On Thursday, Moody’s elevated Argentina’s long-term debt rating by two notches, moving it from Caa3 to Caa1. However, it continues to reside within the speculative category, as indicated by the risk rating agency’s statement. The agency referenced macroeconomic reforms that have contributed to a reduction in inflation and a resurgence in growth as the basis … Read more
Argentina has decided not to engage in negotiations with Burford Capital, the firm spearheading the collection of a US$16-billion judgment against the South American country, as stated by a spokesman for President Javier Milei during a press briefing on Friday. The spokesperson, Manuel Adorni, refuted claims that the government engaged in any clandestine discussions. “Argentina … Read more
In the context of the ongoing debate surrounding the prospective transfer of YPF shares as a settlement for a US$16-billion judgment linked to the expropriation of the oil company, the United States government has declared its intention to intervene in court to provide support for Argentina. The administration of US President Donald Trump is preparing … Read more
The economic team of the President conveys a clear message to the market regarding its firm control over Argentina’s money supply, which is essential for combating inflation, stabilizing the peso, and maintaining his elevated approval ratings. Investors in Argentina have started to foresee a nuanced shift in policy as President Javier Milei appears to relax his … Read more
In June, Argentina experienced a 1.6% increase in consumer prices, reflecting a positive outcome for President Javier Milei’s economic programme. According to the official figures released on Monday by the national statistics agency INDEC, the annual inflation rate stands at 39.4%, with a notable increase of 15.1% in prices during the first half of the … Read more
The Argentine Public Budget Association reported that the government spent more than usual in the first semester. It is plausible that the government may experience a funding shortfall in 2025. At the midpoint of the fiscal year, there has been a marginal overspend relative to the historical budgetary average. If this trend persists, it will … Read more
Inflation on the Rise: Housing, Transport, and Financial Services Push Costs Higher In June, monthly inflation in Buenos Aires increased to 2.1 percent, as reported by the official statistics bureau of City Hall. The figure reflects a half-point decrease from the previous month, during which consumer prices experienced a rise of 1.6 percent. In April, … Read more
The rise in credit card defaults observed in Argentina during April, which persisted through May and June, raises concerns regarding sustained consumer spending in the forthcoming months and may also have implications for the financial sector’s market performance. The consulting firm Labor, Capital and Growth (LCG) highlights in its latest report that the issue, as … Read more
Argentina is contesting a US judge’s directive to relinquish 51% of shares in YPF in the expropriation matter; Milei is directing blame towards Kicillof and Fernández de Kirchner as concerns regarding the implications of the ruling intensify. Argentina has officially requested that US Judge Loretta Preska pause the decision mandating the transfer of 51 percent … Read more
President Javier Milei on Thursday called on his Mercosur partners to advocate for increased trade openness within the bloc while hosting his fellow leaders of the South American group in Buenos Aires. In a typically forceful opening speech, the La Libertad Avanza leader cautioned that his government would pursue that goal unilaterally if necessary, suggesting … Read more