POLITICS & ECONOMY Milei’s shock therapy ignites ‘brutal’ income inequality 20-07-2024 18:44 President Javier Milei’s economic overhaul is driving up income inequality in Argentina, testing just how much “shock therapy” his constituents can bear.
INTERVIEW / PERIODISMO PURO Andrés ‘Cuervo’ Larroque ‘We are in one of the deepest crises in Peronism’s history’ 19-07-2024 06:17 Andrés Larroque, Community Development minister for Buenos Aires Province, reflects on the crisis facing Peronism, his links to La Cámpora and President Javier Milei’s government. by Jorge Fontevecchia
EDITORIAL Between Tucumán and Asunción 13-07-2024 07:44 President Milei’s decision to skip the Mercosur summit does more to compromise Argentina’s future than his photograph and 10-point pact does to advance it.
POLITICS – ANALYSIS Milei the preacher 13-07-2024 07:24 For now, President Milei retains his popularity, but it seems as if the model is beginning to run out of steam. by Agustino Fontevecchia
POLITICS & ECONOMY Milei dials back shock therapy to keep Argentina’s inflation in check 12-07-2024 12:44 President Javier Milei is tapping the brakes on his shock therapy programme in a bid to hold on to popular support amid Argentina’s bleak economic reality.
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.
POLITICS & ECONOMY Milei talks unity but shows up division with ‘symbolic’ pact 09-07-2024 15:52 President Javier Milei hails “symbolic of a change in era” as he inks his ‘Pacto de Mayo’ with 18 regional leaders at midnight ceremony in Tucumán. But amid a patriotic show of unity, his tone and absences highlight division. by James Grainger
POLITICS Sturzenegger preparing laws to slash bureaucracy and ‘obsolete’ regulations 08-07-2024 17:19 New Deregulation & State Transformation Minister Federico Sturzenegger outlines his objectives for his new portfolio and says he will send Congress a ‘leaf litter law’ that will slash government regulations.
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
POLITICS & ECONOMY Sturzenegger appointed ‘deregulation and state transformation’ minister 05-07-2024 15:51 Months after his appointment was first trailed, Federico Sturzenegger finally joins Milei administration as Deregulation & State Transformation minister; Ex-governor of Central Bank, who was sworn into office on Friday, has had a key role behind the scenes up until now, drafting bills and decrees.
POLITICS Tussle for Peronist protagonism clashes with calls for unity 05-07-2024 15:27 Former presidential candidate Sergio Massa will break his silence on the first Saturday of August with criticism of Javier Milei’s government. Buenos Aires Province Governor Axel Kicillof continues to raise his national profile, with next year’s battles being brought forward. by Rosario Ayerdi
CABINET APPOINTMENT Milei taps former Central Bank chief to deregulate Argentina 05-07-2024 13:43 Federico Sturzenegger will lead a new Deregulation & State Transformation Ministry in President Javier Milei's government.
ECONOMIC INDICATORS Social indicators cast doubt over Milei's 'catastrophe' averted claim 04-07-2024 13:09 President Javier Milei recently stated that the government’s social policy is “extremely good” and it had help prevent a “catastrophe.” Yet the government's own data and reports produced by private institutions indicate most social indicators have recorded a step backwards since he took office. by Agustina Bordigoni
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.
ECONOMIC POLICY Milei says he would slow crawling peg if inflation cools further 01-07-2024 12:10 President Javier Milei says peso could weaken at a slower pace if inflation cools to a certain level.
JUSTICE SYSTEM & PRISONS Milei slashes budget for legal centres in favour of prison spending 29-06-2024 04:25 Argentina’s Justice Ministry announces closure of 81 Centres of Access to Justice nationwide; Milei government boosts budget for the ‘Criminal Policy’ programme by 963% in move to “modernise Penitentiary Service” and “improve the situation of persons deprived of liberty." by Agustina Bordigoni
PRESIDENT'S FAMILY Bus firms part-owned by Milei’s father received huge state subsidies 25-06-2024 14:10 Journalistic report discovers state gave US$33 million to Norberto Milei’s transport companies in subsidies between 2005 and 2007. After selling his shares, he gifted assets to his children.
ECONOMIC INDICATORS INDEC reports 5.1% Q1 slump in GDP, unemployment on rise 24-06-2024 20:58 Argentina's economy contracted by 5.1% in first quarter, says INDEC; Unemployment hit 7.7% as Milei government’s austerity measures began to kick in.
ECONOMIC INDICATORS Milei’s austerity plan pushed Argentina into recession in first quarter 24-06-2024 17:42 Gross domestic product fell 2.6% compared to the fourth quarter of 2023, according to official government data published Monday. Activity contracted 5.1% from a year earlier.
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.
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
ANALYSING ARGENTINA Milei’s future: back to the past? 22-06-2024 05:01 While it is crucial for the government to attract investments from various sources, the nature of the country’s insertion in the global economy will depend on Milei’s alliances. by Marcelo J. Garcia
Foreign relations & diplomacy Milei's first Germany visit scaled back at government's request 21-06-2024 19:02 Javier Milei's inaugural visit as Argentine president to Germany at the weekend has been scaled back, with military honours and a press conference cancelled, Berlin said Friday.
POLITICS & ECONOMY Congress win pressures Milei to deliver on economic promises 21-06-2024 06:12 Javier Milei’s win in Congress has started the clock ticking. Argentina’s president needs achievements to convince a society that is impatient for economic change that better times are around the corner.
POLITICS & CONGRESS Milei one step closer to ‘superpowers’ after Senate approval 20-06-2024 09:33 Argentina’s Senate last week approved the article permitting President Milei to co-legislate in a broader and less defined sense than granted to any of his predecessors. What the “superpowers” to legislate are and what the prerogatives delegated by Congress imply. by Cecilia Degl'Innocenti
POLITICS & ECONOMY Milei moves to replace previous government’s plan for public works 18-06-2024 16:14 Executive Branch draws up guidelines to review ongoing works and assess their continuity and control; Plan put in place by previous government, led by Alberto Fernández, to be ended.
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.
IMF ANALYSIS Argentina to move real rates to positive territory, IMF says 17-06-2024 14:57 IMF expects Argentina to take real interest rates into positive territory and ease currency controls in coming months.
ECONOMIC OUTLOOK IMF downgrades Argentina's economic outlook for 2024 17-06-2024 12:39 International Monetary Fund downgrades estimate, forecasting that the economy will contract by 3.5% this year.
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
MONETARY POLICY Central Bank to hold talks over risks from bond puts 14-06-2024 17:18 Argentina’s Central Bank is in talks with executives at commercial banks to reduce the overhang of puts on sovereign peso debts.
CONGRESS & POLITICS Milei’s bill clears Senate, capping off week of wins 13-06-2024 19:01 Government eyes end of month lower house session for President’s flagship ‘Ley de Bases’ reform bill and accompanying fiscal package; Victory in upper house comes after chaotic scenes outside Congress.
CONGRESS VIOLENCE Officials slam ‘coup’ attempt after Congress clashes 13-06-2024 15:07 President Milei, Patricia Bullrich and Manuel Adorni accuse violent demonstrators of seeking to overthrow government in a "modern coup d'état."
Church vs Sandra Priests pressure Pettovello, government on social policies 13-06-2024 09:09 Criticism from Church leaders picks up amid increased tensions over lack of food supplies at soup kitchens and community canteens.
CONGRESS & POLITICS Milei gets partial win on reform bills after protests 13-06-2024 00:48 President Milei‘s signature reform package eked out preliminary approval in the Senate, but its most important fiscal measures face strong opposition in a piece-by-piece vote.
CURRENCY SWAP Central Bank says China currency swap renewed until July 2026 12-06-2024 22:26 Central Bank renews a roughly US$5-billion portion of its currency swap line with the People’s Bank of China for another two years.
Congress & Politics Senate begins debate on Milei’s ‘Ley de Bases’ mega-reform bill 12-06-2024 12:15 Senators open debate on President Javier Milei's flagship 'Ley de Bases' reform bill as demonstrations begin outside Congress.
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.
MARKETS Argentine bonds, peso tumble as Wall Street gets a reality check 10-06-2024 12:29 Argentine assets are sliding as lawmakers kick back against President Javier Milei’s package of pro-market reforms.
Analysing Argentina Re-election for Milei will require recalibration 08-06-2024 05:56 Investors, domestic and abroad, continue to have hopes that Milei will deliver … They are suddenly seeing red flags everywhere. by Marcelo J. Garcia
As I see it The country needs a proper civil service 08-06-2024 05:36 Rather than merely slimming down a pathologically obese public sector, it would be far better to concentrate on greatly improving its quality. by James Neilson
POLITICS – ANALYSIS The political commissar, the sister and President Milei’s only friend 08-06-2024 05:32 With the expulsion of Nicolás Posse, Santiago Caputo becomes the only non-family member with a say in President Javier Milei’s inner circle. by Agustino Fontevecchia
POLITICS Frente Joven: Catholic group gains influence in Milei’s government 07-06-2024 17:25 Members of the Catholic group Frente Joven, which raised its profile during the push to legalise abortion in Argentina, are gaining posts in Javier Milei’s government. Posts in the Cults Secretariat, the Human Capital Ministry and Congress. How the scandal of Sandra Pettovello and Pablo de la Torre relates. by Giselle Leclercq
POLITICS Officials close ranks behind Pettovello as pressure builds 06-06-2024 20:51 Leading figures in government close ranks behind embattled Human Capital Minister Sandra Pettovello; President Milei backs ‘best minister in history’ as foodstuffs scandal rumbles on.
WOMEN'S RIGHTS Milei government shutters office dedicated to prevention of gender violence 06-06-2024 17:43 Three days after annual Ni Una Menos march, head of programme dedicated to protection against gender violence announces she is stepping as President Milei moves to shutter department.
EXPIRED FOOD SCANDAL Expired food scandal: a chronology of hunger which the government sought to silence 06-06-2024 14:41 Human Capital Ministry’s missteps over more than millions of kilos of food held back at warehouses has exploded into scandal. Audits galore, dismissals, denunciations and an official communiqué overtaken by the facts.
Congress & Politics Senate poses fresh challenge to Milei’s reform bills 05-06-2024 23:26 Opposition senators are pulling together the votes to reject bids to reintroduce income taxes, expand powers and privatise state-owned companies.
CONGRESS & POLITICS Milei vows veto as deputies approve new pension formula 05-06-2024 10:20 Deputies rebel against government, voting 160-72 in favour of new formula to update pensions; President immediately vows to strike down bill should it clear Senate.
POLITICS Milei names X user ‘Juan Doe’ as his digital communications director 04-06-2024 17:05 The position of Juan Pablo Carreira, a renowned libertarian activist, was finalised through a decree signed by the President and Cabinet chief Guillermo Francos.
As I see it The greatest show on earth 01-06-2024 05:56 Milei is playing the leading part in an imaginative cosmic drama he himself dreamed up in which, backed by heavenly forces, he battles the leftist foes of everything that is good. by James Neilson