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.
ECONOMIC OUTLOOK ‘No alternative’ to austerity in Argentina, says top World Bank official 10-04-2024 17:59 Economist William Maloney comes out in support of Milei’s government’s reform plans; World Bank says Argentina's economy will decline 2.8% in 2024.
BLOOMBERG INTERVIEW Milei sees long slog ahead to bring Argentina reforms he pledged 05-04-2024 11:14 While Milei made shutting down the Central Bank and dollarising the economy centrepieces of his political campaign, he acknowledges plans are going to take a lot longer than he expected.
POLITICS & ECONOMY Milei to cut 70,000 state jobs, boasting of chainsaw austerity 26-03-2024 22:29 President plans to fire 70,000 government workers in the coming months, he confirms in speech to IEFA Latam Forum in Buenos Aires.
WAR IN MIDDLE EAST UN Security Council demands 'immediate' ceasefire in Gaza 25-03-2024 11:54 UN Security Council demands 'immediate' Gaza ceasefire for first time; Only United States abstains, 14 other members vote in favour.
ANALYSIS Monthly inflation slows to 13% as Milei’s cuts bite 12-03-2024 16:45 Inflation in February slowed for a second consecutive time as the impact of December’s large peso devaluation fades and President Javier Milei’s austerity measures push the economy into recession.
Options for peso bonds Argentina hinders debt swap by not offering puts on peso bonds 12-03-2024 12:23 Central Bank isn’t offering put options for peso bonds the government is selling this week in a record debt swap.
MONETARY POLICY Central Bank cuts rates to 80% in surprise move as inflation cools 12-03-2024 09:43 Central Bank unexpectedly cuts banchmark interest rate as policy-makers forecast cooling of inflation.
ECONOMIC OUTLOOK Analysts improve outlook, forecast inflation slowing to 210% in 2024 08-03-2024 10:48 Experts consulted for Central Bank’s REM survey of market expectations lower forecasts for inflation in the next few months, predicting 15.5% rate for February and a 3.5% economic slump this year.
ECONOMIC INDICATORS Argentines put US$2.3 billion into banks, signalling faith in Milei 06-03-2024 11:37 If the trend continues, it would be good news for Argentina’s Central Bank, where a portion of savers’ dollar deposits count toward the foreign reserves needed to stabilise the peso.
Argentina peso bond Argentina peso bond puts balloon, spurring inflation risk 05-03-2024 14:16 Puts on Argentina’s peso debt issued by the Central Bank have surged under Javier Milei’s government, reaching a record and prompting officials to scale back their use amid growing investor concern.
ANALYSIS Milei’s ‘maquinita’ – How many pesos is Central Bank printing? 22-02-2024 15:31 Since Javier Milei entered the Casa Rosada as president, Argentina’s monetary authorities have continued minting the national currency – while altering its destination. Why is there talk of the "benign" printing of money? by Martín Fernández Nadale
ECONOMIC INDICATORS Brazil’s economic activity caps 2023 with better-than expected growth 19-02-2024 14:05 Brazil’s economy grew more than expected in December, indicating activity is still showing some resilience to high interest rates as President Luiz Inacio Lula da Silva readies higher government spending.
Bloomberg Goldman, Barclays, Citi get up-close look at Milei’s Argentina 09-02-2024 00:08 Some of Wall Street’s largest banks are set to visit Argentina just as Javier Milei tries to come back from a massive defeat in Congress.
BONDS & MARKETS Argentina’s importers buy bonds in turnaround for Milei 12-01-2024 09:52 Argentina importers snapped up bonds aimed at helping them pay down debts owed to suppliers abroad in a win for the government.
PRESIDENT SPEAKS Milei vows to shutter Central Bank ‘sooner or later’ 11-01-2024 15:16 President Javier Milei vows Argentina's Central Bank will be shut down "sooner rather than later" and that dollarisation isn't off the table.
IMF DEBT PROGRAMME Caputo brokers deal with the IMF he once battled 11-01-2024 09:27 Luis Caputo is back for a second act, and the IMF that forced his exit during those 2018 talks is cheering his initial efforts to salvage an economy that plunged further into crisis.
ECONOMIC OUTLOOK World Bank forecasts 2.7% growth for Argentina in 2024 09-01-2024 16:46 Argentina’s economy likely contracted 2.5% last year, but will record growth of 2.7% in the coming 12 months, forecasts World Bank, which warns of “economic uncertainty” and continuing inflation.
Bopreal securities sale Argentina’s first ‘reconstruction’ bond sale to importers flops 29-12-2023 21:35 Central Bank’s first auction to pay down importers’ debts owed to suppliers abroad flopped Thursday as the monetary authority only sold a fraction of the total it had offered.
PRICES THROUGH THE CEILING Inflation accelerates: 30% expected in December after devaluation 21-12-2023 07:39 Analysts warns of major mark-ups triggered by the economic measures of the Javier Milei government.
MONETARY POLICY Argentina pulls off record sale of peso debt amid Milei rework 20-12-2023 22:08 New government stages largest-ever auction of local-currency notes.
MONETARY POLICY Central Bank cuts key rate to 100% by swapping main policy tool 19-12-2023 08:25 Central Bank changes benchmark tool for monetary policy, replacing four-week notes with one-day transactions in a bid to lower borrowing costs.
DOLLARISATION ON THE CARDS? Argentina still plans to dollarise, Milei’s economy chief says 15-12-2023 09:13 “The objective remains the same — to get to dollarisation,” declares Economy Minister Luis Caputo.
BLOOMBERG – ANALYSIS ‘There is no money’: Argentina begins economic shock remedy 13-12-2023 11:41 Measures include 54% peso devaluation, additional 2% a month; Plan seen as step in the right direction, perhaps insufficient by traders.
NEW GOVERNMENT Argentina restricts dollar access until Milei unveils policies 11-12-2023 13:59 Argentina’s Central Bank restricts access to dollars at the official exchange rate until President Javier Milei’s administration announces the first measures of a promised shock-therapy programme.
Presidential handover Argentina stops banks from hoarding dollars ahead of devaluation 07-12-2023 13:34 Central Bank limits amount of foreign currency the nation’s commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by president-elect Javier Milei.
POLITICS Who is Santiago Bausili, the new head of the Central Bank? 06-12-2023 15:48 Finance secretary in the Mauricio Macri 2015-2019 administration, Santiago Bausili is a close friend of Luis 'Toto' Caputo. Hours before he was confirmed as the next governor of Argentina's Central Bank, the courts dropped charges against him.
NEW GOVERNMENT Milei picks Santiago Bausili to lead Central Bank 06-12-2023 08:03 Argentina’s president-elect Javier Milei picks Santiago Bausili, an ally of incoming economy minister Luis Caputo, to lead the nation’s Central Bank.
ECONOMIC POLICY Dollarisation is medium-term goal, Luis Caputo tells bankers 24-11-2023 22:06 Luis Caputo, who is leading Javier Milei’s economic team during the transition, tells banking executives in Buenos Aires that currency controls won't be lifted immediately and that dollarisation is a medium-term goal.
TRANSITION OF POWER Argentine banks flee to one-day notes amid government transition 24-11-2023 14:34 Banks are fleeing to short-term notes for even more liquid securities as President-Elect Javier Milei’s vague comments on the debt have stoked concern over how he’ll handle the assets.
POLITICS & ECONOMY Wall Street cheers as Milei swaps dollarisation for Macri brass 24-11-2023 13:07 Javier Milei pivots away from advisers advocating for his most dramatic campaign promises, choosing Wall Street veterans closer to Mauricio Macri.
BLOOMBERG - ANALYSIS Milei opens a new era: What comes next in Argentina policy-making 20-11-2023 09:25 Milei’s biggest political challenge will be his lack of support in Congress, where his party only counts a minority of senators and a fraction of lower house representatives.
ELECTION 2023: RUN-OFF Argentina takes leap into unknown with Javier Milei as president 19-11-2023 21:20 Attention will now turn to how Javier Milei implements his most contested measures with only a handful of representatives in a fragmented congress and an impatient electorate. He will take office December 10.
Election 2023 Argentina’s banks load up on liquidity before weekend’s election 15-11-2023 13:02 Local banks load up on the most liquid assets to ensure they could accommodate a potential surge in peso withdrawals ahead of run-off vote.
ELECTION 2023 Milei confirms dollarisation is a non-negotiable 'state policy' 02-11-2023 18:29 Presidential candidate for La Libertad Avanza says he won’t back down on two key policies – dollarisation and the elimination of the Central Bank – despite electoral pact with PRO leaders Mauricio Macri and Patricia Bullrich.
WAR IN MIDDLE EAST Argentina condemns Israeli attack on refugee camp in Gaza Strip 02-11-2023 12:14 Foreign Ministry says “nothing justifies the violation of international humanitarian law, and the obligation to protect the civilian population” in wake of attack on Jabalia refugee camp; Massa distances himself from government statement.
FUEL CRISIS? Argentines queue for fuel as FX shortage strands tankers at sea 26-10-2023 13:49 Growing lines at the pump and darkened gas stations at night are tangible signs of a fiscal crisis spiralling out of control.
FX MARKET Gov't depletes room to intervene in currency futures ahead of election 20-10-2023 16:47 Central Bank almost out of room to intervene in currency futures, the main avenue it’s been using to prop up the plunging peso.
BLOOMBERG – ANALYSIS Recession, inflation, devaluation: Economic troubles in 5 charts 19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.
HELP FROM BEIJING China lets Argentina tap extra US$6.5 billion from swap line 18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.
INTEREST RATES Central Bank hikes rate to 133% on inflation data 12-10-2023 23:39 Argentina’s Central Bank sharply raises key rate to 133%, sixth hike this year.
MONETARY POLICY Central Bank likely to hold rate despite inflation spike 09-10-2023 21:04 Argentina’s Central Bank board plans to keep its benchmark interest rate unchanged despite inflation data hovering around a three-decade high.
VIOLENCE IN MIDDLE EAST Jewish groups, supporters stage march in support of Israel 09-10-2023 21:00 According to Argentina's Foreign Ministry, at least seven Argentine citizens have been killed in Israel, with another 15 people reported missing.
MIDDLE EAST Israel imposes total siege on Gaza after Hamas attack 09-10-2023 11:41 Israeli Prime Minister Benjamin Netanyahu vowed Monday to "change the Middle East" in Israel's war with Palestinian militant group Hamas, as the army pounded the Gaza Strip with air strikes.
FOREIGN POLICY & DIPLOMACY Leaders in Argentina condemn attack on Israel, call for 'end of violence' 07-10-2023 12:51 Foreign Ministry in Buenos Aires deplores "armed attacks from the Gaza Strip against southern Israel" and calls for peace; Presidential candidates condemn violence and killing.
MIDDLE EAST Israel and Gaza at war after Hamas launches surprise attack 07-10-2023 12:45 Countries around the world have condemned a wave of Palestinian attacks on Israel by land, sea and air that have left at least 70 dead and hundreds wounded on Saturday.
ECONOMIC OUTLOOK World Bank sceptical over Milei’s dollarisation plans 05-10-2023 00:45 Argentina’s economy is set to contract 2.5% in 2023, according to the World Bank.
ECONOMIC OUTLOOK World Bank sees Latin America lagging rest of the world — again 04-10-2023 18:43 Latin America is once again on track to grow more slowly than the rest of the world, with the regional economy set to underperform those of South Asia and even war-battered Eastern Europe this year, according to a new World Bank report.
Public rebuke Central Bank technical move slammed as ‘attack’ by Mercado Pago 26-09-2023 11:23 Technical measure by Argentina’s Central Bank provokes rare public rebuke by fintech arm of MercadoLibre.
ELECTION 2023 Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite 20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.