ECONOMIC OUTLOOK Milei’s team sees inflation slowing faster than economist survey Yesterday 12:04 President Javier Milei’s economic team sees monthly inflation slowing much faster this year than analysts anticipate.
POLITICS & ECONOMY 'The last stretch': Milei praises 'heroic' effort in prime-time address 22-04-2024 22:08 President uses prime-time broadcast to highlight first quarterly budget surplus since 2008. "This is the last stretch of a heroic effort," Milei tells nationwide.
POLITICS & ECONOMY How Milei and Caputo achieved Argentina's twin surpluses 22-04-2024 15:34 ‘Chainsaw’ and ‘blender’ plans pay off for Milei in much-improved fiscal figures for first quarter, as Argentina his government reporting a primary surplus and positive trade balance.
POLITICS & ECONOMY Caputo looks for funds for Argentina in Washington 19-04-2024 00:07 Economy Minister Luis Caputo is on the search for funds in Washington, seeking the US$15 billion President Javier Milei says Argentina needs to remove currency controls.
RELATIONS WITH CHINA Central Bank chief Bausili among top officials headed to China 18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.
BLOOMBERG Caputo speech at JPMorgan event helps propel Argentine bonds 18-04-2024 13:18 Argentina won’t lift capital controls until international reserves are high enough to safeguard against a potential currency run, Luis Caputo tells investors.
HEALTH & ECONOMY Government intervenes to halt private health scheme price surge 17-04-2024 17:21 Free-market Milei administration uses state power to challenge firms and announces most prepaid health schemes are rolling back runaway price increases; "The Argentina of wise guys is over," declares presidential spokesman Manuel Adorni.
ECONOMIC OUTLOOK IMF improves inflation projection: 150% this year, but 45% in 2025 16-04-2024 15:44 Latest 'World Economic Outlook' report predicts Argentina’s GDP will contract by 2.8% this. Milei’s "shock plan" will impact economy, arriving hand-in-hand with recession, says Fund.
HEALTHCARE & ECONOMY Private health firms: Caputo complains of 'war on middle class' 09-04-2024 16:19 Economy Minister Luis Caputo accuses ‘pre-pagas’ of declaring war on customers as government sources say investigation into price-fixing claims is underway; Firms seek urgent meeting with officials.
POLITICS – ANALYSIS Emperor of the Argentine Republic? 23-03-2024 06:32 In a country obsessed with dark priests that roam Government House with differing levels of influence on the upper echelons of the political class, Santiago Caputo has walked into his role perfectly. by Agustino Fontevecchia
POLITICS Milei's ‘Bermuda triangle’ stalks government officials 20-03-2024 22:02 The three members of Javier Milei’s inner circle have the authority to bounce any Cabinet member they see fit – and there have already been nine top-level exits in the first three months of the president’s term. by Ramón Indart
More hikes on way Gas prices set to rise sharply as Energy Secretariat prepares to trim subsidies 13-03-2024 17:48 Sources in Energy Secretariat anticipate new rates will be disclosed in next week; Energy companies have asked for rises above 500%.
DEBT SWAP OFFER Milei notches win as Argentina completes US$50-billion debt swap 13-03-2024 10:48 Government successfully swaps about 77% of peso debt due this year for longer-dated notes in the largest domestic debt rollover in Argentina’s history.
AMCHAM SUMMIT Caputo: Argentina 'just starting talks' with IMF over new programme 12-03-2024 20:26 "They always said that they were open to a new programme," economy minister tells business leaders at AmCham 2024 summit.
CLEAR WAY FOR IMPORTS Milei government opens up food imports in bid to curb price hikes 12-03-2024 12:38 Argentina’s government orders full opening of food imports in an attempt to curb an inflationary spike and introduce more “competitive” prices.
Options for peso bonds Argentina hinders debt swap by not offering puts on peso bonds 12-03-2024 12:23 Central Bank isn’t offering put options for peso bonds the government is selling this week in a record debt swap.
MARKETS Argentina seeks breathing room with peso swap worth US$65 billion 11-03-2024 11:46 Government starting a record swap of peso-denominated debt Monday in a bid to roll over almost all of its 2024 maturities into the next four years.
ANALYSING ARGENTINA Are two Caputos one too many for Milei? 02-03-2024 05:25 Foreign observers and investors welcome that Milei is a man on a mission to turn Argentina into a more open, more pro-market economy … but they don’t like conflict as the end itself, nor the Casa Rosada’s unwillingness to compromise. by Marcelo J. Garcia
POLITICS US Treasury boss, IMF chief offer praise for Caputo, Milei 29-02-2024 16:40 President Javier Milei’s government has taken “important steps” since taking office, declares US Treasury Secretary Janet Yellen during meeting in São Paulo
IMF DEBT PROGRAMME Argentina, IMF talking about new programme outline 29-02-2024 12:20 Argentina, IMF in talks about outline of possible new programme to speed up exit from capital controls.
ANALYSIS Economy shrank in December by most since pandemic 22-02-2024 21:14 Argentina’s economy contracted in December by the most since the peak of the Covid-19 pandemic.
ARGENTINA IN CRISIS Milei’s ‘no money’ slogan put to the test – but is there patience? 22-02-2024 16:46 Enthusiasm abroad for Javier Milei's presidential project is not matched by growing unrest on the streets of Buenos Aires.
ANALYSIS Milei’s ‘maquinita’ – How many pesos is Central Bank printing? 22-02-2024 15:31 Since Javier Milei entered the Casa Rosada as president, Argentina’s monetary authorities have continued minting the national currency – while altering its destination. Why is there talk of the "benign" printing of money? by Martín Fernández Nadale
IMF DEBT PROGRAMME IMF number two in BA for talks as social unrest grows 21-02-2024 18:21 Deputy managing director of the International Monetary Fund, Gita Gopinath, begins two-day visit by meeting for four hours with key government officials.
ECONOMIC INDICATORS Argentina sees first monthly budget surplus in 12 years 18-02-2024 11:46 Argentina recorded first monthly budget surplus in nearly 12 years in January, the Economy Ministry says in a statement.
ECONOMY & POLITICS Fernández de Kirchner reappears with economic critique of ‘showman’ Milei 15-02-2024 15:09 Former president shares an analysis of the “third debt crisis” facing Argentina and accuses La Libertad Avanza leader of implementing “ferocious austerity programme.”
ECONOMIC INDICATORS Milei, Caputo hail ‘deceleration’ as annual inflation rate exceeds 250% 15-02-2024 14:31 Consumer prices slowed in January to 20.6%, reveals INDEC national statistics bureau; Annual inflation rate reaches 254%.
Congress & Politics Caputo: Failure of omnibus bill ‘doesn’t affect economic programme’ 07-02-2024 16:53 Economy Minister Luis Caputo says inflation was around 20% in January and forecasts it will continue to decelerate over next two months.
Politics Milei crowns Caputo as super-minister, granting him greater power 03-02-2024 06:32 President Javier Milei has left in his economy minister’s hands all the areas managed by former Infrastructure minister Guillermo Ferraro. Today, Luis Caputo is one of the most influential people in the libertarian leader’s government. by Gonzalo Martínez
Interview Pablo Moyano: ‘Luis Caputo should be thrown into jail, not the Riachuelo’ 31-01-2024 16:10 Camioneros boss and CGT secretary-general lets loose, letting rip at Economy Minister Luis Caputo. “Governance will be complicated,” he warns President Javier Milei. by Juan Pablo Kavanagh
POLITICS & CONGRESS Government makes further concessions to Omnibus bill 29-01-2024 16:23 Milei government has once again watered down aspects of its sweeping reform bill in a bid to win over wavering lawmakers.
Congress & Politics Government pulls key fiscal reforms from Omnibus bill to smooth passage 27-01-2024 11:03 Economy Minister Luis Caputo announces President Javier Milei's government will withdraw the fiscal chapter of its sweeping 'Omnibus bill' reform package to ease its passage through Congress.
Congress & Politics Milei shelves austerity plan as Congress debates bill 27-01-2024 10:04 Main austerity measures in president's sweeping reform bill to be culled in order to get it through Congress, implying deeper spending cuts in the future.
EDITORIAL The four horsemen 27-01-2024 07:35 The general strike should be deemed not so much a success or a failure as a somewhat irrelevant blip within what gives every indication of being a long hot summer and a traumatic year.
POLITICS President Milei sacks Infrastructure Minister Guillermo Ferraro 25-01-2024 22:34 Infrastructure Minister Guillermo Ferraro asked to resign post amid reports he leaked information from Cabinet meetings, local media reports.
Congress & Politics Omnibus bill: Controversy over signing of committee majority opinion 25-01-2024 21:12 Majority opinion on controversial bill was fully backed by government deputies with partial dissidence from the moderate opposition. Legislation was due to reach house floor was on Thursday but Caputo’s bid was gridlocked by Pichetto and De Loredo.
ECONOMIC INDICATORS Economy posted mild contraction amid run-off election 23-01-2024 22:40 Economic activity in November fell 1.4% from October, according to government data. From the same month a year earlier, activity fell 0.9%.
BLOOMBERG – ANALYSIS President gets pragmatic as hostile Congress forces him to negotiate 23-01-2024 12:08 For a leader who rose to Argentina’s top job by touting radical proposals and showing little willingness to negotiate with the country’s “political elite,” Javier Milei is turning into quite the pragmatist.
LABOUR RIGHTS Government to dock day’s pay from striking state workers 18-01-2024 15:24 Presidential spokesman Manuel Adorni confirms that Javier Milei administration will dock a day’s salary from state-workers who join the CGT umbrella union grouping’s demonstration on January 24.
IMF DEBT PROGRAMME President to meet Georgieva in Davos after winning IMF support 16-01-2024 09:09 President Javier Milei will meet International Monetary Fund Managing Director Kristalina Georgieva on Wednesday at the World Economic Forum in Davos, Switzerland.
POLITICS & ECONOMY Chainsaw Plan Round 2: Government looks to deepen austerity 14-01-2024 10:19 Economy Minister Luis Caputo assures that there has been no fiscal shock so far in Argentina and that there is still room for further tightening. If President Javier Milei’s ‘Omnibus law’ does not pass through Congress, cutbacks will continue for state personnel, with cuts in overtime, the freezing of salaries, and the non-renewal of expiring contracts. by Juan Pablo Kavanagh
MARKETS Argentina bonds gain as Milei’s rework passes crucial tests 13-01-2024 08:58 Javier Milei capped his first month as president by winning approval from markets, providing a lift for his broader plans to overhaul Argentina’s economy.
IMF DEBT PROGRAMME Caputo brokers deal with the IMF he once battled 11-01-2024 09:27 Luis Caputo is back for a second act, and the IMF that forced his exit during those 2018 talks is cheering his initial efforts to salvage an economy that plunged further into crisis.
IMF DEBT PROGRAMME IMF staff show support for Milei’s 'ambitious stabilisation plan' 10-01-2024 22:04 Staff-level agreement paves the way for a new disbursement of US$4.7 billion in funds from Argentina’s "fallen" programme, says Economy Minister Luis Caputo.
DEBT SWAP OFFER Government proposes peso debt swap that may top US$71 billion 05-01-2024 14:30 Argentina’s government is proposing a debt swap to banks in the country that could top US$71 billion for peso notes due this year with the aim of postponing maturities and reducing the financial deficit to zero.
IMF DEBT TALKS IMF mission team in Buenos Aires for talks with Milei government 05-01-2024 08:25 Argentina’s new government set to receive mission team from multilateral lender for talks over US$7.7 billion in maturities due this year; Milei administration considers IMF programme to be “virtually collapsed.”
IMF DEBT DEAL IMF to visit Argentina amid expectation of new agreement 03-01-2024 08:56 The IMF's press office confirmed the meeting for Thursday. Nicolás Posse and Luis Caputo will lead talks.
MONETARY POLICY Central Bank cuts key rate to 100% by swapping main policy tool 19-12-2023 08:25 Central Bank changes benchmark tool for monetary policy, replacing four-week notes with one-day transactions in a bid to lower borrowing costs.
As I see it Javier Milei meets Mr Micawber 16-12-2023 06:23 As happened to Mr Micawber on one occasion, Argentina continues to languish in debtors’ prison. People here are well aware of this unfortunate fact, which is why Milei has won popular backing for the ruthless cost-cutting programme that is now underway. by James Neilson
POLITICS & ECONOMY Milei the pragmatist and Toto’s ‘caputazo’ 16-12-2023 06:06 The ‘caputazo’ replaced pure austerity with a mix of higher taxes together with spending cuts and the “dilution” of part of the deficit through high inflation. The next few months will see runaway inflation run even farther away and put intense pressure on the population, as wages and salaries fall even farther behind. by Agustino Fontevecchia