agustina Bordigoni
Foreign relations & diplomacy Brazil 'regrets' Milei's absence at upcoming Mercosur summit 04-07-2024 00:12 Senior Brazilian diplomat says her nation "regrets" President Javier Milei’s decision not to attend the upcoming Mercosur summit in Asunción.
LITHIUM IN LATIN AMERICA New lithium plant inaugurated in Salta Province 03-07-2024 22:41 French mining group Eramet and its Chinese partner Tsingshan inaugurate new lithium exploitation plant, an investment worth US$870 million.
POLITICS & CONGRESS – ANALYSIS After triumph in Congress, Milei faces challenge of governing 03-07-2024 15:49 Following approval of his ‘Ley de Bases’ reform push, experts say President Javier Milei is now entering a new phase in which the population will demand results.
UNREST IN BOLIVIA Growing discontent amid dollar, fuel shortages in resource-rich Bolivia 03-07-2024 10:58 Along with the fuel shortage in Bolivia, which tends to be chronic due to economic problems in imports, there is also a lack of dollars in the country and, consequently, an increase in the exchange rate in the parallel market.
CURRENCY IMPROVISATION La Rioja Province puts its own ‘quasi-currency’ in circulation 02-07-2024 16:01 New ‘chachos’ enter into circulation, currency honours local caudillo; Provincial Governor Ricardo Quintela announced the plan back in January, which won approval from local legislature a month later.
AGRICULTURE & ECONOMY Argentina poised for first China corn cargoes in 15 years 02-07-2024 15:50 Argentina is preparing corn shipments to China that will be the first in 15 years, the latest move by the two countries to expand agricultural trade.
MARKETS President Milei proves boon and curse for Argentine bank stocks 02-07-2024 11:30 Argentine banking stocks in New York are tumbling as the government slashes interest rates and crimps new borrowing.
STATE MEDIA Télam state news agency now 'advertising and state propaganda agency' 01-07-2024 16:08 Argentina's government has officially closed the Télam state news agency, transforming it into a state advertising and "propaganda" outlet.
ECONOMY & POLITICS Argentina officials move to shore up bank support for debt plan 01-07-2024 15:35 Economy Minister Luis Caputo and Central Bank Governor Santiago Bausili sought to shore up support Monday in a meeting with executives from private banks for a monetary policy pivot announced late Friday.
FOREIGN POLICY & DIPLOMACY Milei shuns Mercosur summit and awkward meet with Lula 01-07-2024 15:00 Argentina’s President Javier Milei pulls out of upcoming Mercosur summit in Asunción and potentially awkward meeting with Brazilian counterpart Luiz Inácio Lula da Silva.
ECONOMIC POLICY Milei says he would slow crawling peg if inflation cools further 01-07-2024 12:10 President Javier Milei says peso could weaken at a slower pace if inflation cools to a certain level.
Lithium in Argentina Argentina is about to unleash a wave of lithium in a global glut 30-06-2024 09:06 Four new projects will finally begin to churn out lithium in the weeks and months ahead. That will almost double production capacity in Argentina, whose growth potential has long lured the attention of battery makers around the world.
MONETARY POLICY Milei shifts policy in second phase of Argentina plan 29-06-2024 15:30 Milei administration embarks on second phase of economic plan, announcing it will swap out notes held at the Central Bank for new Treasury debt.
ECONOMIC INDICATORS Economy extended downturn in April amid Milei’s cuts 29-06-2024 13:09 Economy slumped slightly in April, marking four of the last five months in decline since President Javier Milei took office.
Beyond the headlines Work in regress? 29-06-2024 04:27 How can having a job continue to be synonymous with making a living if there are around seven times as many people below the poverty line as jobless? by Michael Soltys
JUSTICE SYSTEM & PRISONS Milei slashes budget for legal centres in favour of prison spending 29-06-2024 04:25 Argentina’s Justice Ministry announces closure of 81 Centres of Access to Justice nationwide; Milei government boosts budget for the ‘Criminal Policy’ programme by 963% in move to “modernise Penitentiary Service” and “improve the situation of persons deprived of liberty." by Agustina Bordigoni