President Javier Milei faced a significant challenge in Congress, narrowly escaping a major defeat as lawmakers worked to gather sufficient votes to partially overturn his veto of a pension spending bill. On Wednesday night, the lower house of Congress cast a vote of 160-83 to reject the veto, falling just short of the two-thirds threshold … Read more
President Javier Milei’s administration has experienced a detrimental shift in the formal employment sector: from November 2023, the month preceding his inauguration, to May 2025, the economy has seen a decline of over 220,000 jobs and the closure of more than 15,000 businesses. A recent report by the Centro de Economía Política Argentina (CEPA) presents … Read more
In June, Argentina’s economy experienced a contraction for the fourth consecutive month this year, occurring just prior to a significant increase in interest rates in July. This development represents a minor setback for President Javier Milei as the nation approaches midterm elections in October. Economic activity declined by 0.7 percent from May, falling short of … Read more
In June, economic activity experienced a contraction of 0.7 percent compared to the preceding month, marking a second consecutive decline, according to the INDEC national statistics bureau. Financial services, wholesale, retail, and repairs drove 6.4% year-over-year economic growth despite a second monthly fall. In contrast, the statistics agency reported a year-on-year surge in activity of … Read more
Glencore Plc has submitted applications to incorporate two copper projects, with a total capital expenditure projected to exceed US$13 billion, into Argentina’s investment incentive programme. The commodities firm based in Switzerland is pursuing the tax, customs, and currency exchange advantages provided by the government program for El Pachón in San Juan Province and Agua Rica … Read more
A New York appeals court has granted Argentina’s request to halt the transfer of 51 percent of YPF shares as it considers appeals related to the ruling mandating the country to compensate two companies with US$16.1 billion due to the oil firm’s nationalization in 2012. Argentina will consequently retain its YPF shares during the ongoing … Read more
For both the government and the opposition, the central issue revolves around the extent of spending on pensions, with scant attention given to the potential for achieving greater outcomes with reduced resources. The presidential vetoes enacted last weekend concerning legislation for pensioners and the handicapped, coupled with the midweek passage of the university funding bill … Read more
Investors are increasingly allocating capital to Argentina’s local markets, capitalizing on the significant depreciation of the peso and the decline in domestic bonds to enhance their exposure to the nation’s assets. Vontobel Asset Management has engaged in the acquisition of Boncer bonds, which are inflation-linked notes issued by the government. Meanwhile, Neuberger Berman has taken … Read more
Different segments of Argentina have different consumer habits. The housing market is experiencing robust growth in Javier Milei’s Argentina. Automobiles are rapidly being sold, and prominent airlines are increasing their flight offerings to Buenos Aires in response to the rising demand for travel. Yet restaurants are increasingly vacant, hotels are at best operating at fifty … Read more
Argentina’s government blames local banks, big industry, and the establishment for the third currency run of its administration. Milei sees it as a political attack on his economic plan. Heidentifies his scapegoats for the turbulent conditions affecting monetary markets at the end of the month. In addition to the well-known “Kukas” (which are relatively straightforward … Read more