Argentina has obtained a loan amounting to US$3 billion from a consortium of international banks, aimed at addressing an imminent foreign debt obligation and restoring the nation’s dwindling financial reserves. The Central Bank announced a one-year repurchase agreement – or repo – with lenders at a rate of 7.4 percent, according to a statement released … Read more
According to a source, Argentina’s Treasury is gathering greenbacks in preparation for a big bond payment that is due this week. These greenbacks are being acquired by the Treasury in order to acquire dollars that are entering the local market thanks to the privatization of hydroelectric power facilities. According to a source, the Treasury Department … Read more
President Javier Milei stands out in Argentine economic history — not solely because of his libertarian foundations, which are more rhetorical than impactful in his financial choices, but due to his implementation of fiscal austerity while maintaining sufficient popularity to secure a decisive victory in the midterm elections. In Argentina, the political capital of today … Read more
President Javier Milei has officially enacted a “fiscal innocence” bill, designed to incentivize individuals to deposit dollars hidden under mattresses or held in offshore accounts by offering a measure of tax evasion amnesty. In the context of prolonged high inflation and stringent currency controls, Argentines have increasingly opted to exchange their pesos for dollars, frequently … Read more
Commencing this Friday, January 2, the newly established inflation-adjusted band scheme will be implemented. Through its implementation, the economic team led by Minister Luis Caputo aims to expand the upper limit of the exchange rate scheme to ensure that the accumulation of foreign currency, a demand long postponed by the government, does not exert upward … Read more
With only five trading days remaining before the significant January 9 deadline, Argentina’s Treasury possesses merely US$1.9 billion of the US$4.3 billion it is obligated to pay, despite recent initiatives aimed at enhancing the country’s dollar reserves. Economy Minister Luis Caputo retains several avenues as he endeavors to consolidate the remaining resources. The options under … Read more
Following years of financial turmoil, Argentines typically prefer to store their money in various unconventional locations rather than in banks – whether it be beneath the couch, buried in the backyard, or secured in fortified bunkers. One former politician notably concealed funds at his nearby convent. The nuns provided assistance. President Javier Milei successfully persuaded … Read more
This week, the Argentine government initiated the privatization of the state-owned company Argentine Railways, marking the 11th public venture to be opened to private capital in 2025. Since the inception of the Milei administration, a total of 19 companies have undergone privatization or have been made available for corporate ownership bids. The Argentine Railways operates … Read more
President Javier Milei achieved two significant victories on Friday: the congressional endorsement of his inaugural budget bill and the establishment of a new law that enshrines the principle of innocence in cases of tax evasion. This legislation aims to enable Argentines to utilize their savings, particularly in dollars, with reduced oversight from governmental authorities. The … Read more
The administration of President Javier Milei is acutely aware of the scrutiny it faces. Not solely by the “market,” that transient entity made up of countless financial transactions divided into pesos and dollars, but also by its principal political and economic backers located in Washington: the Trump administration and the International Monetary Fund. Argentina’s self-proclaimed … Read more