POLITICS & ECONOMY Milei to cut 70,000 state jobs, boasting of chainsaw austerity 26-03-2024 22:29 President plans to fire 70,000 government workers in the coming months, he confirms in speech to IEFA Latam Forum in Buenos Aires.
HEALTH Puerto Rico declares health emergency over dengue 25-03-2024 21:21 Puerto Rico declared a public health emergency over dengue, a mosquito-borne illness that has surged throughout the Americas this year.
ANALYSIS Monthly inflation slows to 13% as Milei’s cuts bite 12-03-2024 16:45 Inflation in February slowed for a second consecutive time as the impact of December’s large peso devaluation fades and President Javier Milei’s austerity measures push the economy into recession.
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.
MONETARY POLICY Central Bank cuts rates to 80% in surprise move as inflation cools 12-03-2024 09:43 Central Bank unexpectedly cuts banchmark interest rate as policy-makers forecast cooling of inflation.
FOOTBALL IN ARGENTINA Tevez’s spat with Tapia shows consequences of AFA’s chaos 08-03-2024 11:23 Carlos Tevez declared open rebellion against Argentine football's reigning powers this week after seeing his Independiente side held against Barracas Central, in a match peppered with dubious refereeing decisions. by Dan Edwards
ECONOMIC OUTLOOK Analysts improve outlook, forecast inflation slowing to 210% in 2024 08-03-2024 10:48 Experts consulted for Central Bank’s REM survey of market expectations lower forecasts for inflation in the next few months, predicting 15.5% rate for February and a 3.5% economic slump this year.
ECONOMIC INDICATORS Argentines put US$2.3 billion into banks, signalling faith in Milei 06-03-2024 11:37 If the trend continues, it would be good news for Argentina’s Central Bank, where a portion of savers’ dollar deposits count toward the foreign reserves needed to stabilise the peso.
Argentina peso bond Argentina peso bond puts balloon, spurring inflation risk 05-03-2024 14:16 Puts on Argentina’s peso debt issued by the Central Bank have surged under Javier Milei’s government, reaching a record and prompting officials to scale back their use amid growing investor concern.
FOOTBALL IN ARGENTINA Superclásico takes centre-stage as derby weekend arrives in Argentina 22-02-2024 15:41 The weekend of clásicos is here and fans are licking their lips at the prospect of some tantalising clashes. by Dan Edwards
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
ECONOMIC INDICATORS Brazil’s economic activity caps 2023 with better-than expected growth 19-02-2024 14:05 Brazil’s economy grew more than expected in December, indicating activity is still showing some resilience to high interest rates as President Luiz Inacio Lula da Silva readies higher government spending.
ROAD TRAFFIC ACCIDENT Five Argentine tourists killed in Mexico road crash 19-02-2024 11:37 Five Argentine tourists and a Mexican citizen died in the tourist state of Quintana Roo in southeastern Mexico Sunday in a road-traffic accident.
Bloomberg Goldman, Barclays, Citi get up-close look at Milei’s Argentina 09-02-2024 00:08 Some of Wall Street’s largest banks are set to visit Argentina just as Javier Milei tries to come back from a massive defeat in Congress.
BONDS & MARKETS Argentina’s importers buy bonds in turnaround for Milei 12-01-2024 09:52 Argentina importers snapped up bonds aimed at helping them pay down debts owed to suppliers abroad in a win for the government.
PRESIDENT SPEAKS Milei vows to shutter Central Bank ‘sooner or later’ 11-01-2024 15:16 President Javier Milei vows Argentina's Central Bank will be shut down "sooner rather than later" and that dollarisation isn't off the table.
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.
Bopreal securities sale Argentina’s first ‘reconstruction’ bond sale to importers flops 29-12-2023 21:35 Central Bank’s first auction to pay down importers’ debts owed to suppliers abroad flopped Thursday as the monetary authority only sold a fraction of the total it had offered.
PRICES THROUGH THE CEILING Inflation accelerates: 30% expected in December after devaluation 21-12-2023 07:39 Analysts warns of major mark-ups triggered by the economic measures of the Javier Milei government.
MONETARY POLICY Argentina pulls off record sale of peso debt amid Milei rework 20-12-2023 22:08 New government stages largest-ever auction of local-currency notes.
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.
FOOTBALL IN ARGENTINA Rosario Central crowned Copa champs after 1-0 win over Platense 17-12-2023 09:53 A stunning individual goal from Maximiliano Lovera secured Rosario Central a 1-0 win over Platense on Saturday and the Copa de la Liga 2023 title.
DOLLARISATION ON THE CARDS? Argentina still plans to dollarise, Milei’s economy chief says 15-12-2023 09:13 “The objective remains the same — to get to dollarisation,” declares Economy Minister Luis Caputo.
FOOTBALL IN ARGENTINA Platense, Rosario Central head to scorching Santiago del Estero for final 14-12-2023 15:11 Santiago del Estero possesses a fantastic-looking, shiny new stadium, and it is in the Madre de Ciudades that the unlikely duo of Platense and Rosario Central face off in the final of the Copa de la Liga this Saturday. by Dan Edwards
BLOOMBERG – ANALYSIS ‘There is no money’: Argentina begins economic shock remedy 13-12-2023 11:41 Measures include 54% peso devaluation, additional 2% a month; Plan seen as step in the right direction, perhaps insufficient by traders.
NEW GOVERNMENT Argentina restricts dollar access until Milei unveils policies 11-12-2023 13:59 Argentina’s Central Bank restricts access to dollars at the official exchange rate until President Javier Milei’s administration announces the first measures of a promised shock-therapy programme.
Presidential handover Argentina stops banks from hoarding dollars ahead of devaluation 07-12-2023 13:34 Central Bank limits amount of foreign currency the nation’s commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by president-elect Javier Milei.
POLITICS Who is Santiago Bausili, the new head of the Central Bank? 06-12-2023 15:48 Finance secretary in the Mauricio Macri 2015-2019 administration, Santiago Bausili is a close friend of Luis 'Toto' Caputo. Hours before he was confirmed as the next governor of Argentina's Central Bank, the courts dropped charges against him.
NEW GOVERNMENT Milei picks Santiago Bausili to lead Central Bank 06-12-2023 08:03 Argentina’s president-elect Javier Milei picks Santiago Bausili, an ally of incoming economy minister Luis Caputo, to lead the nation’s Central Bank.
ECONOMIC POLICY Dollarisation is medium-term goal, Luis Caputo tells bankers 24-11-2023 22:06 Luis Caputo, who is leading Javier Milei’s economic team during the transition, tells banking executives in Buenos Aires that currency controls won't be lifted immediately and that dollarisation is a medium-term goal.
TRANSITION OF POWER Argentine banks flee to one-day notes amid government transition 24-11-2023 14:34 Banks are fleeing to short-term notes for even more liquid securities as President-Elect Javier Milei’s vague comments on the debt have stoked concern over how he’ll handle the assets.
POLITICS & ECONOMY Wall Street cheers as Milei swaps dollarisation for Macri brass 24-11-2023 13:07 Javier Milei pivots away from advisers advocating for his most dramatic campaign promises, choosing Wall Street veterans closer to Mauricio Macri.
BLOOMBERG - ANALYSIS Milei opens a new era: What comes next in Argentina policy-making 20-11-2023 09:25 Milei’s biggest political challenge will be his lack of support in Congress, where his party only counts a minority of senators and a fraction of lower house representatives.
ELECTION 2023: RUN-OFF Argentina takes leap into unknown with Javier Milei as president 19-11-2023 21:20 Attention will now turn to how Javier Milei implements his most contested measures with only a handful of representatives in a fragmented congress and an impatient electorate. He will take office December 10.
Election 2023 Argentina’s banks load up on liquidity before weekend’s election 15-11-2023 13:02 Local banks load up on the most liquid assets to ensure they could accommodate a potential surge in peso withdrawals ahead of run-off vote.
ELECTION 2023 Milei confirms dollarisation is a non-negotiable 'state policy' 02-11-2023 18:29 Presidential candidate for La Libertad Avanza says he won’t back down on two key policies – dollarisation and the elimination of the Central Bank – despite electoral pact with PRO leaders Mauricio Macri and Patricia Bullrich.
FUEL CRISIS? Argentines queue for fuel as FX shortage strands tankers at sea 26-10-2023 13:49 Growing lines at the pump and darkened gas stations at night are tangible signs of a fiscal crisis spiralling out of control.
FX MARKET Gov't depletes room to intervene in currency futures ahead of election 20-10-2023 16:47 Central Bank almost out of room to intervene in currency futures, the main avenue it’s been using to prop up the plunging peso.
BLOOMBERG – ANALYSIS Recession, inflation, devaluation: Economic troubles in 5 charts 19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.
HELP FROM BEIJING China lets Argentina tap extra US$6.5 billion from swap line 18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.
INTEREST RATES Central Bank hikes rate to 133% on inflation data 12-10-2023 23:39 Argentina’s Central Bank sharply raises key rate to 133%, sixth hike this year.
MONETARY POLICY Central Bank likely to hold rate despite inflation spike 09-10-2023 21:04 Argentina’s Central Bank board plans to keep its benchmark interest rate unchanged despite inflation data hovering around a three-decade high.
Public rebuke Central Bank technical move slammed as ‘attack’ by Mercado Pago 26-09-2023 11:23 Technical measure by Argentina’s Central Bank provokes rare public rebuke by fintech arm of MercadoLibre.
ELECTION 2023 Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite 20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.
ECONOMIC INDICATORS Government has printed equivalent of 18% of GDP since 2019 19-09-2023 09:33 New report says President Alberto Fernández’s administration has printed the monetary equivalent of 3% of GDP so far this year, most of it aimed at the repurchase of bonds to protect their price level.
POLICYMAKERS MEET Central Bank to keep key interest rate unchanged despite surging inflation 14-09-2023 00:46 Central Bank board will likely keep its key interest rate unchanged because policymakers expect slowing price pressures later on in the year.
BLOOMBERG – ANALYSIS Milei should dollarise Argentina at once, says man who did it in Ecuador 13-09-2023 14:15 Francisco Zalles, one of the few economists in world with experience of introducing dollarisation, is gung ho about libertarian frontrunner’s plan. Do it, and do it quick, he says.
ECONOMIC INDICATORS Brazil inflation accelerated in August to 4.61% 12-09-2023 14:54 Brazil’s inflation rate rises for second straight month in the wake of trimming of rates by central bank, but food prices decrease.
DOLLARISATION ON THE CARDS? Argentina’s dollarisation is a ‘bad idea’, top economists say 07-09-2023 13:13 Dollarising Argentina’s economy — as proposed by presidential candidate Javier Milei — is a bad idea that will do little to solve the country’s long-standing fiscal problems, three of Latin America’s most-renowned economists said.
DOLLARISATION ON THE CARDS? Milei in talks to win foreign financing to dollarise economy 07-09-2023 12:51 Javier Milei is in talks with investment funds abroad to obtain the foreign currency needed to dollarise the economy if elected later this year, reveals top adviser Diana Mondino.