The Mercosur regional trade bloc and Canada are set to resume negotiations regarding a free-trade agreement, as confirmed by Brazil on Monday, amid escalating tensions surrounding US tariffs that have unsettled global commerce. Brasília, currently presiding over Mercosur, has announced that chief negotiators from Canada and the bloc, which includes Argentina, Brazil, Bolivia, Paraguay, and … Read more
According to a recent report by Torcuato Di Tella University, public trust in the government fell by nearly 14% in August compared to July. This marks the lowest point since President Milei assumed office. The Government Trust Index survey was conducted in the first two weeks of August, with its release following a week after … Read more
Argentine markets exhibited volatility this week, influenced by a significant bribery scandal impacting the Milei administration and a newly introduced monetary policy that has been characterized by many as precarious. The EMBI, a gauge of country risk that assesses the probability of debt default, rose to 829 basis points on Tuesday — marking its peak … Read more
Argentine authorities audit investor behavior in repo loans, short-term financial securities with record-high interest rates due to bank liquidity shortages. The Central Bank and local regulator CNV have sought assistance in analyzing the real-time data they receive daily from the country’s two primary exchanges, BYMA and A3, regarding the short-term instruments referred to locally as … Read more
In response to the bribery allegations involving a close associate, President Javier Milei’s senior officials are taking measures to mitigate the repercussions, which are impacting Argentina’s dollar bonds. This situation is exacerbated by a liquidity crisis that has led to a significant increase in interest rates. Argentina’s dollar bonds are being weighed down by bribery … Read more
A “dollarized” Argentina is doing well and a “pesofied” Argentina is struggling. Once the enthusiasm about inflation reduction subsides, Argentines will measure the Javier Milei administration depending on where in the social food chain they land. This will be measured by a simple variable: their standards of living vis-à-vis the past and their fellow countrymen. While it … Read more
Much like the formidable “Iron Lady,” the late British prime minister Margaret Thatcher, whom he greatly respects, Milei makes it clear that he stands firm in his convictions. Javier Milei posits that permitting public expenditure to exceed the breakeven threshold, even marginally, would precipitate the collapse of the structure he is constructing, thereby jeopardizing Argentina’s final opportunity to achieve prosperity. In his recent nationwide broadcast, he articulated his readiness to challenge politicians, religious leaders, and those with progressive views who assert … Read more
Amidst a tumultuous week marked by political, economic, and financial challenges in Argentina, President Javier Milei is now confronted with a new corruption scandal involving a senior government official. Milei dismissed Diego Spagnuolo, the director of Argentina’s ANDIS disability agency, on Wednesday following the release of leaked audio messages by local media. These messages reportedly … Read more
Argentina’s dollar-denominated bonds and corporate equities listed on Wall Street experienced a significant decline on Wednesday, following the Lower House’s decision to override President Javier Milei’s veto concerning a law aimed at augmenting funding for individuals with disabilities. On the same day, rates for the securities-guaranteed loans surged dramatically amid market uncertainty regarding the administration’s … Read more
In February 2024, Brazilian police have alleged that Jair Bolsonaro submitted a request for political asylum to Argentina’s president Javier Milei, a development that may exacerbate the former leader’s legal challenges. A 33-page document discovered on Bolsonaro’s mobile phone was dated merely days following the initiation of a coup-plotting investigation by the Federal Police during … Read more