News of devaluation

Traders bet on weaker peso as Milei’s IMF deal looms

26-03-2025 21:39 Investors see Argentina’s peso on the verge of devaluation again, but for Javier Milei, such a step could prove costly – especially ahead of midterm elections in October.

Editorial

Super size peso

08-02-2025 06:46 The peso is a palpably overvalued currency. Denialism is not the solution but nor is devaluation.

POLITICS

Milei again rules out devaluation of peso in Council of Americas speech

14-08-2024 18:20 President Javier Milei defends his government and rules out devaluation of the peso in speech at a Council of the Americas forum.

ECONOMIC INDICATORS

Inflation accelerated slightly to 4.6% in June, says INDEC

12-07-2024 16:23 Inflation rose slightly in June from previous month, by 0.4 points; Consumer prices rose 4.6% overall in June and have soared 271.5% in the last 12 months.

POLITICS & ECONOMY

Milei dials back shock therapy to keep Argentina’s inflation in check

12-07-2024 12:44 President Javier Milei is tapping the brakes on his shock therapy programme in a bid to hold on to popular support amid Argentina’s bleak economic reality.

Bloomberg

Inflation near 300% wipes out tourists’ deep discounts

13-04-2024 17:13 Surging inflation threatens to crimp a key source of tourism revenue as foreigners opt for other destinations.

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.

ECONOMIC WOES

Suffering middle class continues to shrink under Milei

20-03-2024 13:44 Argentina's middle class is vanishing: amid fierce austerity, more and more people cannot afford schooling or medicine, even those holding down two jobs.

INFLATION WOES

Price hikes soar with a vengeance in inflation-weary Argentina

15-12-2023 14:24 Experts warn of ‘inflationary shock’ in wake of Javier Milei’s first measures; Milei could pay the price for pushing correction onto citizens and not the “political caste,” as promised.

by Justin Martinez

Living with inflation

'We have to endure' - Argentines stoic as prices skyrocket

14-12-2023 14:17 Argentines, while worried about the future, appear resigned to a fate Javier Milei warned them of when he took to the campaign trail.

Agriculture

Crops get cheaper on Argentine currency plunge

13-12-2023 23:14 Prices for grains slid after Argentina, a major supplier, devalued its currency in a move that could encourage farmers to sell more of their crops into global markets.

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.

EMERGENCY MEASURES

The 10 ‘emergency economic measures’ announced by Caputo

12-12-2023 21:42 Economy Minister Luis Caputo announced the devaluation of the peso by over 50 percent to the dollar, as Javier Milei's new government seeks to tackle the country's deep economic woes.

NEW GOVERNMENT

Government to roll out first crisis measures in evening broadcast

12-12-2023 09:53 Economy Minister Luis Caputo will deliver a recorded speech at 5pm Tuesday, in which he will outline emergency measures from President Javier Milei’s new government.

PRESIDENT MILEI

Argentina rally put to test as challenges await Milei

09-12-2023 08:47 Investors’ giddiness with Argentina will be put to the test as Javier Milei takes over on Sunday.

DEVALUATION FEARS

Investors bet on 44% peso devaluation after Milei’s debut

06-12-2023 15:05 Investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration.

DEVALUATION

Argentina begins daily micro-devaluations, days from run-off

16-11-2023 12:36 Four days out from the presidential run-off, Argentina's Central Bank begins micro devaluations of the 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.

DEVALUATION FEARS

Currency fears stall sales of toilet paper, car parts

19-10-2023 13:19 Some firms suspend sales ahead of Sunday's presidential election; Fears of another devaluation are running high as the October 22 vote nears.

ECONOMIC INDICATORS

Argentina's economy grew in July despite recession on horizon

27-09-2023 13:02 Argentina's economy broke a four month streak of decline in July, beating estimates and growing at 2.4%.

ECONOMIC INDICATORS

Argentina's monthly inflation surges to 12.4%, worst since 1991

13-09-2023 19:56 Consumer prices rose 12.4% in August from July, the highest monthly increase since 1991 when the country was exiting hyperinflation.

CROSS-BORDER SHOPPING

Border-crossing Uruguayans enjoy bargain shopping in Argentina

11-09-2023 07:42 Faced with the constant devaluation of Argentina's peso, thousands of Uruguayans cross bridges to the neighbouring country every day to take advantage of cheaper goods and services.

ECONOMIC INDICATORS

Inflation in Buenos Aires City reached 10.8% in August

07-09-2023 17:06 Price increases jump double-digits after devaluation of peso; Hikes total 127.3% over last 12 months; Consultancy firm forecasts 130% inflation nationwide in 2024.

Living with inflation

The Odyssey: Making it to the end of the month amid runaway prices

07-09-2023 12:56 Six Argentines share tips on living with inflation and coping with escalating prices. Recipes for trying to reach the end of the month are very varied, ranging from cutting back on car insurance, not buying clothes, wrapping up to save on gas or disposing of assets to cover debts. Many employees, including skilled workers, don’t manage to reach the end of the month, or at least not without taking on a little debt.

by Agustina Bordigoni

MASSA TO STAY ON

Government lines up behind Massa ahead of new measures

17-08-2023 19:45 Government lines up behind economy minister as he prepares new measures to ease devaluation.

PASO REACTION

Argentina seeks larger IMF disbursement after 18% devaluation

14-08-2023 22:16 Argentina intends to ask the International Monetary Fund to increase a disbursement planned for later this month by an unspecified amount

PASO REACTION

Out of options and money, Argentina presses the panic button

14-08-2023 22:09 After years of trying to avoid a currency devaluation that would add to soaring inflation and reduce its popularity with voters, Argentina's government has finally pushed the panic button.

REACTION TO PRIMARIES

IMF sets date for disbursements, backs devaluation

14-08-2023 21:59 International Monetary Fund backs Argentina's devaluation of peso and raising of benchmark interest rates; Spokesperson confirmes August 23 meeting to approve release of funds.

Bloomberg

Massa wins Greylock’s blessing in bid to save Argentina's economy

09-08-2023 14:52 Argentina’s inflation surged under Massa – Greylock sees him as best to save the economy.

2023 election

Traders go to US for Argentina stocks to hedge election bet

02-08-2023 13:53 Investors are cautiously looking at US-listed shares of Latin American companies with operations in Argentina, anticipating benefits from market-friendly policies after this year's elections, but refraining from direct investment until long-term stability is established.

Economy

Fernández rejects devaluation rumours, asks Massa to stay until year-end

19-07-2023 13:22 Argentina's President Alberto Fernandez cautioned against a sharp currency devaluation due to the country's dollar shortage, while concerns of hyperinflation ahead of the upcoming elections.