Fitch Ratings has upgraded Argentina’s credit score, reflecting an increasing confidence in President Javier Milei’s efforts to reform the economy and obtain financing for the nation’s forthcoming debt commitments. The South American nation was upgraded to ‘B-‘ from ‘CCC+’, which is six notches below investment grade, according to a statement released by the ratings firm … Read more
The count of households benefiting from subsidies in Argentina has decreased by approximately three million since December 2023, coinciding with the commencement of President Javier Milei’s administration. At present, there are 2.1 million fewer households benefiting from electricity support and 900,000 fewer receiving assistance for piped natural gas in comparison to the beginning of the … Read more
Argentina’s workforce has been evolving over the past two years: a decline in the number of young individuals entering the job market, coupled with an increase in retirees returning to work to supplement their income. The trend, as detailed by the Instituto Argentina Grande in its recent report, is progressing at two distinct speeds. The … Read more
Alejandro Lamas notes that dollar bills can become surprisingly damp and odorous after being tucked away under a mattress for years. He has accumulated numerous stacks from Argentines to whom he has sold used cars over the years, making him somewhat of a connoisseur. Present him with a fake, and he can discern its authenticity … Read more
The Netherlands has declined at least two shipments of Argentinian soybean meal this month due to the presence of non-approved genetically modified material, posing a risk to a significant trade flow. In April, Dutch authorities issued two alerts concerning cargoes that originated from Argentina, the leading exporter of soybean meal globally. The notifications dated April … Read more
In recent weeks, the state-run National Meteorological Service (SMN, by its Spanish acronym) has faced significant threats of substantial cuts mandated by Deregulation and State Transformation Minister, Federico Sturzenegger. The administration of Javier Milei has already cut 200 positions at the SMN as part of its strategy to downsize the government. A representative characterized this … Read more
Generalized layoffs have emerged as a focal point of criticism regarding Javier Milei’s economic program. Since the libertarian economist assumed office with the commitment to eradicate inflation and “chainsaw” what he deemed an excessive state, over 300,000 formal jobs have been eliminated. In two separate speeches this week, the president asserted that his government “created … Read more
The European Union’s substantial trade agreement with the South American bloc Mercosur is set to provisionally take effect on Friday, notwithstanding an ongoing court ruling regarding its legality. The establishment of one of the largest free-trade zones globally was finalized in January, following over 25 years of sporadic negotiations. The combined economic output of the … Read more
Cabinet Chief Manuel Adorni and his fellow Cabinet ministers are currently receiving a gross monthly salary of 7,272,091 pesos, approximately US$5,210, as a result of a decree enacted by President Javier Milei. The data originates from a government report, which Perfil obtained through a request submitted under Law 27,275 (Access to Public Information). This report … Read more
A consortium comprising Argentine construction firm Víctor Contreras and Italian company Sicim has secured the contract to construct the largest liquefied natural gas pipeline in the Vaca Muerta oil and gas field, facilitating Argentina’s ability to export this essential commodity. The decision was reached unanimously by San Matías Pipeline, the consortium responsible for the project, … Read more