MONETARY POLICY Argentina to sell dollars in parallel FX market to shore up peso 14-07-2024 09:31 Central Bank will sell US dollars in the country’s parallel foreign exchange markets starting Monday, says Economy Minister Luis Caputo.
IMF TALKS? Argentina: No ‘formal’ talks with IMF over fresh funds 10-07-2024 18:18 Presidential spokesman Manuel Adorni says that “there are talks” ongoing but that no “formal negotiations” over a specific funding programme to help the nation remove currency controls are ongoing.
POLITICS – ANALYSIS Milei under pressure for the first time 06-07-2024 05:59 If the doubts regarding Milei’s capacity to preside over Argentina were tied to governability risk, Caputo’s are connected to credibility risk: it’s difficult to see how the current policy framework can be sustainable in time. by Agustino Fontevecchia
UNREST IN BOLIVIA Growing discontent amid dollar, fuel shortages in resource-rich Bolivia 03-07-2024 10:58 Along with the fuel shortage in Bolivia, which tends to be chronic due to economic problems in imports, there is also a lack of dollars in the country and, consequently, an increase in the exchange rate in the parallel market.
POLITICS & ECONOMY Milei says legislative win paves way for monetary policy pivot 28-06-2024 13:56 President Milei says government will change its monetary policy framework following his first major legislative victory.
AGRICULTURE & ECONOMY Argentina has surplus harvest, but farmers want more from Milei 22-06-2024 09:03 Farmers are delaying agricultural sales as they wait for President Javier Milei to eliminate taxes and exchange barriers.
CEPO NO MORE? Milei attacks ‘loudmouth’ critics as he denies peso-dollar lag 15-05-2024 16:31 President attacks "loudmouth" economists critical of his exchange rate policy, defends economic programme and says Argentina is "very close" to removing currency controls.
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.
RELATIONS WITH CHINA Central Bank chief Bausili among top officials headed to China 18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.
FINANCE Milei seeks US$15 billion for removal of currency controls 18-03-2024 11:24 President Javier Milei says he would open up restrictions on foreign currency immediately if he has US$15 billion; Money could be provided by the IMF, multilateral bodies, private investors and even “some countries."
APPETITE FOR FOREIGN CURRENCY Dollar fever eases in Milei’s Argentina... good news? 11-03-2024 16:25 Appetite for dollars in Argentina as a shelter against inflation is falling under Milei’s government, but what from afar looks encouraging, smells of recession, declining imports and falling incomes.
FOCUS ON VENEZUELA Venezuela calls in oil debt it once traded away for literal beans 26-02-2024 10:56 Impoverished and desperate for cash, Venezuela is trying to collect old debts from the Petrocaribe oil exchange programme.
Exchange rate woes Investors bet Argentina crawling peg to speed up to 6% by April 22-02-2024 11:34 Investors see Argentina's crawling peg accelerating to six percent monthly by the start of the second quarter, according to peso futures data.
Economy Why the Argentine peso is slipping through Milei’s fingers 18-01-2024 23:30 Despite Javier Milei's best efforts, the gap between blue and official rates remains, and the peso has plunged by about a third against the dollar this year.
FOREIGN EXCHANGE ‘You are now free to buy dollars’ – Milei legalises trading at parallel exchange rate 21-12-2023 17:44 President asserts that “buying the 'blue' dollar is no longer a crime” as he legalises operations in 'cuevas,' or foreign exchange houses.
EMERGENCY MEASURES The 10 ‘emergency economic measures’ announced by Caputo 12-12-2023 21:42 Economy Minister Luis Caputo announced the devaluation of the peso by over 50 percent to the dollar, as Javier Milei's new government seeks to tackle the country's deep economic woes.
DOLLAR Fernández leaves with 'blue dollar' close to 1,000 pesos a dollar 07-12-2023 16:54 Argentina's president departs the Casa Rosada having overseen large devaluations in the official and unofficial exchange rates. by Ramiro Speranza
DEVALUATION FEARS Investors bet on 44% peso devaluation after Milei’s debut 06-12-2023 15:05 Investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration.
MARKETS Argentina's stock market react with optimism to Milei election 21-11-2023 16:58 Stock market opens up by around 20% before easing off to gains of about 14% – strong reaction to election of new president-elect.
AGRICULTURE & ECONOMY Argentina running out of soy adds to next president’s economic woes 16-11-2023 19:05 After the worst drought in six decade, farmers are running out of the very commodity that fuels Argentina’s economy.
DEVALUATION Argentina begins daily micro-devaluations, days from run-off 16-11-2023 12:36 Four days out from the presidential run-off, Argentina's Central Bank begins micro devaluations of the peso.
CROSS-BORDER SHOPPING Uruguayans pile into Argentina to spend record US$1 billion 30-10-2023 11:11 Uruguayans are taking advantage of Argentina's deep economic crisis with food, vacations and shopping costing a fraction of the price back home.
Bloomberg Sergio Massa threatens to cut fuel exports amid shortage 30-10-2023 08:21 “If the fuel supply is not resolved by midnight on Tuesday, companies will not be able to send out export ships starting on Wednesday,” Massa tells reporters in Tucumán Province.
BLOOMBERG – ANALYSIS Recession, inflation, devaluation: Economic troubles in 5 charts 19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.
MARKETS Argentina ETF sees biggest outflow since 2021 ahead of election 19-10-2023 13:36 An exchange-traded fund that tracks Argentine stocks saw its biggest outflow in more than two years ahead of this weekend’s presidential vote.
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.
'CEPO' ON WAY OUT? Baffling Argentina FX rates on borrowed time as election nears 17-10-2023 16:02 The hodgepodge of currency controls put in place in Argentina is likely in its last days.
ELECTION 2023 Debt, inflation and the peso: Argentina's election worries 17-10-2023 12:27 As Argentines head to the polls on October 22 for a crucial presidential election, candidates have campaigned hard on proposed elixirs for the country's economic ills.
INTERVIEW / PERIODISMO PURO Carlos Melconian: ‘I believe that there is an opportunity because we have touched bottom’ 14-10-2023 05:53 Famous for being the “king of metaphor,” Carlos Melconian will be Argentina’s next economy minister if Patricia Bullrich wins the upcoming election. In an extensive interview he explains his integral plan for putting Argentina back on its feet. by Jorge Fontevecchia
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.
DOLLAR Government unifies rates on dollar purchases abroad 10-10-2023 15:21 Qatar, solidary and card dollar rates unified via AFIP resolution; Cost of accessing dollars for these types of purchases now reaches 100%. Which transactions will it affect?
CURRENCY WOES Argentina’s black market peso rate tops 1,000 per dollar 10-10-2023 15:10 Argentina’s black market exchange rate hit a record 1,040 pesos per dollar Tuesday, continuing a sharp sell-off before the October 22 presidential election.
CURRENCY WOES 'Blue dollar' hits 1,000 – pre-election jitters send peso to new lows 10-10-2023 12:25 Argentina's parallel 'blue dollar' broke through the symbolic 1,000-peso mark in parallel markets on Tuesday as citizens scrambled to dump the currency.
FOREIGN EXCHANGE ‘Blue’ dollar soars – parallel exchange rate nears 900/greenback 06-10-2023 16:18 Movement of people and companies trying to dollarise is being felt given the proximity to the presidential election as exchange rate turbulence continues.
Bloomberg Peso tumbles with dollarisation rush amping up before vote 05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.
TRADE WOES Record trading debt: SMEs at risk of default 23-09-2023 05:13 Import debt has reached US$38 billion. Argentina’s small and medium-sized businesses (SMEs or PyMEs) face an increasing number of difficulties in paying suppliers due to restrictions to access the foreign exchange market. by Ludmila Di Grande
ELECTION 2023 Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite 20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.
CROSS-BORDER SHOPPING Border-crossing Uruguayans enjoy bargain shopping in Argentina 11-09-2023 07:42 Faced with the constant devaluation of Argentina's peso, thousands of Uruguayans cross bridges to the neighbouring country every day to take advantage of cheaper goods and services.
DOLLARISATION ON THE CARDS? Argentina’s dollarisation is a ‘bad idea’, top economists say 07-09-2023 13:13 Dollarising Argentina’s economy — as proposed by presidential candidate Javier Milei — is a bad idea that will do little to solve the country’s long-standing fiscal problems, three of Latin America’s most-renowned economists said.
DOLLARISATION ON THE CARDS? Milei in talks to win foreign financing to dollarise economy 07-09-2023 12:51 Javier Milei is in talks with investment funds abroad to obtain the foreign currency needed to dollarise the economy if elected later this year, reveals top adviser Diana Mondino.
BLOOMBERG - OPINION Eduardo Porter: Argentina's dollarisation is a dangerous delusion 06-09-2023 11:08 Instead of hoping for a deus ex machina to restore macroeconomic stability, Argentines should strive for political institutions that reach the agreements every healthy economy needs.
AGRICULTURE & ECONOMY 'Soy dollar' back with 25% foreign currency available to exporters 05-09-2023 12:17 Fifth edition of the 'Export Increase Programme' this time does not include unique exchange rate; Applies to exporters from last 18 months; Details of the new decree and the sector's reaction.
FINANCIAL TURBULENCE Financial turbulence: ‘Dólar blue’ hits 600 per greenback 09-08-2023 21:35 Parallel exchange rate passes psychological barrier of 600 pesos per dollar in lead-up to this weekend’s PASO primaries.
ELECTIONS 2023 Bullrich would remove FX controls with IMF's help, says Laspina 07-08-2023 08:34 Opposition presidential hopeful would seek greater support from the IMF to untangle currency controls as soon as possible if elected this year, according to top economic adviser Luciano Laspina.
INFLATION WOES Beef prices to pour more fuel on 116% inflation 07-08-2023 08:28 Decision to temporarily weaken the exchange rate for corn exports — designed to spur shipments abroad — has bumped up domestic feed costs. Now beef prices are set to soar in the coming months.
ELECTION 2023 Rodríguez Larreta plans spending cuts to help peso 13-07-2023 15:51 Juntos por el Cambio presidential hopeful plans to cut spending by 4% of GDP; Move intends to allow peso to weaken gradually to level between official and parallel rates, reveals Lacunza.
Agriculture Drought slashes 2022/2023 soybean production by 51.5% 04-07-2023 16:56 Impact of punishing drought on Argentina’s crops laid bare as new report reveals soybean production came in at 21 million tons – less than half of last year’s harvest.
BUENOS AIRES & BEIJING China allows Argentina to spend up to US$10 billion of currency swap line 02-06-2023 13:20 Chinese officials approve Argentina tapping up to 70 billion yuan (US$9.89 billion) of currency swap line, double the previous limit, according to a Central Bank statement.