News of economy

Argentina's GDP shrank less than expected in 2024

Today 11:44 Argentina beats the World Bank's projection and shrinks GDP by just 1.8 percent as part of Milei's self-proclaimed "largest fiscal adjustment in history."

ECONOMIC INDICATORS

Economy beat expectations again in December

Yesterday 17:55 Economic activity rose 0.5% from November; From a year ago, the gross domestic product proxy grew 5.5%.

SHOCK THERAPY

Milei’s strong peso revives domestic football with million-dollar contracts

Yesterday 15:35 President’s peso policy has domestic clubs spending big; More than two dozen players now make US$1 million or more a year.

BUSINESS & TELECOMMUNICATIONS

Milei vows ‘monopoly’ probe as Telefónica sells to Clarín

Yesterday 11:39 Spanish telecoms giant Telefónica announces US$1.25-billion deal to sell subsidiary to Telecom Argentina; Milei vows ‘monopoly’ probe into takeover by company controlled by Grupo Clarin.

BUSINESS & INVESTMENT

Telefónica’s US$1.25-billion Argentina sale draws Milei’s scrutiny

24-02-2025 18:56 Telefónica agrees to sell its operations in Argentina to Telecom Argentina SA for US$1.25 billion, drawing a warning for President Javier Milei's government that it will review the transaction.

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 / PERIODISMO PURO

Alberto Fernández: ‘Milei has the problem of being completely dogmatic’

23-02-2025 06:08 In the final part of a feature interview, former president Alberto Fernández discusses the insurance corruption allegations he faces in the courts, President Javier Milei, Peronism and his relationship with Cristina Fernández de Kirchner.

by Jorge Fontevecchia

Foreign policy & diplomacy

Milei pitches US-Argentina trade deal to Trump-friendly audience

22-02-2025 15:15 President Milei tells audience of US conservatives that he wants to be the first to sign a free-trade deal with US President Donald Trump, but warns Argentina is "restricted" by Mercosur.

Editorial

La $Libra no avanza

22-02-2025 06:05 There can be no excuse for a President turning into an influencer for such a risky venture. A trained economist should always check the facts before reaching conclusions.

BUSINESS & MARKETS

MercadoLibre shares rally after record quarter of profit

20-02-2025 23:55 MercadoLibre stock jumped as much as 14% in after-hours trading after Latin American e-commerce and fintech giant’s profit far surpassed estimates.

MILEI IN AMERICA

Milei seeks rebound from crypto saga on visit to Trump world

20-02-2025 14:06 Until last week, Milei had done little but wow investors. But last Friday's cryptocurrency controversy has tested the pillars of his popularity.

POLITICS & ECONOMY

Milei opens up Argentina's largest bank to private capital

20-02-2025 13:15 Before travelling to the United States, Milei signs decree transforming Banco Nación into a public limited company; Privatisation had been previously proposed by the government, but Congress rejected it.

'CRYPTOGATE' SCANDAL

Milei’s crypto scandal led to losses for 86% of traders

19-02-2025 23:17 Estimated 86% of crypto traders that took positions in a memecoin endorsed by President Javier Milei ended up losing money, according to research firm.

'CRYPTOGATE' SCANDAL

$LIBRA scandal: Multi-million-dollar civil lawsuit in US 'being prepared'

19-02-2025 16:37 New York law firm has already gathered more than 200 clients from Argentina, the United States, Europe and Asia for a possible class-action suit, according to 'La Nación' report.

NEW DEBT ISSUANCE

Provinces eye debt sales as economic optimism mounts

19-02-2025 15:30 Buenos Aires City— which oversaw a failed debt tender offer toward the end of 2024 — and Córdoba Province are each mulling the sale of around US$500 million of bonds between March and May

'CRYPTOGATE' SCANDAL

Argentina scandal fuels sell-off on favourite memecoin platform

19-02-2025 09:07 Solana cryptocurrency sinks to the lowest level since early November after scandal involving President Javier Milei.

GAS & ENERGY

Argentina looks to purchase winter LNG imports in early March

19-02-2025 09:00 Argentina's state-owned gas importer ENARSA will start buying liquefied natural gas in early March, ahead of the start of the southern hemisphere winter.

'CRYPTOGATE' SCANDAL

Milei crypto scandal widens with allegations against his sister

19-02-2025 08:00 The political uproar over President Javier Milei’s role in a crypto scandal puts the spotlight on his closest adviser and gatekeeper: his sister Karina.

'CRYPTOGATE' SCANDAL

Explainer: ‘Cryptogate’ scandal involving Milei and Argentina

18-02-2025 17:49 Last Friday evening, Argentina's President Javier Milei promoted (or “shared,” according to his version of events) information about the ‘$LIBRA’ memecoin on social media. Just a few hours later, he was regretting the post.

SIZEABLE BLACK ECONOMY

US$30 billion a year – Ecuador reveals size of local cartel trade

18-02-2025 14:44 Ecuador's President Daniel Noboa admits that cartels and gangs move US$30 billion worth of drugs, arms and other illicit goods through his country a year.

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

Milei denies role in 'cryptogate' as prosecutors launch probe

18-02-2025 08:49 President denies promoting 'Libra' cryptocurrency that crashed last Friday, sparking huge losses for investors and prompting a flood of complaints.

'CRYPTOGATE' SCANDAL

Milei denies wrongdoing in his first defence of crypto debacle

18-02-2025 08:34 President Javier Milei denies wrongdoing in cryptocurrency scandal that’s dented his reputation, triggering lawsuits and even calls for his impeachment.

CRYPTO SCANDAL

Criptogate: Government plays down scandal, paints Milei as victim

17-02-2025 15:43 Casa Rosada closes ranks and claims President was unaware of details of controversial ‘Viva la Libertad Project’; Macri blamed for working against government.

‘CRYPTOGATE’ SCANDAL

Investigation to probe Milei’s conduct over 'cryptogate'

17-02-2025 15:34 Judge María Servini assigned probe into President’s conduct in launch of ‘$LIBRA’ cryptocurrency; Government announces its own investigation into scandal.

POLITICS & ECONOMY

Milei stumbles into crypto memecoin scandal before US trip

17-02-2025 14:27 President Javier Milei's government launches probe after Libra debacle; La Libertad Avanza leader hoping to meet Trump, secure fresh IMF funds in Washington.

CRYPTO SCAM?

Milei pushes crypto token, then deletes post amid fears of scam

15-02-2025 09:25 Milei deleted initial post pushing crypto token, saying he was “not aware of the details of the project and after having become aware of it I decided not to continue spreading the word.”

EDITORIAL

Exeunt severally

15-02-2025 06:26 Volatility would seem to be the middle name of the Milei administration.

ANALYSING ARGENTINA

Cavallo, Milei and the elephant in the room

15-02-2025 06:08 Besides numbers, markets measure moods and tones. And the tone they got from President Javier Milei this week may not have been reassuring.

by Marcelo J. García

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

FRAUD ALLEGATIONS

Milei accused of scamming supporters as he pushes crypto token

15-02-2025 00:09 President Javier Milei sparks major controversy after pushing new cryptocurrency token online; Experts warn of potential fraud as '$libra' coin soars in value before becoming worthless in just a few hours.

Foreign relations & diplomacy

Trade war puts Milei’s Trump-first foreign policy to the test

14-02-2025 10:48 Javier Milei has spent his presidency cozying up to Donald Trump. But Argentina’s suddenly vulnerable position on tariffs demonstrates that not even friends are clear of Trump’s trade ire.

WELFARE CLAMPDOWN

Milei government summons disability recipients to ‘audit’ hearing

14-02-2025 10:22 Hundreds of thousands of Argentines who receive disability pensions are to be summoned to a hearing in cost-cutting push to establish and verify if they are eligible and if the welfare payment “reaches those who need it.”

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.

ECONOMIC INDICATORS

Argentina records highest monthly trade deficit with Brazil in seven years

13-02-2025 00:17 Bilateral trade between the two Mercosur partners was US$2.098 billion last month, up 34.1% from the previous January, but imports surge takes Argentina into negative territory.

AGRICULTURE

Milei’s plan to boost farm exports: stop ships from running aground

12-02-2025 11:41 Argentina’s government is moving to give the neglected Paraná waterway its first major upgrade in nearly two decades. But time is running out for the fixes to be made.

START-UPS

Dozen Latin America start-ups flagged as top unicorn candidates

11-02-2025 17:01 At least a dozen tech firms in the region could cross the coveted US$1-billion valuation mark this year, according to specialised platform Distrito.

Currency flows

Argentines spend most dollars since 2018 on strong peso policy

11-02-2025 12:29 Argentines are spending the most amount of dollars in years as they cash in on a strong peso.

POLLING & SURVEYS

Argentines want US trade deal despite competition, tariff fears

11-02-2025 09:03 Argentines support President Milei’s quest to negotiate a free-trade agreement with the United States, but are split over competing with US firms.

SINS OF THE FATHER?

Milei fires Cavallo’s diplomat daughter after peso criticism

10-02-2025 16:45 Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

Editorial

Super size peso

08-02-2025 06:46 The peso is a palpably overvalued currency. Denialism is not the solution but nor is devaluation.

ECONOMIC INDICATORS

Data shows 185,000 jobs lost in Milei’s first 12 months

06-02-2025 08:42 More than 185,000 formal jobs were lost in the first 12 months of President Javier Milei’s government, with official data indicating that the recovery has yet to arrive.

AGRICULTURE & ECONOMY

Soy falls as US-China talks loom, weather improves in Argentina

05-02-2025 15:23 Soybean prices fall on worries that US-China trade tensions and bearish weather in Argentina.

‘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.

SCIENCE & TECHNOLOGY

Milei’s chainsaw slashes funds for science, research institutes

01-02-2025 09:12 President Javier Milei’s government has drastically reduced the budgets of the CONICET scientific research council, INTA agricultural technology body and ARSAT satellite firm – now entire programmes are being eliminated.

by Andrea Gentil

MONETARY POLICY

Central Bank cuts key rate to 29% as peso depreciation slows

30-01-2025 23:43 Central Bank cuts benchmark interest rate by 300 basis points to 29%.

SELf-SERVICE FUEL

Unions warn new self-service fuel pump rules will mean job losses

30-01-2025 16:55 President Javier Milei’s government issues decree allowing self-service fuel pumps at service stations across Argentina; Union warns as many as 70,000 jobs could be lost.

ECONOMY – ANALYSIS

Argentina and the IMF – scenarios for a possible new agreement

28-01-2025 10:04 Milei government and IMF continue to fine-tune a future agreement which is likely to include a remittance of some US$11 billion to bolster Central Bank coffers, allowing Argentina to remove the ‘cepo’ currency and capital controls.

by Gonzalo Martínez