POLITICS – ANALYSIS Milei gains 'breathing room' from his ties with Trump Yesterday 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
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.
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.
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.
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.
POLITICS: MIDTERMS 2025 Milei’s worst week yet complicates La Libertad Avanza’s campaign 07-04-2025 10:17 Preoccupied by other pressing matters, La Libertad Avanza’s campaign for the upcoming elections is set to kick off with the “chainsaw tour,” which Manuel Adorni front and centre. by Pablo Varela
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.
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.
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.
IMF PROGRAMME Caputo: Argentina wants a ‘high’ first disbursement from IMF 31-03-2025 14:04 Economy Minister revealed last week that Argentina is seeking around US$20 billion in fresh financing from the IMF, on top of its existing US$44-billion debt.
Editorial Into More Frenzy 29-03-2025 06:11 Perhaps today’s economic situation is best explained by saying: “It’s the elections, stupid.”
POLITICS – ANALYSIS Tales of the blue (dollar) 29-03-2025 06:11 Milei and Caputo have promised to lift the 'cepo' currency controls. It won’t signal the end of the 'blue,' but it should reduce its importance and the wild fluctuations that voraciously mint millionaires and, at the same speed, erase their fortunes. by Agustino Fontevecchia
IMF PROGRAMME Argentina seeks large portion of US$20-billion IMF deal up front 28-03-2025 12:00 The size of Argentina’s first disbursement has become the most important issue of negotiations at this stage, with President Milei's government seeking a large portion up front.
IMF DEBT PROGRAMME Argentina says its new IMF programme will total US$20 billion 27-03-2025 15:00 The economy minister added that funds combined from the IMF, World Bank, Inter-American Development Bank and regional bank CAF would put Argentina’s Central Bank reserves near US$50 billion.
NEW IMF DEAL Caputo says Argentina’s new IMF deal includes US$20 billion 27-03-2025 10:30 Economy Minister Luis Caputo says new IMF programme for Argentina will include US$20 billion in fresh funding. by James Grainger
ANALYSIS How many dollars does Luis Caputo need to reach the midterms? 27-03-2025 00:39 The market is spotlighting fresh funds. The blend could be a bargaining-chip for exchange rate intervention. Central Bank reserves back to levels of late 2023. by Eugenia Muzio
ANALYSIS: SHOCK THERAPY Traders bet on weaker peso as Milei’s IMF deal looms 26-03-2025 21:39 Investors see Argentina’s peso on the verge of devaluation again, but for Javier Milei, such a step could prove costly – especially ahead of midterm elections in October.
ANALYSING ARGENTINA Autumn is coming for Javier Milei 22-03-2025 07:41 Last week, we discussed how an electoral agreement with the governor of Chaco signalled a possible pattern. This week, Chaco Governor Leandro Zdero received a 120-billion-peso transfer from the federal government. Just don’t tell the IMF. by Marcelo J. García
POLITICS – ANALYSIS Political hegemony turning to pathetic circus 22-03-2025 07:14 Market jitters have pushed the government into a defensive posture, in which Economy Minister Luis ‘Toto’ Caputo appears to have involuntarily flamed the fans of devaluation. by Agustino Fontevecchia
IMF DEBT PROGRAMME IMF deal will be agreed by mid-April, says Milei 20-03-2025 18:27 Lower house backs presidential decree authorising new deal with International Monetary Fund.
IMF DEBT PROGRAMME Milei wins lower house approval to agree new IMF loan 19-03-2025 17:52 Milei granted free hand in negotiations with International Monetary Fund over a new programme as lower house backs decree authorising talks.
Congress & Politics Congress upholds Milei’s decree to back new IMF-Argentina deal 19-03-2025 17:44 Lower house lawmakers vote in favour of President Javier Milei’s emergency executive decree backing a new deal with the International Monetary Fund.
HUMAN RIGHTS Lawyer opposed to gender policies gets top human rights post 18-03-2025 16:34 Úrsula Basset, specialist in family law who has backed President Milei’s “cultural battle” against “wokeism,” named as new human rights director for Argentina’s Foreign Ministry.
POLITICS & ECONOMY Milei boosts budget of SIDE intelligence services by 7.3 billion pesos 14-03-2025 09:14 More funds for discretionary “reserved spending” for intelligence services; Increase in intelligence funding comes just days after President promised funds for storm-hit Bahía Blanca.
POLITICAL ANALYSIS Challenging Milei’s ‘iron triangle’ 08-03-2025 06:00 The Donald holds the keys to Milei’s future. by Agustino Fontevecchia
ANALYSING ARGENTINA Exit rigging, enter RIGI 08-03-2025 06:00 Argentina has, many times in its recent past, seen long-term sustainability ruined by short-term objectives. by Marcelo J. García
NEW IMF PROGRAMME ‘Devaluation not the solution,’ says Caputo on IMF deal 06-03-2025 22:27 End of April target set; Deal could include US$20 billion in funds, says Wall Street bank.
POLITICS: CORRIDORS OF POWER Santiago Caputo’s consecutive errors, government accelerates campaign mode 05-03-2025 10:25 Run of missteps by Javier Milei’s star spin doctor causes problems for the President. by Ramón Indart
CLASH AT CONGRESS BUILDING Top comms advisor Santiago Caputo aggressively confronts lawmaker 02-03-2025 15:34 President Javier Milei's top adviser Santiago Caputo accused of threatening and aggressively confronting UCR deputy Facundo Manes, who denounces "a government methodology designed to intimidate" and divert lawmakers from their institutional duties.
POLITICS & CONGRESS Milei promises more cuts, says 'chainsaw' symbolises ‘change of era’ 02-03-2025 11:19 “We are the best government in Argentina’s history,” declares President, as he brushes off absences from opposition governors and deputies to hail his government’s economic measures and promise further “chainsaw” cuts lie ahead.
Foreign relations & diplomacy Caputo to skip G20 meeting in South Africa 24-02-2025 17:30 Argentina’s Luis Caputo is the latest economy minister to skip a meeting of G20 finance chiefs in South Africa.
INTERVIEW CONTROVERSY Pressure on Santiago Caputo after clip leaked from Milei-Viale interview 18-02-2025 17:36 President granted an interview to Jonatan Viale about the scandal prompted by the ‘$LIBRA’ cryptocurrency; Interrupted by his top advisor Santiago Caputo during it, criticism rains down on government and journalist.
IMF TALKS Caputo says talks over new IMF agreement entering final phase 18-02-2025 11:12 “We’re onto the final points, negotiating the amount and the terms on which we agree,” says economy minister.
POLITICS & ECONOMY – ANALYSIS Milei’s week of fury 15-02-2025 06:05 The market has doubts as to whether Milei and Caputo can sustain what is clearly a super strong peso, forcing them to come out publicly to defend their policy choices. The level of aggression with which they have defended their position suggests that the risks to their strategy are real. by Agustino Fontevecchia
ANALYSIS Argentina inflation hits lowest level since mid-2020 13-02-2025 16:41 Annual consumer price hikes dip below 100% for the first time in two years as Milei continues to tame inflation.
ECONOMIC INDICATORS Inflation slowed to 2.2% in January – lowest rate in four-and-a-half years 13-02-2025 16:06 Boost for President Javier Milei and Economy Minister Luis Caputo as inflation slows to 2.2%; Consumer prices have risen 84.5% over the past 12 months, according to government data.
POLITICS ‘Iron triangle’ joy as Santiago Caputo formally joins La Libertad Avanza 08-02-2025 08:53 President Milei’s key advisor Santiago Caputo now formally affiliated with La Libertad Avanza; Photos published marking event send clear message to rest of ruling party.
NEW IMF DEAL ON WAY? 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.
POLITICS – ANALYSIS From PRO to Cambiemos… to Juntos por el Cambio or Juntos? 01-02-2025 08:56 Milei’s first year in office has indicated the need for the ex-members of Juntos por el Cambio to recover their identity. by Jorge Fontevecchia
Analysing Argentina Macri is fighting for his life – he will lose 01-02-2025 08:48 Mauricio Macri is making a desperate attempt to keep his political structure alive — and under his wing. by Marcelo J. García
Editorial Into More Funds? 01-02-2025 00:01 There seems to be a complacent assumption in many government circles that negotiations with the International Monetary Fund are a slam dunk now that Donald Trump occupies the White House.
Analysing Argentina Milei’s learning curve 25-01-2025 06:48 Milei’s learning curve should take note from his predecessors: too much orthodoxy or unorthodoxy leads to trouble. by Marcelo J. García
AGRICULTURE & ECONOMY Argentina slashes export taxes to rescue drought-hit farmers 23-01-2025 23:25 Argentina slashes taxes on major crops, assisting farmers wrestling with a drought and low global prices.
AGRICULTURE & ECONOMY Government temporarily reduces export duties in boost for farmers 23-01-2025 23:19 Economy Minister Luis Caputo confirms that Argentina will temporarily lower export duties.
International Monetary Fund Caputo returns to Argentina for talks with IMF team 23-01-2025 14:46 IMF Managing Director Georgieva meets President Javier Milei in Washington, highlights "tremendous progress" of Argentina’s economy. Technical team already in Buenos Aires, but Economy Minister Luis Caputo plays down talk of rapid removal of currency controls.
INTERNATIONAL MONETARY FUND IMF to send team to Argentina after ‘excellent’ Milei meeting 20-01-2025 09:21 IMF Managing Director Georgieva meets President Javier Milei in Washington and highlights "tremendous progress" of Argentina’s economy. An IMF team will travel to Buenos Aires next week to accelerate talks over a new programme.
ECONOMIC INDICATORS Argentina posts fiscal surplus after Milei’s budget cuts 17-01-2025 18:49 President Javier Milei made good on his promise to deliver a fiscal surplus in his first year, achieving a feat not seen in over a decade in Argentina’s deficit-prone economy.
CENTRAL BANK MANOUEVRES Argentina takes steps to dollarise and holds key rate 17-01-2025 11:49 Argentina’s Central Bank said payment intermediaries will have to enable debit card transactions in US currency by February 28, marking a key step in President Javier Milei’s pledge to dollarise the economy.
BONDS & MARKETS Milei celebrates as Argentina pays US$4.3B to bondholders 09-01-2025 13:07 "Debts must be paid," declares President Javier Milei as Treasury makes first due bond repayments of 2025, amounting to US$4.341 billion in principal and interest.
REPURCHASE AGREEMENT Milei scores win with US$1-billion repo from five top banks 05-01-2025 09:47 Milei administration announces US$1-billion repurchase agreement with five international lenders that will help replenish foreign reserves at its Central Bank.