On Thursday, Argentine bonds witnessed an increase for the second time in the past six sessions, while the peso improved for a second consecutive day in anticipation of the crucial midterm elections that will take place this coming weekend. One cent was added to the value of sovereign notes that mature in 2035, and they … Read more
The Argentine peso ended a five-day decline as major financial institutions engaged in the local currency market, coinciding with efforts by the United States government to support its ally Javier Milei in anticipation of an important vote this weekend. Both JPMorgan Chase & Co and Citigroup Inc were engaged in Argentina’s spot market on Wednesday, … Read more
Following multiple rounds of announcements, the currency swap between Argentina and the United States has been officially confirmed by the authorities of both nations. The US$20 billion support line is now accessible to President Javier Milei and Argentina. The decision by U.S. President Donald Trump to allocate a substantial support package to Argentina has been … Read more
Over the past two decades, the gaming industry has undergone a transformation that few could have predicted. Once considered a niche hobby, gaming has now become one of the most lucrative global industries, surpassing film and music combined. But beyond entertainment, video games have given rise to something far more complex — digital economies that … Read more
Online instability in the foreign exchange markets has helped give Argentina one of the highest cryptocurrency adoption rates in the world. As the peso continues to show weakness and a liquidity crisis deepens, could this lead to Argentina becoming a crypto-only economy? The Historical Examples While there haven’t been any examples of countries moving completely … Read more
Despite Argentina’s assertions to the contrary, the bailout from the United States government seems to be contingent upon certain conditions: they are seeking to eliminate China’s presence in Argentina. However, given Argentina’s substantial annual exports to China and the potential for significant infrastructure projects, one must consider whether President Javier Milei would genuinely sever these … Read more
The administration of US President Donald Trump has expressed its backing for Argentina’s President Javier Milei, aiming to enhance his prospects in the upcoming midterm elections – the onus now rests on him to secure victory. Milei, 54, is approaching the final stretch of the campaign trail, buoyed by favorable winds from Washington, even as … Read more
On September 2, 2024, the Argentine Central Bank sought to dispel ongoing speculation regarding the potential export of the nation’s gold reserves by declaring that it had effectively executed “transfers of part of its gold reserves to its various accounts.” In the concluding segment, the organization indicated that the national audit office possessed the necessary … Read more
Economy Minister Luis Caputo announced that the government is undertaking labor and tax reforms, alongside benefits designed to encourage businesses to conserve their resources in pesos. While lacking specific details or a timeline for implementation, he indicated that these actions will constitute the “second stage” of President Javier Milei’s administration. “We clearly need a more … Read more
The U.S. government acquired pesos in the Argentine foreign exchange market, as announced by Treasury Secretary Scott Bessent on Friday; however, this intervention did not suffice to prevent the peso from depreciating against the dollar. On the same day, the International Monetary Fund emphasized that Argentina ought to enhance its reserve accumulation efforts. “Yesterday, Treasury … Read more