News of luis caputo

Nobody wins

14-09-2024 06:37 Milei risks his popularity with insensitivity towards pensioners in the name of maintaining a fiscal surplus.

ECONOMY – ANALYSIS

Argentina posts slightly higher than expected August inflation

11-09-2024 17:01 Argentina’s monthly inflation rose slightly above expectations in August, representing a setback for President Javier Milei.

ECONOMIC INDICATORS

Inflation rises slightly to monthly 4.2%, dashing government hopes

11-09-2024 16:43 Prices have increased 94.8% in Argentina since the turn of the year, according to official data; Consumer price hikes at monthly 4.2% – slight rise on the preceding month and above government forecast of 4%.

OFFICIAL FORTUNES

Official fortunes: New minister’s statement shakes up Milei Cabinet rich list

03-09-2024 12:14 Argentina’s new Deregulation & State Transformation Minister Federico Sturzenegger’s sworn affidavit places him as the fourth-richest member of Javier Milei’s Cabinet. President now ranks seventh on a list topped by Foreign Minister Diana Mondino.

ECONOMY & FINANCE

Argentina ships gold bars abroad to be financially certified

02-09-2024 20:30 Argentina’s Central Bank sent part of its gold reserves abroad in recent weeks to be validated for financial use.

FIGHT AGAINST MONEY-LAUNDERING

Argentina at risk of falling onto FATF money-laundering ‘grey list’

31-08-2024 05:54 President Javier Milei wants to introduce a ‘blanqueo’ whitewash amnesty for undeclared assets. But his plan could see Argentina fall foul of the Financial Action Task Force money-laundering watchdog. RIGI multi-billion dollar investment incentive scheme is also under scrutiny.

by Ariel Maciel

EDITORIAL

Libertarian entrapment

31-08-2024 05:21 The paradox of a libertarian government revering the free market while unable to exit bureaucratic Kirchnerite capital controls has already drawn comment but the reduction of the PAIS tax exposes another contradiction.

ECONOMIC POLICY

Caputo confirms that PAIS tax will be cut next week

28-08-2024 23:37 Goverrnment to lower 'Impuesto PAIS,' key import tariff, to cool inflation; Economy minister says cuts will begin for imports and freight cargo with reduction beginning next week.

ECONOMY – ANALYSIS

Milei lowers key import tariff to cool inflation

28-08-2024 10:35 Economy Minister Luis Caputo announces government will lower levy known as 'PAIS tax' from 17.5% to 7.5%.

Editorial

Inflation down on its all fours?

17-08-2024 05:39 The main obstacle to zero inflation is zero certainty as to the future.

POLITICS

Milei again rules out devaluation of peso in Council of Americas speech

14-08-2024 18:20 President Javier Milei defends his government and rules out devaluation of the peso in speech at a Council of the Americas forum.

POLITICS

City transport subsidies source of conflict between Milei and Jorge Macri

06-08-2024 16:41 While the revenue sharing distribution row is being solved, tensions look set to enter a new chapter with a dispute building over the removal of bus subsidies from 31 bus lines in the capital.

by Ezequiel Spillman

POLITICS

Caputo rejects criticism for having money abroad

22-07-2024 15:58 Argentina's economy minister pushes back on claim he asked people to sell their dollar savings in order to pay taxes.

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.

BEYOND THE HEADLINES

No economising economists

13-07-2024 07:44 The atomisation of economic thinking prevails far beyond the ministerial level in Argentina.

by Michael Soltys

IMF ON ARGENTINA

IMF denies there is ‘specific timetable’ for new Argentina deal

11-07-2024 16:48 Julie Kozack, the Fund's communications director, contradicts claims by Economy Minister Luis Caputo that talks about new financing deal are underway and an agreement could be sealed this year.

ECONOMY & POLITICS

Argentina officials move to shore up bank support for debt plan

01-07-2024 15:35 Economy Minister Luis Caputo and Central Bank Governor Santiago Bausili sought to shore up support Monday in a meeting with executives from private banks for a monetary policy pivot announced late Friday.

MONETARY POLICY

Milei shifts policy in second phase of Argentina plan

29-06-2024 15:30 Milei administration embarks on second phase of economic plan, announcing it will swap out notes held at the Central Bank for new Treasury debt.

POLITICS – ANALYSIS

Turning-point or anarcho-capitalist illusion?

22-06-2024 05:52 The outsider – who by definition was politically weak – is proving to be more resilient than his more traditional peers. Milei’s emergence in Argentina’s political ecosystem already marks a turning-point.

by Agustino Fontevecchia

POLITICS & ECONOMY

Caputo’s number two at Economy Ministry quits government

17-06-2024 16:09 Economic Policy secretary Joaquín Cottani resigns for personal reasons; Likely replace is Argentine-born Chilean economist José Luis Daza, who worked with Luis Caputo at JP Morgan and Deustche Bank.

POLITICS – ANALYSIS

Javier Milei and a tale of two Caputos

15-06-2024 06:20 President Milei’s administration has inaugurated a novel political dynamic in Argentina: unleashing an attack against their adversaries, almost breaking down any possibility of collaboration, before agreeing at the last second to concessions.

by Agustino Fontevecchia

INTERNATIONAL MONETARY FUND MEET

Milei to meet IMF chief during Argentina’s push for new programme

12-06-2024 23:06 President Javier Milei will meet face-to-face with the head of the International Monetary Fund in Italy this week as Argentina pushes for a new programme.

NEW IMF PROGRAMME?

Caputo says Argentina will seek new IMF programme to exit 'cepo'

11-06-2024 12:57 Economy Minister Luis Caputo says President Milei’s government intends to “negotiate a new programme” with the International Monetary Fund that will allow Argentina to remove currency controls.

POLITICS

Milei proclaims ‘change of era’ in Córdoba speech marking national holiday

26-05-2024 10:16 President Milei heads to Córdoba to mark his first 25 de Mayo anniversary as head of state; Head of state praises ‘rock star’ Luis Caputo in speech following event in Buenos Aires, announces new ‘May Council’ and vows tax cuts.

IMF DEBT PROGRAMME

Milei wins IMF staff support to unlock US$800 million

13-05-2024 12:07 IMF staff sign off on eighth review of Argentina’s US$44-billion programme, endorsing President Milei’s shock therapy programme and freeing up access to nearly US$800 million.

INTEREST RATES

Central Bank cuts rates to 50% as Milei wrestles inflation down

02-05-2024 14:04 Central Bank cuts key interest rate for the third time in three weeks as officials bet on a sustained slowdown in consumer prices.

ECONOMIC OUTLOOK

Milei’s team sees inflation slowing faster than economist survey

24-04-2024 12:04 President Javier Milei’s economic team sees monthly inflation slowing much faster this year than analysts anticipate.

POLITICS & ECONOMY

'The last stretch': Milei praises 'heroic' effort in prime-time address

22-04-2024 22:08 President uses prime-time broadcast to highlight first quarterly budget surplus since 2008. "This is the last stretch of a heroic effort," Milei tells nationwide.

POLITICS & ECONOMY

How Milei and Caputo achieved Argentina's twin surpluses

22-04-2024 15:34 ‘Chainsaw’ and ‘blender’ plans pay off for Milei in much-improved fiscal figures for first quarter, as Argentina his government reporting a primary surplus and positive trade balance.

POLITICS & ECONOMY

Caputo looks for funds for Argentina in Washington

19-04-2024 00:07 Economy Minister Luis Caputo is on the search for funds in Washington, seeking the US$15 billion President Javier Milei says Argentina needs to remove currency controls.

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.

BLOOMBERG

Caputo speech at JPMorgan event helps propel Argentine bonds

18-04-2024 13:18 Argentina won’t lift capital controls until international reserves are high enough to safeguard against a potential currency run, Luis Caputo tells investors.

HEALTH & ECONOMY

Government intervenes to halt private health scheme price surge

17-04-2024 17:21 Free-market Milei administration uses state power to challenge firms and announces most prepaid health schemes are rolling back runaway price increases; "The Argentina of wise guys is over," declares presidential spokesman Manuel Adorni.

POLITICS – ANALYSIS

Emperor of the Argentine Republic?

23-03-2024 06:32 In a country obsessed with dark priests that roam Government House with differing levels of influence on the upper echelons of the political class, Santiago Caputo has walked into his role perfectly.

by Agustino Fontevecchia

More hikes on way

Gas prices set to rise sharply as Energy Secretariat prepares to trim subsidies

13-03-2024 17:48 Sources in Energy Secretariat anticipate new rates will be disclosed in next week; Energy companies have asked for rises above 500%.

DEBT SWAP OFFER

Milei notches win as Argentina completes US$50-billion debt swap

13-03-2024 10:48 Government successfully swaps about 77% of peso debt due this year for longer-dated notes in the largest domestic debt rollover in Argentina’s history.

AMCHAM SUMMIT

Caputo: Argentina 'just starting talks' with IMF over new programme

12-03-2024 20:26 "They always said that they were open to a new programme," economy minister tells business leaders at AmCham 2024 summit.

CLEAR WAY FOR IMPORTS

Milei government opens up food imports in bid to curb price hikes

12-03-2024 12:38 Argentina’s government orders full opening of food imports in an attempt to curb an inflationary spike and introduce more “competitive” prices.

Options for peso bonds

Argentina hinders debt swap by not offering puts on peso bonds

12-03-2024 12:23 Central Bank isn’t offering put options for peso bonds the government is selling this week in a record debt swap.

MARKETS

Argentina seeks breathing room with peso swap worth US$65 billion

11-03-2024 11:46 Government starting a record swap of peso-denominated debt Monday in a bid to roll over almost all of its 2024 maturities into the next four years.

ANALYSING ARGENTINA

Are two Caputos one too many for Milei?

02-03-2024 05:25 Foreign observers and investors welcome that Milei is a man on a mission to turn Argentina into a more open, more pro-market economy … but they don’t like conflict as the end itself, nor the Casa Rosada’s unwillingness to compromise.

by Marcelo J. Garcia

POLITICS

US Treasury boss, IMF chief offer praise for Caputo, Milei

29-02-2024 16:40 President Javier Milei’s government has taken “important steps” since taking office, declares US Treasury Secretary Janet Yellen during meeting in São Paulo

IMF DEBT PROGRAMME

Argentina, IMF talking about new programme outline

29-02-2024 12:20 Argentina, IMF in talks about outline of possible new programme to speed up exit from capital controls.

ANALYSIS

Economy shrank in December by most since pandemic

22-02-2024 21:14 Argentina’s economy contracted in December by the most since the peak of the Covid-19 pandemic.

ARGENTINA IN CRISIS

Milei’s ‘no money’ slogan put to the test – but is there patience?

22-02-2024 16:46 Enthusiasm abroad for Javier Milei's presidential project is not matched by growing unrest on the streets of Buenos Aires.

ANALYSIS

Milei’s ‘maquinita’ – How many pesos is Central Bank printing?

22-02-2024 15:31 Since Javier Milei entered the Casa Rosada as president, Argentina’s monetary authorities have continued minting the national currency – while altering its destination. Why is there talk of the "benign" printing of money?

by Martín Fernández Nadale

IMF DEBT PROGRAMME

IMF number two in BA for talks as social unrest grows

21-02-2024 18:21 Deputy managing director of the International Monetary Fund, Gita Gopinath, begins two-day visit by meeting for four hours with key government officials.

ECONOMIC INDICATORS

Argentina sees first monthly budget surplus in 12 years

18-02-2024 11:46 Argentina recorded first monthly budget surplus in nearly 12 years in January, the Economy Ministry says in a statement.

ECONOMY & POLITICS

Fernández de Kirchner reappears with economic critique of ‘showman’ Milei

15-02-2024 15:09 Former president shares an analysis of the “third debt crisis” facing Argentina and accuses La Libertad Avanza leader of implementing “ferocious austerity programme.”