Investors in Argentina are raising their expectations that President Javier Milei will implement a devaluation of the peso following the midterm elections this month, as the government continues to exhaust its reserves to support the struggling currency. The Treasury took action for the seventh consecutive session on Wednesday. It had already sold an estimated US$1.5 … Read more
The World Bank has revised its 2025 growth forecast for Argentina downward by nearly a percentage point to 4.6 percent, a figure that still exceeds projections from domestic analysts. In a report released on October 7 in Washington, the global institution indicated that the domestic economy is poised to be one of the top performers … Read more
The government of Argentina engaged in the sale of dollars on the foreign exchange market on Monday for the fifth consecutive session. This action was taken in an effort to alleviate the depreciation of the peso. It is likely that the Central Bank acts as the financial middleman for the Treasury in the domestic currency … Read more
Brazilian President Luiz Inácio Lula da Silva called on US President Donald Trump to remove punitive trade tariffs during their inaugural official discussions on Monday, following a period of tension between the two leaders. Both indicated the possibility of an in-person meeting in the near future. The two leaders engaged in a 30-minute discussion characterized … Read more
To understand the currency crisis destabilizing the Argentine economy and threatening the administration of President Javier Milei, one need only cross the Andes mountains to reach the Chilean capital of Santiago. Outside a Courtyard by Marriott hotel, Carolyn Pérez recently observed scenes that reflect broader economic trends. Pérez recounts the experience of two Argentine couples … Read more
The leader of the International Monetary Fund provided a renewed endorsement for Argentina on Friday, aligning with the Trump administration’s initiatives to bolster President Javier Milei ahead of the country’s midterm elections scheduled for later this month. IMF Managing Director Kristalina Georgieva indicated that she had discussions with US Treasury Secretary Scott Bessent regarding “extensive … Read more
President Javier Milei’s temporary suspension of crop export tariffs last week, aimed at bolstering the nation’s finances, triggered an unprecedented surge in bookings. Commodity traders and farmers are currently contending with the repercussions. Milei’s strategy to enhance the supply of dollars in the foreign-exchange market swiftly garnered approximately US$7 billion in planned shipments, as exporters … Read more
Argentine bonds have reacted sharply to each headline that has appeared on trading screens over the past fortnight, resulting in a significant degree of volatility. Certain investors perceive local traders as the driving force behind numerous market movements, while foreign participants maintain a cautious stance. The nation’s dollar notes, having experienced their most significant rally … Read more
United States Treasury Secretary Scott Bessent stated in an interview that the United States intends to provide Argentina with a currency swap, but will not inject funds into the country. During an interview, he stated: “As far as what the US is doing, just to be clear, we are giving them a swap line, we … Read more
Argentines are now prohibited from purchasing U.S. dollars in the official wholesale market via e-wallets, following a statement from the Central Bank on Tuesday, which clarified that fintech firms had never received authorization to engage in the sale of the currency. The authorities assert that this does not represent a new limitation on the availability … Read more