Prices in Argentina increased as anticipated last month, coinciding with the midterm election challenges faced by President Javier Milei’s party. In October, consumer prices experienced an increase of 2.3 percent, aligning with the median forecast of economists survey, and representing an uptick from the 2.1 percent recorded in September. According to government data published Wednesday, … 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
US Treasury Secretary Scott Bessent confirmed on Tuesday that Argentina had initiated the currency swap. The announcement concluded a period of speculation, with economists suggesting that the event had already transpired, despite the absence of confirmation from local authorities. Argentine President Javier Milei’s administration has not issued any public statements concerning the activation — as … Read more
This week’s Central Bank data reveals that the United States Treasury has divested the pesos acquired prior to the mid-term elections, realizing a substantial profit, according to Argentine economists. If accurate, this would bolster the U.S. government’s position that it is not providing gratuitous financial assistance to Argentina. Nonetheless, it has raised concerns in both … Read more
Argentina’s Central Bank has reduced its one-day peso repo rate by 300 basis points to 22 percent, as per reports, in the context of market stabilization following President Javier Milei’s midterm election victory. Traders were informed of the new rate on Wednesday via the BYMA, the principal stock exchange in the country, according to sources. … Read more
Argentine provinces and companies are preparing to access global markets in the coming weeks, as President Javier Milei’s victory in the midterm elections enhances optimism regarding the country. This development creates an opportunity for debt sales that could inject essential dollars into the nation’s foreign-exchange market. This week witnessed a surge in bond activity, spearheaded … Read more
Banks indicate that La Libertad Avanza’s success in the midterm elections presents a distinct opportunity for President Javier Milei’s Government to accelerate economic normalization, focus on acquiring international reserves, and adjust the exchange rate regime – or potentially liberalize it. Citibank, one of the entities through which the US Treasury purchased pesos to intervene in … Read more
All peso-dollar exchange rates experienced a rebound on Tuesday following a significant decline on Monday, as markets responded favorably to the decisive victory of Javier Milei’s party in the midterm elections. The wholesale exchange rate concluded at AR$1,470, reflecting a 2.4% rise compared to the prior day. This positions it 25 pesos beneath the upper … Read more
As President Donald Trump stated, the United States generated “a lot of money” through its bailout of Argentina. Despite the rally in that country’s markets following President Javier Milei’s unexpectedly significant win in the recent legislative elections, the situation appeared rather subdued. By the end of trading on Monday, it was estimated that the US … Read more
Argentina’s dollar bonds experienced a significant increase on Monday following President Javier Milei’s impressive performance in legislative elections, surpassing even the most optimistic predictions and alleviating investor worries that his economic reform agenda for the troubled nation might face obstacles. The nation’s debt experienced a significant increase across the curve in early trading, with dollar … Read more