Although September’s economic activity figures have yet to be released, August’s data indicate that Argentina is poised to enter a technical recession in the third quarter of the year. The latest figures indicate subdued economic activity, as assessed by the Monthly Economic Activity Estimator, a preliminary gauge of quarterly GDP released by the national statistics … Read more
Argentina’s National Audit Office, the public-sector oversight entity, has expressed concerns regarding the administration of the Central Bank of Argentina under the leadership of Santiago Bausili, who is a close associate of Economy Minister Luis Caputo. In its most recent examination of the financial statements of the Central Bank, the source reported that transactions involving … Read more
Throughout history, the relationship between the International Monetary Fund and Latin America and the Caribbean has been turbulent, marked by numerous economic crises and debt defaults. A turning point in this relationship occurred in the early 2000s, when numerous countries from the region annulled their debt with the lender. The conclusion of the pandemic, however, … Read more
Javier Milei’s administration has unveiled a set of initiatives in recent days designed to stimulate domestic demand and, in turn, an economy that struggles to gain momentum. The libertarian administration has expanded dollar bank lending to encompass a wider range of companies, not limited to exporters. Concurrently, reports from the Labour Secretariat indicate that it … Read more
The Milei administration has been asserting for several months that the purchasing power of Argentines is on the mend following the significant fiscal adjustment of 2024 — even going so far as to claim it has already exceeded the levels observed during Alberto Fernández’s presidency. That assertion relies on a particular metric: the registered private-sector … Read more
Argentine Industrial Union President Martín Rappallini responded sharply to Economy Minister Luis Caputo following the minister’s severe critique of domestic industries regarding their product pricing. Rappallini remarked that such comments do not “foster the dialogue so desperately needed” during a period of declining industrial activity. Caputo made the remarks last Wednesday while defending his economic … Read more
Argentina’s impressive bond rally is poised to face challenges as the upcoming presidential elections reignite worries regarding the nation’s tumultuous economic history, as noted by Pablo Goldberg, an emerging markets portfolio manager at BlackRock Inc. The debt has returned approximately 8.3 percent this year, surpassing any other sovereign in Latin America, following two ratings upgrades … Read more
The International Monetary Fund has expressed criticism regarding the management of anti-corruption policies by President Javier Milei’s government, particularly highlighting the leniency in overseeing officials’ asset declarations. This marks the first instance in which the multilateral lender has articulated its position in such severe terms, at least since Argentina resumed borrowing from the IMF in … 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
On Monday, the Argentine government released the regulations pertaining to the Incentive Program for Medium-Sized Investments (RIMI, as per its Spanish initials) in the Official Gazette. The program aims to stimulate productive investments in micro, small, and medium-sized enterprises, focusing on goods, construction projects, and assets that are directly tied to productive activities. RIMI seeks … Read more
