Editorial The Pact of May (or maybe?) 09-03-2024 06:30 This month and the next stand to be the eye of a perfect storm – a rare moment in the always abnormal Argentine economy which is a nightmare for spenders and savers alike.
CORRUPTION & THE COURTS Former president Alberto Fernández charged in graft case 29-02-2024 20:05 Former president Alberto Fernández was charged Thursday with alleged embezzlement of public funds – now a judge must decide whether to prosecute.
EU-MERCOSUR TRADE DEAL Argentina criticises EU as Mercosur trade talks bog down again 20-02-2024 09:29 President Javier Milei’s top diplomat, Diana Mondino, offers grim assessment of Mercosur-European Union free-trade deal, revealing that treaty may be broken up into parts.
As I see it The Kirchnerites have Milei in their sights 13-01-2024 06:21 The fate of the new government will depend largely on Milei’s ability to persuade people that the fearful emergency he goes on about is not just a figment of an overheated imagination but something terribly real. by James Neilson
FOREIGN POLICY & DIPLOMACY Argentina formally rejects BRICS membership 29-12-2023 20:38 President Javier Milei send letters to BRICS leaders to formalise his decision to reject an invitation to join the grouping.
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.
ECONOMIC INDICATORS Record money-printing: 9.439 billion banknotes in circulation as Fernández leaves office 04-12-2023 18:01 The money moving around "the street" has gone up 80 percent in the last four years. On average there are currently 2,050 banknotes per inhabitant in circulation, none worth more than US$2 each.
President on poverty 'Badly measured' – Fernández questions official poverty rate 04-12-2023 13:53 President Alberto Fernández has questioned the INDEC national statistics bureau, saying he think that Argentina’s official poverty rate is “badly measured.”
EU-MERCOSUR TRADE DEAL Argentina: Conditions not in place to sign Mercosur-EU deal 04-12-2023 12:09 Argentina’s outgoing government says conditions are not in place to sign long-delayed free-trade agreement between Mercosur and European Union.
ELECTION 2023: FALL-OUT Milei says no transition meeting planned as Massa decides to stay on 20-11-2023 18:39 Javier Milei says that "there is no meeting planned" with President Alberto Fernández and says responsibility for period until December 10 inauguration lies with head of state and Sergio Massa, who decides to stay on as economy minister.
IMF DEBT DEAL Argentina pays US$2.6 billion maturity to IMF 01-11-2023 21:12 State news agency confirms Argentina's government made US$2.6-billion payment to settle maturity from record International Monetary Fund debt programme.
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.
ELECTION 2023 Milei’s warning about break with China creeps into president’s tour 17-10-2023 15:55 Government sources admit Chinese officials have expressed "concern" over libertarian's statements on Argentina's relationship with China during meetings.
EDITORIAL We’ve got the blues again 14-10-2023 05:20 Regardless of whether Milei is an economic terrorist or whether the government is the architect of its own destruction, the problems caused by the extreme volatility of this week’s four-digit dollar are all too real with panic price increases across the board.
POLITICAL AND FINANCIAL UNREST Recriminations fly as peso flounders ahead of vote 11-10-2023 21:55 President Alberto Fernández files a criminal complaint for "public intimidation" against Javier Milei, blaming the libertarian for the peso's weakening on informal markets.
Election 2023 President denounces Milei for fuelling run on currency 11-10-2023 21:39 President Alberto Fernández confirms he has reported La Libertad Avanza leader Javier Milei and libertarian City mayoral candidate Ramiro Marra to authorities for prompting run on currency.
IMF DEBT PROGRAMME IMF confirms Argentina asked to postpone October payments 06-10-2023 14:52 Request confirmed by the global monetary watchdog on Thursday; Government will have to pay US$3.4 billion after the election.
UNITED NATIONS GENERAL ASSEMBLY President Fernández uses final UNGA address to reiterate IMF, Malvinas demands 19-09-2023 20:44 President Alberto Fernández demands United States end "inadmissible" economic blockade of Cuba and sanctions applied to Venezuela in final address to United Nations General Assembly as head of state.
ECONOMIC INDICATORS Government has printed equivalent of 18% of GDP since 2019 19-09-2023 09:33 New report says President Alberto Fernández’s administration has printed the monetary equivalent of 3% of GDP so far this year, most of it aimed at the repurchase of bonds to protect their price level.
PROTEST AGAINST THE FUTURE? Government ‘protests’ rivals' proposed policies with public works ‘shutdown’ 14-09-2023 16:56 Public Works Minister Gabriel Katopodis on Wednesday headed assemblies of construction workers with the aim of "creating awareness" as to the potential post-election changes which the ruling coalition’s rivals would implement in the sector.
WATERWAYS South American neighbours slam Argentina over river tax on Paraguay 11-09-2023 21:18 Argentina’s neighbours have sharply criticised its tax against commercial boats travelling through the key Paraná River, backing Paraguayan objections.
MASSA'S NEW MEASURES Argentina lifts wages, welfare in defiance of IMF austerity push 28-08-2023 12:29 IMF approved US$7.5-billion cash transfer to Argentina in August; Negotiations over loan included limits on more public spending.
FOREIGN POLICY & DIPLOMACY BRICS membership in doubt as opposition rejects move 24-08-2023 18:13 Presidential candidates Javier Milei and Patricia Bullrich indicate they would withdraw the approved application for BRICS membership, casting serious doubt over likelihood of nation joining group of emerging economies.
DIPLOMACY & FOREIGN POLICY BRICS: meet the six new members 24-08-2023 17:03 The BRICS – Brazil, Russia, India, China and South Africa – have agreed to make Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates full members from January 1, 2024.
FOREIGN POLICY & DIPLOMACY President confirms Argentina's 'historic' admission to BRICS 24-08-2023 11:15 Argentina to join bloc of emerging economies led by Brazil, Russia, India, China and South Africa, confirms Fernández. BRICS leaders also approve accession of Saudi Arabia, Egypt, Ethiopia, the United Arab Emirates and Iran.
MASSA TO STAY ON Government lines up behind Massa ahead of new measures 17-08-2023 19:45 Government lines up behind economy minister as he prepares new measures to ease devaluation.
REACTION TO PRIMARIES IMF sets date for disbursements, backs devaluation 14-08-2023 21:59 International Monetary Fund backs Argentina's devaluation of peso and raising of benchmark interest rates; Spokesperson confirmes August 23 meeting to approve release of funds.
Economy Argentina’s IMF deal is just one hurdle to Massa’s presidential bid 01-08-2023 16:17 Sergio Massa's IMF deal may offer hope for his presidential ambitions, but the divided opposition and economic challenges pose significant hurdles in the upcoming primaries and elections in Argentina.
Economy IMF to loan Argentina as much as US$10.8 billion this year 31-07-2023 16:08 The International Monetary Fund has agreed to provide Argentina with up to US$10.8 billion in loans as part of a refinancing agreement, allowing the country to navigate its economic challenges ahead of the presidential elections, but meeting the fiscal and reserve accumulation goals will pose significant challenges according to analysts.
As I see it Presidential candidates remain neck-and-neck 28-07-2023 21:09 If the coming crunch is as painful as some predict, will it be enough to make the entrenched political elite decide that the time has come for whoever is in power to apply policies that have worked well enough elsewhere? by James Neilson
PASO primaries Is it Bullrich’s moment or just a polling error? 28-07-2023 20:17 The future is by definition unpredictable, and even close to some of the candidates there is great skepticism regarding what the opinion polls are indicating. by Agustino Fontevecchia
Economy Argentina's public debt reaches a new record above US$400 billion 19-07-2023 18:33 In June, public debt increased by almost US$ 5 billion to US$ 400 billion. Specialists have conducted analyses on sustainability.
Economy Fernández rejects devaluation rumours, asks Massa to stay until year-end 19-07-2023 13:22 Argentina's President Alberto Fernandez cautioned against a sharp currency devaluation due to the country's dollar shortage, while concerns of hyperinflation ahead of the upcoming elections.
MERCOSUR TENSIONS Lula vows to grow Mercosur amid Uruguay flak, Argentina crisis 05-07-2023 11:00 Plans to strengthen and expand the Mercosur trading bloc hit by disagreement among its members over several topics, including Venezuela and free-trade agreements with other markets.
Mercosur summit Argentina, Brazil take aim at EU's environmental trade deal terms 04-07-2023 14:49 Argentina and Brazil slam "unacceptable" EU stance in negotiations with the Mercosur bloc for long-delayed free-trade deal.
MERCOSUR SUMMIT Alberto Fernández shows off support for Sergio Massa at Mercosur summit 04-07-2023 14:34 At the Mercosur summit in Puerto Iguazú, President Alberto Fernández shows off support for Economy Minister Sergio Massa, who secures a host of invitations from foreign leaders. by Rosario Ayerdi
MERCOSUR TENSIONS Uruguay steps up criticism of Mercosur at Argentina summit 04-07-2023 13:56 Uruguay steps up criticism of Mercosur at key summit, saying internal trade barriers are hurting exports to Argentina while the bloc's regulations prevent it from signing an agreement with China.
EU-MERCOSUR TRADE DEAL Argentina calls for ‘updating’ of EU-Mercosur trade deal 03-07-2023 14:44 Argentina's Foreign Minister Santiago Cafiero opens Mercosur summit with call for "updating" of bloc's free-trade agreement reached in 2019 with the European Union.
ELECTION 2023 Massa-Rossi: Unión por la Patria’s unexpected unity formula 30-06-2023 06:58 Argentina’s ruling coalition, after talks between Alberto Fernández and Cristina Fernández de Kirchner, finally opts for unity and no Kirchnerite name on the ticket – with the president choosing the second name on the ticket. by Rosario Ayerdi
MARKET REACTION Investors say Massa optimism offers brief respite 27-06-2023 08:53 Argentine bonds among biggest gainers in emerging markets after the ruling Peronist bloc coalesced around Economy Minister Sergio Massa.
IMF DEBT DEAL Latin America leaders ask Biden to back Argentina in IMF talks 23-06-2023 00:47 Group of Latin American presidents urge US President Joe Biden to support Argentina in ongoing negotiations over its US$44-billion programme with the IMF.
ANALYSIS Latin America's leaders and UNASUR: unity in the midst of divergence 31-05-2023 10:31 Everybody was onboard with unity at the meeting of South American leaders in Brasília, but the presence of Nicolás Maduro caused divergence. by Eleonora Gosman
ECONOMIC WOES Brazil sees Argentina in urgent need of another bailout 30-05-2023 16:30 Lula's economic team considers that Argentina will soon need some sort of additional financial support, though details are not yet finalised.
EU-MERCOSUR TRADE DEAL Lula: Brazil 'will not give in' on public procurement in EU-Mercosur deal 26-05-2023 11:25 Brazilian President Luiz Inácio Lula da Silva declared Thursday that Brazil "will not give in" in talks over the free-trade agreement between Mercosur and the European Union.
ELECTIONS 2023: ANALYSIS Candidate without a ballot: CFK will campaign to ensure transfer of votes 23-05-2023 15:31 Cristina Fernández de Kirchner does not want an extended PASO campaign for the ruling party. In this election, the most important thing is the ‘floor,’ not the ‘ceiling,’ she believes. by Rosario Ayerdi
Bloomberg Lula to send finance minister to China in push for Argentina aid 20-05-2023 08:47 Brazil's push to support Argentina through its economic crisis set to continue in China.
AMCHAM SUMMIT Relief for business leaders as Massa and Rodríguez Larreta charm AmCham 11-05-2023 19:51 Preferred candidates for 2023 election talk up dialogue and air pro-market visions, with talk of alignment with Washington prompting sigh of relief from US business leaders by Ariel Maciel
ECONOMIC INDICATORS Foreign investment has slumped during Fernández presidency 08-05-2023 20:43 Tighter capital controls and economic uncertainty have led to a huge drop in foreign direct investment, according to a private report using Central Bank data.
Alberto in Brazil Argentina and Brazil mull trade credit lines bypassing US dollar 03-05-2023 16:38 Over 200 Brazilian firms eye exporting in reais, not dollars; Lines would lift exports to Argentina amid its currency crisis.
Foreign relations Lula says he’s started talks with BRICS bank to help Argentina 03-05-2023 08:16 Lula offers strong support for Alberto Fernández after four-hour meeting in Brasília, confirming talks on financing for Brazilian exports and declaring that International Monetary Fund needs to "remove its knife from Argentina's neck."