News of capital

IMF: ‘Constructive discussions’ ongoing with Argentina over new deal

06-02-2025 22:59 Markets move on rumours of new deal with the International Monetary Fund, which again praises “enormous progress” made by Milei administration.

‘CEPO’ NO MORE?

President sets 2026 target for removal of currency controls

04-02-2025 15:47 La Libertad Avanza leader says his government will remove capital controls by start of 2026 – unless the IMF grants Argentina fresh funds beforehand.

MONETARY POLICY

Argentina weighs managed exchange rate once it lifts currency controls

16-12-2024 19:44 President Javier Milei's government is weighing whether to introduce a managed exchange rate regime — a “dirty float” — once it lifts its current foreign exchange controls in 2025.

President's address

Milei vows to axe capital controls and negotiate Trump trade deal

11-12-2024 09:50 President Javier Milei promises to lift capital and currency controls next year and negotiate a free-trade agreement with the United States once Donald Trump takes office.

MILEI'S FIRST YEAR

Milei promises inflation will be a 'bad memory' in first anniversary speech

10-12-2024 23:45 President touts US trade deal with Trump, vows to remove currency controls and says “happy times” lie ahead in national broadcast marking first year in office.

CAPITAL CONTROLS

Trump adviser Laffer tells Argentina ‘get it done now’ on capital controls

03-12-2024 15:19 Arthur Laffer has a word of advice for Argentina: Scrap capital controls now.

Investing in Argentina

Milei touts US$50 billion from investors eyeing 30-year loopholes

02-12-2024 13:04 Argentina has abundant natural resources and legions of well-educated workers. But it struggles to attract investors because its politicians have a habit of changing the rules on a whim.

BLOOMBERG - ANALYSIS

Javier Milei is giddy about Trump and his own accomplishments

18-11-2024 17:23 Almost one year into office, Javier Milei is, to the shock of pundits, having a moment. Not only does he have an ally back in the White House but on the economic front, he’s been racking up the victories.

ypf nationalisation case

Burford open to Argentine bonds for US$16-billion judgement

08-11-2024 19:36 Burford Capital, which won a US$16-billion judgement against Argentina over its nationalisation of energy firm YPF SA more than a decade ago are open to receiving payment in bonds instead of cash.

COURT WOES

US intervenes in YPF nationalisation court case

07-11-2024 20:43 United States asks judge to reject ‘vulture fund’ lawsuit seeking to seize YPF assets; Burford and Eton Capital funds are demanding company assets to guarantee payment on ruling obliging the state to pay US$16 billion for the expropriation of state energy firm.

ECONOMIC REPERCUSSIONS

Dollars, IMF, cepo – Economy Ministry’s expectations after Trump triumph

06-11-2024 23:59 The government is betting on ideological overlap between Milei and Trump helping Argentina to obtain the financing required to face the need for dollars.

by Ezequiel Orlando

POVERTY IN ARGENTINA

Soup kitchens struggle with growing queues as poverty rises

19-10-2024 06:18 Amid a deep economic crisis, food purchases have slumped 18.6% this year in Argentina. Meanwhile, demand at community soup kitchens is soaring, especially in some of the most impoverished and remote areas of the country.

by Agustina Bordigoni

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.

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.

ECONOMY & POLITICS

Banco de la Nación wants to sell debt after a 30-year hiatus

09-10-2024 12:11 Daniel Tillard, the new head of Argentina’s largest bank, wants state-run Banco de la Nación to re-enter international capital markets for the first time in three decades.

POLITICS & ECONOMY

Questions for Pettovello’s Human Capital Ministry over outsourcing, funding, hiring

07-10-2024 16:45 As reports emerge of new dismissals at the portfolio, the Human Capital Ministry refuses to respond fully to enquiries over control and use of 17 programmes agreed by international bodies.

by Pablo Varela

FINANCE & BUSINESS

Broker returns US $10 million in profit from Argentine ghost bonds

18-09-2024 12:05 Max Capital SA has returned nearly US$10 million in profits to the government after exploiting a loophole in a significant debt swap.

US COURT CASE

Burford cites governor in pursuit of US$16-billion YPF award

13-08-2024 14:39 Burford Capital suggests remarks by Buenos Aires Province Governor Axel Kicillof support its push to collect a US$16-billion US court award against YPF oil company.

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

FOREIGN CURRENCY RESERVES

Milei’s push to rebuild Argentina’s foreign reserves grinds to a halt

26-06-2024 23:36 Argentina's Central Bank is struggling to rebuild its chest of foreign reserves as it starts to spend money in currency markets to defend controls propping up the peso.

POLITICS – ANALYSIS

The political commissar, the sister and President Milei’s only friend

08-06-2024 05:32 With the expulsion of Nicolás Posse, Santiago Caputo becomes the only non-family member with a say in President Javier Milei’s inner circle.

by Agustino Fontevecchia

POLITICS

Officials close ranks behind Pettovello as pressure builds

06-06-2024 20:51 Leading figures in government close ranks behind embattled Human Capital Minister Sandra Pettovello; President Milei backs ‘best minister in history’ as foodstuffs scandal rumbles on.

EXPIRED FOOD SCANDAL

Expired food scandal: a chronology of hunger which the government sought to silence

06-06-2024 14:41 Human Capital Ministry’s missteps over more than millions of kilos of food held back at warehouses has exploded into scandal. Audits galore, dismissals, denunciations and an official communiqué overtaken by the facts.

INTERVIEW

Ex-Energy and Mining secretary Flavia Royón: 'RIGI is necessary’

06-06-2024 00:50 Former Energy & Mining secretary in Alberto Fernández and Javier Milei governments says RIGI investment incentive scheme is “necessary to develop LNG, hydrogen and mining projects.”

OIL & GAS

Oil driller’s 1,400% world-beating rally hinges on Milei reforms

23-05-2024 13:52 Vista Energy boss Miguel Galuccio knows shale. But his plans lie in the hands of President Javier Milei.

BUSINESS & INVESTMENT

Energy mogul makes 100-year bet on Argentina’s mineral wealth

20-05-2024 13:45 Through his holding company Integra Capital, José Luis Manzano is going all in on mining and mineral wealth.

ECONOMY

Milei says Argentina is ‘very close’ to lifting FX controls

15-05-2024 17:00 “The truth is that we’re very close to lifting” currency controls, Milei said Wednesday at a conference in Buenos Aires, without providing more specifics on timing.

EDITORIAL

Contradictions and multitudes

11-05-2024 06:07 The Javier Milei Presidency has never been short of contradictions.

CURRENCY CONTROLS

Argentina to offer bonds in first step to lift currency controls

26-04-2024 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

Crisis at Human Capital Ministry: abrupt exits and resignations

24-04-2024 16:18 Legal Secretary Maximiliano Keczeli not the first from Sandra Pettovello’s inner circle to quit post, but he is perhaps the most important figure to have stepped down. Milei’s ‘protective umbrella’ and administrative overspills.

by Ramón Indart

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.

US COURT RULING

Argentina defeats hedge fund suits over GDP-linked securities

01-04-2024 15:46 Argentina victorious as judge rejects claim by Aurelius Capital Management and other hedge funds seeking payment on securities tied to economic performance.

Bloomberg

Buyer of Clorox’s Argentine assets bets on consumer spending rebound

27-03-2024 20:19 Executives at Apex Capital, the buyer of Clorox Co assets in Argentina, expects consumption to recover in coming months.

YPF nationalisation case

Brazil backs Argentina in fight over US$16-billion US YPF judgment

05-03-2024 14:02 Brazil, Chile, Ecuador and Uruguay file "friends of the court" brief to assist Argentina’s appeal against a US$16.1-billion US court judgement over the controversial 2012 nationalisation of oil company YPF SA.

EMPLOYMENT & WELFARE

Government eliminates Potenciar Trabajo job scheme, plans new dual system

29-02-2024 00:08 Human Capital Minister Sandra Pettovello issues decree with President Javier Milei eradicating job aid scheme in bid to cut out intermediaries; New dual system set up to replace it.

POVERTY

More hunger, less money: Soup kitchens count rations

15-02-2024 00:33 At community meal centres across Argentina, a dual crisis is biting: the influx of ever more hungry mouths to feed during an economic crisis, and a decision by President Javier Milei's new government to freeze their aid.

ECONOMIC POLICY

Milei sets June deadline for lifting of capital controls

08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.

PROTESTERS CHALLENGE PETTOVELLO

Huge 'hunger line' in Buenos Aires challenges Milei's minister

06-02-2024 00:03 Sandra Pettovello’s claim she would attend to the hungry “one by one” backfires as hundreds of demonstrators form long queues outside her Human Capital Ministry, demanding greater state assistance in the face of a food emergency.

POLITICS

Government says it will take away welfare from protesters who block streets

18-12-2023 17:54 Argentina's government warns against street blockades on eve of major demonstration; Human Capital Minister Sandra Pettovello warns that those who participate and receive welfare support will have it taken away from them.

Bloomberg

Hedge fund rides Argentina gain, says Milei is underestimated

12-12-2023 09:50 Brazilian hedge fund manager Vista Capital says Javer Milei is more "political and sensible that many watchers anticipated."

PRESIDENT MILEI

Argentina rally put to test as challenges await Milei

09-12-2023 08:47 Investors’ giddiness with Argentina will be put to the test as Javier Milei takes over on Sunday.

BLOOMBERG

Longtime bull Greylock says Argentina in ‘safe hands’ with Massa

25-10-2023 12:14 Hans Humes, the chief executive and founding partner of Greylock Capital Management, says Sergio Massa is better equipped to steer Argentina through much needed fiscal changes.

Election 2023: BUENOS AIRES CITY

Santoro pulls out of City mayoral run-off, handing Jorge Macri victory

24-10-2023 15:22 Unión por la Patria mayoral candidate Leandro Santoro decides not to compete in a run-off against rival Jorge Macri; With count ongoing, campaign says team have realised they cannot win, but sceptics will see move as a cynical bid to dampen turnout by Juntos por el Cambio voters on November 19.

by James Grainger

Election 2023: BUENOS AIRES CITY

Jorge Macri wins big City mayoral race but will face run-off

23-10-2023 04:41 Juntos por el Cambio close to retaining control in its stronghold; Jorge Macri almost wins in first round but will now face run-off against Leandro Santoro; Opposition also wins in Entre Ríos Province, but Catamarca will remain Peronist.

by James Grainger

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.

ELECTION 2023

Bullrich closes campaign, promises to end 'Kirchnerite corruption'

19-10-2023 18:22 Patricia Bullrich wrapped up her presidential campaign Thursday, vowing to tackle crime, corruption and record inflation, while taking aim at her main rivals.

INTERVIEW

Jorge Macri: ‘If Patricia Bullrich makes the run-off, she’s president’

17-10-2023 08:15 Buenos Aires City mayoral candidate if confident Juntos por el Cambio will make it into the second round of the presidential election, pointing to “plenty of crossover” between Sergio Massa and Javier Milei and affirming that “the proximity to Luis Barrionuevo shows a dependence on the traditional political mechanisms” on the part of the liberals.

by Ezequiel Spillman

THIRST FOR DOLLARS

Argentines’ love of dollars creates a windfall for local brokers

02-10-2023 16:53 Argentina’s economic disaster has sent inflation soaring and pushed poverty levels toward a 15-year high. But for local brokerages, the chaos has fuelled a boom unlike anything industry veterans can remember.

Elections 2023

Cross attitudes and crossfire as Marra targeted in City mayoral debate

28-09-2023 17:01 Four candidates to be the next mayor of Buenos Aires City – Jorge Macri, Leandro Santoro, Ramiro Marra and Vanina Viassi – take part in first televised debate; Libertarian draws eye with aggressive approach and strange comments.