Argentine utility Albanesi engages with creditors following a default on bond obligations. Two subsidiaries of Argentina’s utility Grupo Albanesi have contacted creditors following a missed payment on dollar bonds issued merely six months prior. Generación Mediterranea SA and Central Térmica Roca SA are engaging with bondholders to address a disagreement regarding US$19 million in interest that was … Read more
Fitch Ratings has upgraded Argentina’s credit rating, highlighting the nation’s efforts to eliminate currency controls and its achievement in obtaining multilateral funding. The ratings agency elevated the South American country’s status by one level to CCC+, placing it seven tiers into junk territory and aligning it with Ecuador and Sri Lanka, as stated in a … Read more
The initial trade discussions under the Trump administration feature a diverse array of significant exporters alongside smaller economies, as the White House aims to secure agreements that may act as templates for future negotiations. The team of US President Donald Trump has identified approximately 20 partners as the primary targets for initial negotiations, according to individuals … Read more
Corporate defaults are beginning to accumulate in Argentina as the policies of Milei take effect. As Javier Milei undertakes the removal of the distortions that have long plagued Argentina’s economy, signs of strain are emerging, particularly impacting companies that have accumulated debt by taking advantage of exchange rate discrepancies. The President has, over the past 16-plus … Read more
Argentina’s government is implementing new deregulatory measures that will enable individuals to utilize US dollars held outside the banking system without the need to disclose the source of the funds — a form of ‘sub-blanqueo’ whitewash designed to enhance liquidity, supported by a low exchange rate that necessitates a continuous oversupply of foreign currency. In … Read more
Javier Milei’s strained relations with China are hindering private-sector business activities. Regrettable remarks from Argentina’s President and his exaggerated portrayal of the relationship with US President Donald Trump have obstructed crucial efforts that sustain trade continuity. While the rhetoric has been moderated in Argentina, Beijing and its investors are anticipating a definitive action: either a … Read more
Aerolíneas Argentinas has declared that, for the first time since its renationalization in 2008, it will not seek financial support from the national government for the entirety of 2025. The national airline has faced intense debates over privatization efforts since the inauguration of President Javier Milei. This development signifies a significant achievement for the national airline, which … Read more
President Javier Milei has proclaimed his administration as “the best in Argentina’s history” and has assured that inflation will be eradicated by the middle of next year. However, the head of state’s comments – quite audacious, considering the country’s ongoing challenges with rampant inflation – came at a time when unions were intensifying their pressure … Read more
Argentina’s government is set to abolish taxes on over 4,000 industrial exports, as announced by Economy Minister Luis Caputo. In a post on his personal X account, Caputo stated that the initiative aims “to make local industry more competitive and encourage exports.” Caputo highlighted that the removal of export duties ranging from 3 to 4.5 percent on … Read more
The government asserts that the dollar is set to decline. The communication this time was directed towards representatives from both the export sector and the agricultural sector. The economic team emphasized that the decrease in export duties is provisional and provided insights regarding the tax reform initiative. Meanwhile, concerns linger regarding the viability of the … Read more