Poverty and destitution in Argentina have seen a notable decline over the past year; however, the current levels still exceed those reported by official statistics, according to a credible watchdog. A report released on Thursday by the Social Debt Observatory of the Argentine Catholic University indicates that poverty was recorded at 36.3 percent, while extreme … Read more
The administration of Javier Milei has been instructed by the International Monetary Fund to increase its foreign reserves. This comes with the acknowledgement that Argentina will face “difficulties” in meeting its year-end accumulation target. Julie Kozack stated, “At this stage, meeting the end year reserve target will be challenging. Nevertheless, it is of the utmost … Read more
Argentina is in discussions with banks regarding a potential loan of up to US$7 billion, as stated by Economy Minister Luis Caputo on Wednesday, in light of decreasing international reserves and upcoming debt obligations in January. During an event featuring prominent business leaders, the official discussed negotiations amounting to between US$6 billion and US$7 billion … Read more
President Javier Milei’s forthcoming labor reform initiative is rekindling enduring conflicts between the nation’s banking institutions and its rapidly expanding financial technology platforms. In a notable shift, salaried employees may have the option to direct their paychecks into either a virtual wallet or a traditional bank account, as indicated by an informed source. At present, … Read more
Argentina’s Southern Energy, a consortium comprising PAE, YPF, Pampa Energía, Harbour Energy, and Golar LNG, has finalized a strategic agreement with the German state-owned energy firm Securing Energy for Europe to supply 2 million metric tonnes of LNG annually over eight years beginning in late 2027. This agreement marks Argentina’s largest-ever LNG export deal in … Read more
Banks in Argentina experienced their most challenging outcomes since the pandemic, coinciding with President Javier Milei’s aggressive efforts to stabilize the currency ahead of the midterm elections. Private banks suffered losses in the third quarter alongside a significant rise in the nation’s loan delinquency rate — now at its highest point in over 15 years … Read more
Southern Energy, the society pooling the energy companies selling Vaca Muerta liquefied natural gas to the world, has signed a historic framework agreement with the international German company Securing Energy for Europe to supply natural gas to Europe. The agreement encompasses an annual volume of two million tons, indicating that nearly the entire capacity of … Read more
Reports indicate that the European Union is anticipated to cast its vote in mid-December regarding the extensively negotiated trade agreement with Mercosur, the South American bloc that includes Argentina. The European Commission, serving as the executive body of the EU, is urging member states to approve the agreement prior to the forthcoming Mercosur summit scheduled … Read more
Having dedicated the first half of his term to a successfully maintained and electorally vindicated consolidation of a fiscal surplus, President Javier Milei identifies a primary challenge for the second half as positioning Argentina on a sustained growth trajectory. He benefits from a recent electoral mandate that facilitates consensus-building, a weakened opposition facing an ongoing … Read more
Argentina and Poland are nearly “a perfect match” and ought to leverage the prevailing global tensions to enhance cooperation and increase trade, according to the deputy foreign minister of the European nation. “As global unpredictability increases, conflict looms at Poland’s threshold. Global trade is experiencing notable shifts and emerging threats, with Poland and Argentina positioned … Read more