THE WEEK IN REVIEW Stories that caught our eye: April 19 to 26 Yesterday 20:21 A selection of stories that caught our eye over the last seven days in Argentina.
Foreign relations & diplomacy Top officials to meet People's Bank of China chief amid swap talks Yesterday 17:20 Argentina’s Central Bank Governor Santiago Bausili and Finance Secretary Pablo Quirno are scheduled to meet with People’s Bank of China Governor Pan Gongsheng in Beijing on Monday.
CURRENCY CONTROLS Argentina to offer bonds in first step to lift currency controls Yesterday 13:33 President Javier Milei's government readying a new instrument to allow companies to send dividends abroad, a first step to lift a cobweb of restrictions in its foreign-exchange market.
POLITICS Omnibus bill heads to Congress, debate set for Monday or Tuesday 25-04-2024 16:35 After a day when at times it seems everything was falling apart, ultimately amendments made everyone happy. With the support of PRO and a sector of the Radicals and Hacemos Coalición Federal, La Libertad Avanza obtained 61 signatures.
CULTURE Netflix is betting big on Latin America to expand its viewership 25-04-2024 16:15 Netflix attracts viewers from all over the world, but its biggest untapped audiences lie outside the United States.
FOOTBALL Bye bye TV Pública: Telefe to broadcast Albiceleste's matches in Argentina 25-04-2024 15:18 Argentina's state television network will no longer be in charge of broadcasting national football team matches.
BLOOMBERG – ANALYSIS Milei sparks wild rally that makes peso number one in the world 25-04-2024 15:17 Four months into office, President Javier Milei has pulled off a critical feat in a country long ravaged by runaway inflation: stabilising Argentina's currency.
INTEREST RATES CUT Central Bank lowers key rate to 60% 25-04-2024 15:07 Policymakers at Argentina’s Central Bank lower interest rates to 60% from 70% as officials bet on a sustained slowdown of inflation.
AVIATION REFUELLING ROW Argentine firms refuse to refuel Cuban state airline’s planes 25-04-2024 11:33 Cuba’s state airline announced Wednesday that it had been forced to cancel two flights to Argentina because fuel suppliers refused to supply the planes.
Marcha federal universitaria Milei on education march: ‘Using a noble cause to defend caste interests’ 24-04-2024 17:44 Milei used social media to unload on critics and dismisses universities march, accusing "the caste" of using a “noble cause” like education to “defend their caste interests.”
PRODUCTION & INDUSTRY Industry on the ropes: Tough times for factories as consumers cut back 24-04-2024 17:24 Factories are on the ropes between adjustment and recession in Argentina. Representatives of small- and medium-sized enterprises (SMEs, or PyMES) warn drop in consumption is threatening the future of industry.
POLITICS – ANALYSIS Middle class puts first limit on Milei’s chainsaw 24-04-2024 16:03 President Javier Milei underestimated the march in defence of public education, which proved to be massive and exemplary. Dominated by the very same people who are feeling his adjustment the most, he had better listen. by Walter Curia
EU-MERCOSUR DEAL Mercosur deal is ‘absolute priority’ for the EU, says chief negotiator 24-04-2024 15:36 Rupert Schlegelmilch, the EU’s chief negotiator for a free-trade deal with Mercosur bloc, says he is hoping to close this deal “as soon as possible,” pinpointing “June or July” as a possible date.
BOOK FAIR Book Fair: Cultural resistance set to capitalise on unrest 24-04-2024 13:31 At a time of deep economic crisis, the annual Feria Internacional del Libro de Buenos Aires promises to be a space for reflection and debate. A look at the activities, visits and Javier Milei’s upcoming presentation. by Adriana Lorusso
ECONOMIC OUTLOOK Milei’s team sees inflation slowing faster than economist survey 24-04-2024 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 23-04-2024 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.
FOREIGN POLICY & DIPLOMACY Diana Mondino heads to China, Europe on investment quest 23-04-2024 20:52 Argentina’s foreign minister will set off on Sunday for a 10-day tour of China, France, Belgium and Portugal, accompanied by a “large business delegation.”
ECONOMIC INDICATORS Economy slumped for fourth straight month in February 23-04-2024 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.
EDUCATION & ECONOMY Universities defy Milei’s spending cuts with massive march 23-04-2024 15:16 At cities nationwide, students, graduates, faculty and auxiliary staff from 57 national state-run institutions take to the streets “in defence of public and free university.”
BUDGET The spending cuts that allowed Milei to turn around the economy 23-04-2024 13:47 How did the government reach a budget surplus in the first quarter? A private study provides answers.
HUMAN RIGHTS Government blocks reparation payments to victims of state terrorism 23-04-2024 12:11 Justice Minister Mariano Cúneo Libarona slams “festival of payments” as he orders a comprehensive audit of reparations made to victims of state terrorism under 1976-1983 military dictatorship.
CADENA NACIONAL BROADCAST Milei trumpets quarterly budget surplus in TV address 23-04-2024 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.
POLITICS & ECONOMY How Milei and Caputo achieved Argentina's twin surpluses 22-04-2024 15:34 ‘Chainsaw’ and ‘blender’ plans pay off for Milei in much-improved fiscal figures for first quarter, as Argentina his government reporting a primary surplus and positive trade balance.
SPENDING CUTS By order of Milei, INCAA shuts doors, puts staff on leave 22-04-2024 15:06 President Javier Milei's government announces INCAA National Institute of Cinema and Audiovisual Arts will close doors temporarily ahead of international reorganisation; All employees told services are "no longer required" until new structure is in place.
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.
CULTURE Like a bad movie: Argentina's culture industry suffers under Milei 20-04-2024 07:39 President Javier Milei's 'chainsaw' cutbacks are threatening Argentina's Oscar-winning film scene, publishing industry and music industry.
Analysing Argentina Is Milei feeling the fear? 20-04-2024 06:45 Milei’s government needs to pass legislation, something it has not been able to do in its first four-and-a-half months in office. Congressional approval would be an indication to Argentines and foreign observers alike that he means business. by Marcelo J. Garcia
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.
THE WEEK IN REVIEW Stories that caught our eye: April 12 to 19 19-04-2024 17:59 A selection of stories that caught our eye over the last seven days in Argentina.
CINEMA Cecilia Roth denounces 'dismantling' of cultural industry 19-04-2024 16:51 Argentine actress Cecilia Roth has denounced the dismantling of Argentina’s cultural industry, pointing the finger firmly at the economic policies of President Javier Milei.
EDUCATION Universities deny claims of funding deal, confirm April 23 strike 19-04-2024 16:18 CIN National Inter-University Council denies government's claim that funding deal has been reached and renews call for April 23 protest.“It’s vital to make the situation we’re going through visible,” they stated.
‘Círculo rojo’ Milei slams predecessors in speech to top business leaders 19-04-2024 15:28 Javier Milei makes annual trip to Bariloche for forum held at Llao Llao Hotel; La Libertad Avanza leader given warm welcome as he complains about “inheritance” from ex-president Alberto Fernández's government.
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.
ECONOMIC OUTLOOK Government dreams of a single digit as inflation begins to slow 18-04-2024 15:29 Price hikes slowed in the first half of April, according to analysts, with officials in President Javier Milei's government daring to dream of a single-digit inflation rate for the month. by Martín Fernández Nadale
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.
FOREIGN POLICY & DIPLOMACY Milei requests meeting with Lula to discuss 'joint policies' 18-04-2024 12:38 Bending to reality, Argentina’s President finally proposes an encounter with his Brazilian counterpart after trashing him on the campaign trail last year; Foreign Minister Mondino delivers a formal invite to her colleague Mauro Vieira in Brasília.
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.
FOREIGN POLICY & ECONOMY Mondino: Mercosur must open up to ‘agreements with other countries’ 17-04-2024 17:16 Argentina's Foreign Minister Diana Mondino calls for modernisation of Mercosur rules and backs push for free-trade deal with China.
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
CHILD POVERTY An X-ray of child labour in Argentina 17-04-2024 11:56 Neatly 15% of those aged between 5 and 17 are affected by child labour in Argentina, with huge disparities when it comes to socio-economic level, gender and location. by Agustina Bordigoni
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.
PRESIDENTIAL U-TURN Milei will no longer fly commercial for security reasons, says spokesperson 16-04-2024 17:22 Javier Milei reverses previous decision to travel by commercial airliner on foreign trips abroad; Decision follows recommendation by Security Minister Patricia Bullrich, who has asked that President’s protection be stepped up.
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.
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
Analysing Argentina Why Javier Milei needs to be a bit like Néstor Kirchner 13-04-2024 05:40 Even though he may hate the sound of it, the lessons of the Kirchner dynasty – whose political fadeout is largely responsible for Milei’s meteoric rise to power – could help the President. by Marcelo J. Garcia
CULTURE WARS The perfect enemy for Javier Milei 13-04-2024 05:28 The president, his inner circle, and the Cabinet have become extremely selective regarding the outlets and journalists they speak to, with Milei only giving interviews to friendly reporters who lob softballs at him. by Agustino Fontevecchia
THE WEEK IN REVIEW Stories that caught our eye: April 5 to 12 12-04-2024 22:07 A selection of the stories that caught our eye over the last seven days in Argentina.
MEDIA Pressure on the press: from Videla to Milei 12-04-2024 17:20 Attacks by Javier Milei on the press in general, and at 'Noticias' and 'Perfil' in particular, are nothing new. Argentina’s President is using old methods to silence critics. by Gustavo González
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.