Argentina is facing the prospect of an impending recession. Since April, the economy has exhibited a persistent lack of recovery, with declines in consumption and production now impacting the labor market. Suspensions are on the rise, and conflicts are escalating. Official data indicates that June recorded the highest number of layoffs in the past nine … Read more
The International Monetary Fund provided support to President Javier Milei, noting Argentina’s economic “progress” and encouraging the government to maintain its current direction. “We see the important progress in lowering inflation, leading to monthly price rises of less than two percent for the fourth month in a row,” stated IMF Spokesperson Julie Kozack. Just days … Read more
Argentine energy director Daniel González believes this technique can handle short-term political issues. Argentina’s goal is to entice investors to support the development of shale oil and gas infrastructure. Within the past two years, President Javier Milei has implemented a number of market-oriented measures that have made it possible for shale producers and transporters to … Read more
President Javier Milei’s government unexpectedly let the peso drop this week, while also taking steps to stop a mass exit from the currency that could spark inflation again. Last week, the government spent about US$100 million each day to support its falling currency before an important provincial election. Now, the Treasury has reduced dollar sales … Read more
A chartered flight transporting 17 Argentines who were deported from the United States arrived at Ezeiza International Airport during the early hours of Thursday morning, following layovers in Colombia and Brazil. The Boeing 767-300, under the operation of Omni Air International for the US Department of Homeland Security, made its landing at approximately 3am. The … Read more
Officials from the International Monetary Fund were aware beforehand that the Argentine Treasury would take action in the foreign exchange market, as stated by Julie Kozack during a press conference on Thursday. Kozack also reiterated the necessity of accumulating reserves via transparent mechanisms. “We have continued to underscore the significance of a transparent, consistent, and … Read more
Argentina successfully refinanced nearly all of its imminent local maturities during a debt auction on Wednesday, providing a temporary relief for President Javier Milei following a significant defeat for his party in the local elections held on Sunday. Milei’s administration successfully rolled over over 91 percent of peso-denominated notes that were due, managing to sell … Read more
In the wake of a significant electoral setback and subsequent market anxieties, the President maintains that his economic reform agenda will proceed without alteration. President Javier Milei has committed to maintaining his economic programme, notwithstanding a significant setback in the recent elections in Buenos Aires Province. In a social media post on Tuesday, the leader … Read more
Argentina’s monthly inflation increased at a rate below expectations, influenced by significant electoral activity in Buenos Aires Province that has contributed to fluctuations in currency stability. In August, consumer prices experienced a 1.9 percent increase compared to July, slightly under the two percent median forecast from economists, aligning with the figures reported for July. Annual … Read more
Argentina’s inflation remained unchanged at 1.9% in August, consistent with the previous month, according to data. Prices increased by 33.6% over the last year, a slight decrease from the 36.6% observed in the year leading up to July. Transport prices experienced a notable increase of 3.9%, primarily driven by rising costs in vehicles and fuel. … Read more