Despite a chorus of calls from investors, President Javier Milei and his advisers exhibit caution regarding the swift accumulation of Argentina’s international reserves, the decision to allow the peso to float, and the relaxation of currency controls. The government’s decisive triumph in the recent mid-term elections has provided Milei with a significant opportunity to implement … Read more
The Argentine government has confirmed the elimination of export duties for conventional crude oil, following a meeting involving Economy Minister Luis Caputo, Interior Minister Diego Santilli, and Chubut Governor Ignacio Ramírez. The national and provincial governments have entered into a memorandum of understanding aimed at eliminating the 8% tax in Chubut. The agreement emerges amidst … Read more
Argentine officials are poised to make a decision by year-end regarding the potential renegotiation of terms associated with a US$20-billion agreement with the International Monetary Fund, including stipulations related to foreign reserves, as per reports. A report indicated that the Central Bank governor mentioned Argentina’s intention to renegotiate reserve requirements; however, the individual clarified that … Read more
Luis ‘Toto’ Caputo has forecasted that Argentina’s economy may expand by as much as 10 percent in the coming year, contingent upon the approval of the government’s reform programme by Congress. During an event, Argentina’s economy minister remarked that confidence in President Javier Milei’s administration is on the rise following his success in the previous … Read more
The International Monetary Fund has called on Argentina to expedite the buildup of its international reserves, a primary point of contention raised by both the lender and various analysts regarding the nation’s economic strategy. At a press briefing on Thursday, IMF spokesperson Julie Kozack noted the rationale behind the petition, noting that a recent “improvement … Read more
Argentine Economy Minister Luis Caputo defended the implementation of a currency band scheme for the peso-dollar exchange rate, arguing against a free-floating system by characterizing the Peronist opposition as “communism.” The government is considering a labor reform designed to ease the process of layoffs; however, modifications to the tax system will be postponed. “We cannot … Read more
Economy Minister Luis Caputo informed investors in New York that Argentina intends to repurchase sovereign bonds and begin accumulating foreign reserves, even as the peso remains within its designated trading band, according to sources familiar with the situation. In a recent meeting attended by approximately 40 investors, organized by JPMorgan Chase & Co., Caputo indicated … Read more
Pablo Quirno has assumed leadership of the Foreign Ministry, succeeding Gerardo Werthein. The former finance secretary, now Argentina’s chief diplomat, is confronted with two significant challenges: firstly, to protect Argentina’s ties with the United States and to negotiate exceptional tariff and trade agreements that extend beyond the current discussions; secondly, to vigorously advocate for the … Read more
Economy Minister Luis Caputo announced that the government is undertaking labor and tax reforms, alongside benefits designed to encourage businesses to conserve their resources in pesos. While lacking specific details or a timeline for implementation, he indicated that these actions will constitute the “second stage” of President Javier Milei’s administration. “We clearly need a more … Read more
President Javier Milei’s senior economic officials indicated on Wednesday their expectation that Argentina’s US$20-billion currency swap with the United States will be concluded within a fortnight. During an event in Washington, Economy Minister Luis Caputo and Central Bank Governor Santiago Bausili expressed optimism regarding Argentina’s economic prospects, emphasizing the robust support the country has garnered … Read more