For years, Argentines have expressed dissatisfaction regarding the elevated prices of clothing. Recently, however, their expressions of concern have been met with a query presenting an alternative solution. References to the online Chinese retailer have proliferated for a specific rationale. Since President Javier Milei removed restrictions on online shopping platforms, the Argentine market has seen … Read more
For Scott Bessent’s US$20-billion wager on Argentina to yield positive results, numerous factors must align favorably – factors that historically, in Argentina, have often not aligned as intended. The US Treasury secretary unveiled a support measure on Thursday aimed at stabilizing the nation’s financial markets amid escalating turmoil, while also assisting a key political ally … Read more
The Argentine government disclosed on Friday that U.S. artificial intelligence firm OpenAI has entered into a letter of intent to partner with Argentine-U.S.-owned company Sur Energy for the development of a large-scale data center in Argentine Patagonia. A presidential press release characterized the initiative as a “pioneering artificial intelligence infrastructure project” designed to position Argentina … Read more
The United States swiftly moved to stabilize Argentina’s economy on Thursday, providing US$20 billion in financing and executing an uncommon intervention in currency markets to support the peso following weeks of significant declines. Washington has finalized a US$20-billion currency swap framework with Argentina’s Central Bank, as stated by Treasury Secretary Scott Bessent in a social … Read more
U.S. Treasury Secretary Scott Bessent has declared that the United States acquired pesos in the Argentine market today as part of ongoing negotiations in Washington aimed at supporting President Javier Milei’s administration. Finance specialists remarked that this type of direct intervention in the local forex market by the U.S. was “unheard of.” Bessent stated “Today … Read more
A weather-altering phenomenon known as La Niña has emerged in the Pacific Ocean, thereby increasing the probability of drought conditions in California and agricultural regions in Brazil and Argentina. Concurrently, this phenomenon has brought about colder temperatures in the Midwest of the United States, while simultaneously bringing about a more temperate winter in New York … Read more
Argentina’s crypto story keeps moving because the currency itself continues to grow, evolve and adapt to our wants and needs. New rules, shifting dollar access, and a lively parallel rates conversation all nudge savers and risk-takers toward digital dollars and chat-based wallets. The headline now: regulators have started to harden the rails around who can … Read more
On Wednesday, Argentine short-term interest rates surged as the government intensified its measures to protect the peso, exacerbating a liquidity crisis that is constraining an already vulnerable economy. The yield on local government Lecap notes due November 28 increased to 87 percent from 74 percent on Tuesday and from 51 percent at the end of … Read more
Having depleted billions of dollars in reserves, Argentina’s government is employing innovative strategies to safeguard the peso in anticipation of significant midterm elections later this month. The Central Bank expended US$1.1 billion in the spot market last month as the currency exceeded its trading band and is now approaching a limit set by Argentina’s primary … Read more
The managing director of the International Monetary Fund, Kristalina Georgieva, stated that the success of Argentina’s program is contingent upon popular support. “Argentina is implementing a significant adjustment program,” Georgieva stated on Wednesday at the 2025 Annual Meetings held at the Milken Institute in Washington, DC. “The success is going to be based on carrying … Read more