President Javier Milei faced a significant challenge in Congress, narrowly escaping a major defeat as lawmakers worked to gather sufficient votes to partially overturn his veto of a pension spending bill. On Wednesday night, the lower house of Congress cast a vote of 160-83 to reject the veto, falling just short of the two-thirds threshold … Read more
President Javier Milei’s administration has experienced a detrimental shift in the formal employment sector: from November 2023, the month preceding his inauguration, to May 2025, the economy has seen a decline of over 220,000 jobs and the closure of more than 15,000 businesses. A recent report by the Centro de Economía Política Argentina (CEPA) presents … Read more
A New York appeals court has granted Argentina’s request to halt the transfer of 51 percent of YPF shares as it considers appeals related to the ruling mandating the country to compensate two companies with US$16.1 billion due to the oil firm’s nationalization in 2012. Argentina will consequently retain its YPF shares during the ongoing … Read more
For both the government and the opposition, the central issue revolves around the extent of spending on pensions, with scant attention given to the potential for achieving greater outcomes with reduced resources. The presidential vetoes enacted last weekend concerning legislation for pensioners and the handicapped, coupled with the midweek passage of the university funding bill … Read more
Argentina’s local debt auction on Wednesday did not meet market expectations, as President Javier Milei’s administration managed to roll over only 61 percent of maturities in a crucial auction. Analysts suggest that this outcome may lead to a depreciation of the peso. The Treasury executed a rollover of 9.1 trillion pesos from the 15 trillion … Read more
President threats budget offenders with jail, accuses adversaries of “genocide” and suggests court fight over laws passed after congressional defeats. Javier Milei conducted his seventh nationwide broadcast since assuming office on Friday, utilizing the opportunity to rationalize a series of vetoes that were published in the Official Gazette earlier in the week under Decree 534/25. … Read more
Argentine President Javier Milei has declared his intention to submit a bill to Congress that would prohibit the approval of national budgets featuring fiscal deficits. The leader announced his intention to “wall” his austerity measures during a nationwide radio and TV broadcast on Friday night, coinciding with his veto of recently passed Congressional laws aimed … Read more
Twenty months into President Javier Milei’s tenure, during which he promised to spearhead a free-market revolution in the so-called sick man of South America, the agricultural sector is encouraging him to advance his agenda further. This encompasses Rubén Artigues and his orchards located in the La Buena Moza region, situated two hours northwest of the … Read more
The recently published staff report on Argentina from the International Monetary Fund (IMF) indicates that the national administration under President Javier Milei is dedicated to implementing extensive reductions in social policies and altering the methodology used to calculate inflation. Last week, the lender of last resort sanctioned a US$2 billion disbursement to the country, as … Read more
President Javier Milei on Monday exercised his veto power against a law sanctioned by Congress aimed at enhancing pensions for the elderly and disabled, contending that it would compromise his efforts to achieve fiscal equilibrium in Argentina. It marks the second occasion since August 2024 that Milei, who identifies as a “anarcho-capitalist,” has obstructed a … Read more