News of economy

Argentina wins upgrade from Moody’s in boost for Milei

Yesterday 23:40 Argentina’s credit rating raised by Moody’s Ratings to 'Caa3,' the third-lowest level of junk and on par with Ecuador, Bolivia and Ethiopia.

POLITICS

Milei tells top legal official Rodolfo Barra to resign

25-01-2025 10:15 President Javier Milei has sacked Rodolfo Barra, the attorney general of Argentina’s Treasury.

UNITED STATES

Trump warns business leaders: produce in US or pay tariffs

23-01-2025 23:52 US president issues blunt warning to global elites, stating that products should be made in the United States or they will face rising tariffs.

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.

ECONOMIC INDICATORS

Argentina's economy grew more than expected in November

23-01-2025 17:42 Economic activity rose 0.9% from October, according to INDEC data.

ENERGY & GAS

Shale spurs Argentina’s largest energy trade surplus since 2006

23-01-2025 16:34 Argentina scored its widest annual energy trade surplus in nearly two decades in 2024 thanks to booming oil and gas production.

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.

ECONOMIC ANALYSIS

Dollar, IMF, tariffs – how Trump’s measures will impact Argentina

23-01-2025 00:35 US President’s protectionist policies clash with the free-market creed of President Javier Milei’s government. Argentina’s quest for support with the IMF, the negative effects of the "super dollar" and uncertainty as to the commercial dynamics.

by Martín Fernández Nadale

WORLD ECONOMIC FORuM

Milei praises Trump at Davos, but seeks deeper ties with China

22-01-2025 16:37 President indicates he has shifted stance on China, describing the nation as a "great trade partner," and showers praise on US President Donald Trump.

FOREIGN RELATIONS

Milei would leave Mercosur if needed for US-Argentina deal

22-01-2025 15:09 President Javier Milei says he would leave Mercosur if necessary to cement a free-trade agreement with the United States.

EU-MERCOSUR TRADE DEAL

EU to set up one-billion-euro 'reserve' for farmers hit by Mercosur deal

21-01-2025 15:08 European Union vows to create one-billion-euro "reserve" for farmers negatively impacted by Mercosur trade deal.

BLOOMBERG - ANALYSIS

Milei back in Davos after racking up victories in Argentina

21-01-2025 09:39 Argentina's president has achieved what few considered possible just a year ago. Will he be able to overcome even bigger challenges in 2025?

ECONOMIC INDICATORS

Argentina recorded record trade surplus in 2024

20-01-2025 22:48 Argentia recorded its biggest-ever trade surplus in 2024 – partly due to a drop in imports caused by recession.

AGRICULTURE & ECONOMY

Rainfall falters for Argentina’s baked soybean and corn farms

20-01-2025 14:57 Rains that were forecast to fall on farmland over the weekend largely failed to materialise, leaving the region continuing to suffer from dryness.

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 POLICY

Milei touts 'promises kept' after rare budget surplus

18-01-2025 10:21 Economy Minister Luis Caputo confirms Argentina's budget surplus, which amounted to 0.3% of GDP, was the first since 2010.

Foreign relations & diplomacy

Peña says Paraguay thrilled to be on Trump’s radar

18-01-2025 10:10 Paraguay President Santiago Peña says as his nation stands to become more relevant in the next US administration.

ECONOMIC OUTLOOK

IMF projects strong economic growth for Milei's Argentina in 2025

17-01-2025 18:59 International Monetary Fund estimates that Argentina’s economy contracted by 2.8% last year, but projects five percent growth in the coming two years.

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.

ECONOMIC OUTLOOK

World Bank forecasts 5% growth for Argentina in 2025

17-01-2025 09:52 After two years of recession, President Javier Milei’s government will see approximately five percent in GDP this year, followed by a further 4.7 percent in 2026, predicts World Bank.

TRUMP'S INAUGURATION

Milei to join far-right leaders, tech moguls at Trump's inauguration

16-01-2025 19:23 Along with the president's usual travelling crew, one unexpected Argentine will also be in attendance: San Juan Province Governor Marcelo Orrego.

International Summit

Trump to make 'digital' appearance at Davos meeting

14-01-2025 17:30 US president-elect will "digitally" join world leaders at the annual World Economic Forum; President Javier Milei will also address global elite at summit.

ECONOMY – ANALYSIS

Milei lowers peso crawling peg to 1% after inflation stabilises

14-01-2025 16:43 Monthly inflation continues to run near a four-year low, opening the door for first change to currency policy in more than a year.

ECONOMIC INDICATORS

INDEC reveals Argentina's 2024 inflation rate: 117.8%

14-01-2025 16:38 Annual inflation nosedives in boost for Milei; Prices rose 2.7% last month, reports INDEC; Bureau’s data shows inflation fell almost 94 points year-on-year.

ECONOMIC INDICATORS

Poverty affected 28.1% of portenos in Q3 2024

14-01-2025 14:40 Nearly 900,000 porteños were considered poor in the third quarter of 2024, according to City Hall statistics bureau.

International Monetary Fund

IMF publishes grim evaluation of Argentina’s US$44-billion deal

12-01-2025 08:55 Ex-post evaluation paints a grim picture of Argentina’s latest IMF programme that began in March 2022. Staff detailed reckless policy decisions by the government of former president Alberto Fernández that derailed the programme and economy in the run-up to the 2023 presidential election.

Analysing Argentina

Main Street and Milei Street

11-01-2025 06:26 any process of economic transformation, like the one President Javier Milei is trying to implement, will have winners and losers.

by Marcelo J. García

SPENDING CUTS

Scientists warn Milei wants to 'deepen' cuts, slash state research

10-01-2025 14:51 Scientists and academics warn the Milei administration wants to cut research funding across social and environmental sciences.

Hidrovía Paraná-Paraguay

Paraná-Paraguay waterway a focal point for global security policy

10-01-2025 13:44 Ongoing tussle involving major dredging companies seeking to participate in Milei government's tender. Hidrovía Paraná-Paraguay is a naval highway for the trafficking of illicit drugs to the rest of the world.

Analysis

Midterm elections set limit on Milei’s search for spending cuts

10-01-2025 13:26 Spending cuts in 2024 reached some five percent of Argentina's GDP. Is there room to repeat this feat?

BEYOND THE HEADLINES

Is appreciation appreciated?

09-01-2025 19:37 Currency appreciation has been a central factor in giving Milei a dream spring – let us see if that same factor impelling several million Argentines to vacation abroad this summer sends the balance of payments wheel spinning in the opposite direction.

by Michael Soltys

ECONOMIC FORECASTS

Central Bank poll predicts 2025 inflation rate of 25.9%

09-01-2025 14:22 Projections for last year’s inflation rate dips to 117.8% in Central Bank’s market expectations survey.

ECONOMIC INDICATORS

City inflation accelerated slightly to 3.3% last month

09-01-2025 13:50 Consumer prices rose 3.3% last month due to increases in services; City Hall data shows that inflation over the last 12 months totalled 136.7% in 2024.

WHERE'S THE GOLD?

Argentina refuses to disclose location of Central Bank’s gold

09-01-2025 13:13 Lawyers representing Argentina in a New York court have refused to reveal the location of the Central Bank’s (BCRA) gold reserves.

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.

DEBT REPAYMENTS

Official says country made payments on sovereign debt

09-01-2025 11:38 Finance Secretary Pablo Quirno said on a post on X Thursday morning that Argentina's government has made debt payments to international bondholders.

POLITICS & MEDIA

Despite ‘no pauta’ rule, Milei finds other ways to reward or punish the media

08-01-2025 15:56 The Milei administration cut state advertising as part of its austerity plan, but quietly, other state bodies and firms continue to distribute cash without transparency.

GLOBAL LITHIUM TRADE

Stubbornly resilient lithium supply remains hurdle to recovery

08-01-2025 10:06 Lithium prices have plunged since late 2022 on oversupply and slower-than-expected growth in electric vehicle demand. Analysts see a surplus this year, although they forecast it will be smaller than in 2024.

AGRICULTURE & ECONOMY

La Niña effects surprise Argentine farmers as dryness kicks in

07-01-2025 16:55 La Niña wreaked havoc on Argentina’s farms just two years ago. Now, a long bout of dry weather is emerging again.

LATIN AMERICA

Between Milei and Lula, Paraguay finance chief eyes austere path

07-01-2025 12:32 Paraguay Finance Minister Carlos Fernández argues sustainable fiscal policy matters in a region exposed to international crisis.

EU-MERCOSUR TRADE DEAL

EU-Mercosur free-trade deal 'not concluded,' says Macron

06-01-2025 16:38 French President Emmanuel Macron declares that the controversial free-trade agreement between the European Union and the Mercosur bloc is "not concluded."

ECONOMIC INDICATORS

Argentina's country risk rating falls to lowest level since 2018

06-01-2025 15:21 Argentina’s country risk rating falls to lowest level since August 2018.

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.

SOCIETY

Expert reports say poverty rate has fallen to 36.8%

04-01-2025 15:11 Experts warn of structural poverty risks as two reports tracking indices say the number of Argentines considered poor fell significantly in the last quarter of 2024.

Analysing Argentina

May you live in happy times, Mr President

04-01-2025 07:54 Much of this success hinges on the Pax at the exchange rate market. Prices in Argentina dance to the tune of one price: that of the US dollar.

by Marcelo J. García