ECONOMY & POLITICS Argentines rush to deposit cash savings as part of Milei policy 09-09-2024 15:08 Dollar deposits have surged 40 percent to US$19.8 billion since he took office December 10, marking the highest levels since late 2019, according to Central Bank data.
DOLLAR RESERVES Argentina fights on two fronts to defend peso, draining reserves 02-08-2024 14:14 Argentina’s decision to extend its defence of the peso to the parallel market is draining its foreign currency reserves and denting the most fragile of commodities in its battered economy: investor confidence.
BEYOND THE HEADLINES Quasi-fiscal as Milei's Quasimodo 23-07-2024 15:15 And those liabilities have come to infest the Central Bank via all those bonds issued over the years to shunt the Treasury’s fiscal deficit their way – the Lebacs, Letes, Lecaps, Leliqs, puts and all the rest of them. by Michael Soltys
UNREST IN BOLIVIA Growing discontent amid dollar, fuel shortages in resource-rich Bolivia 03-07-2024 10:58 Along with the fuel shortage in Bolivia, which tends to be chronic due to economic problems in imports, there is also a lack of dollars in the country and, consequently, an increase in the exchange rate in the parallel market.
THIRST FOR CURRENCY Argentines suddenly need pesos after Milei pitched dollarisation 04-06-2024 08:48 More people in Argentina are now selling some of their dollar savings for pesos to make ends meet than those buying greenbacks – the abrupt revival of demand is an unexpected consequence of President Milei's shock-therapy policies.
DOLLARISATION ON THE CARDS? Milei lays out blueprint toward dollarisation 23-05-2024 01:31 Milei says that after clearing the Central Bank’s balance sheet, Argentina would move toward a free competition of currencies, which means the peso and US dollar would both become legal tender.
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.
PALTRY PAY Survey: Argentina has lowest minimum wage in dollars in region 21-03-2024 17:01 Minimum wage now at the lowest level of the last 20 years, according to a new report by Focus Market consultancy firm.
APPETITE FOR FOREIGN CURRENCY Dollar fever eases in Milei’s Argentina... good news? 11-03-2024 16:25 Appetite for dollars in Argentina as a shelter against inflation is falling under Milei’s government, but what from afar looks encouraging, smells of recession, declining imports and falling incomes.
ECONOMIC POLICY Milei sets June deadline for lifting of capital controls 08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.
Economy Why the Argentine peso is slipping through Milei’s fingers 18-01-2024 23:30 Despite Javier Milei's best efforts, the gap between blue and official rates remains, and the peso has plunged by about a third against the dollar this year.
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.
FOREIGN EXCHANGE ‘You are now free to buy dollars’ – Milei legalises trading at parallel exchange rate 21-12-2023 17:44 President asserts that “buying the 'blue' dollar is no longer a crime” as he legalises operations in 'cuevas,' or foreign exchange houses.
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.
DOLLAR Fernández leaves with 'blue dollar' close to 1,000 pesos a dollar 07-12-2023 16:54 Argentina's president departs the Casa Rosada having overseen large devaluations in the official and unofficial exchange rates. by Ramiro Speranza
ECONOMY & EXCHANGE RATE Milei minister hints new exchange rate of 650 pesos per greenback 05-12-2023 16:40 Economists react with caution, doubt and criticism to incoming Interior Minister Guillermo Francos’ declaration that peso should be at between 600 and 650 per greenback.
MARKETS Argentina investors cheer Milei victory, brace for peso sell-off 20-11-2023 00:37 Investors cheered libertarian economist Javier Milei’s bigger-than-expected win in Sunday’s presidential vote and his pledge to usher in a radical remake of South America’s second-largest economy.
AGRICULTURE & ECONOMY Argentina running out of soy adds to next president’s economic woes 16-11-2023 19:05 After the worst drought in six decade, farmers are running out of the very commodity that fuels Argentina’s economy.
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.
MARKETS Argentina assets brace for sell-off after Massa forces run-off 23-10-2023 08:17 Investors braced for a sell-off after Economy Minister Sergio Massa did better than forecast in Sunday’s presidential vote, dashing hopes for an outright win by a more market-friendly candidate.
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.
Election 2023 preview Inflation raging at 130% is pushing Argentina down a radical path 19-10-2023 20:55 Presidential candidate Javier Milei is winning over voters with promises to revive what was once one of the world’s wealthiest nations.
ELECTION 2023 Tense election week: shortages, pre-emptive increases and dollarised prices 19-10-2023 15:21 A few days away from the presidential election, devaluation fears are spreading. by Ariel Maciel
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.
Currency woes A US$500-million cash pile at Argentina’s main airport unnerves banks 19-10-2023 00:06 Banks have seen a sharp increase in dollar withdrawals at their branches ahead of the election. Forced to import cash to meet the surge in demand, a government move meant to stem “irregularities” in foreign trade has compounded concerns.
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.
'CEPO' ON WAY OUT? Baffling Argentina FX rates on borrowed time as election nears 17-10-2023 16:02 The hodgepodge of currency controls put in place in Argentina is likely in its last days.
ELECTION 2023 Debt, inflation and the peso: Argentina's election worries 17-10-2023 12:27 As Argentines head to the polls on October 22 for a crucial presidential election, candidates have campaigned hard on proposed elixirs for the country's economic ills.
EDITORIAL We’ve got the blues again 14-10-2023 05:20 Regardless of whether Milei is an economic terrorist or whether the government is the architect of its own destruction, the problems caused by the extreme volatility of this week’s four-digit dollar are all too real with panic price increases across the board.
CURRENCY WOES ‘Croatian cueva’ – One of Argentina's biggest illegal trading houses shut down 12-10-2023 16:12 Nimbus Group, one of the capital's biggest illegal currency traders, shut down by police; Officials say site, headed by 'King of the cuevas' Ivo 'The Croat' Esteban Rojnica, is one of largest operators of 'blue dollar' exchanges in Argentina.
POLITICAL AND FINANCIAL UNREST Recriminations fly as peso flounders ahead of vote 11-10-2023 21:55 President Alberto Fernández files a criminal complaint for "public intimidation" against Javier Milei, blaming the libertarian for the peso's weakening on informal markets.
Election 2023 President denounces Milei for fuelling run on currency 11-10-2023 21:39 President Alberto Fernández confirms he has reported La Libertad Avanza leader Javier Milei and libertarian City mayoral candidate Ramiro Marra to authorities for prompting run on currency.
DOLLAR Government unifies rates on dollar purchases abroad 10-10-2023 15:21 Qatar, solidary and card dollar rates unified via AFIP resolution; Cost of accessing dollars for these types of purchases now reaches 100%. Which transactions will it affect?
CURRENCY WOES Argentina’s black market peso rate tops 1,000 per dollar 10-10-2023 15:10 Argentina’s black market exchange rate hit a record 1,040 pesos per dollar Tuesday, continuing a sharp sell-off before the October 22 presidential election.
CURRENCY WOES 'Blue dollar' hits 1,000 – pre-election jitters send peso to new lows 10-10-2023 12:25 Argentina's parallel 'blue dollar' broke through the symbolic 1,000-peso mark in parallel markets on Tuesday as citizens scrambled to dump the currency.
DOLLARISATION ON THE CARDS? 'Blue dollar' surges to record high as Milei reiterates dollarisation plan 09-10-2023 22:08 Libertarian presidential candidate Javier Milei reiterates desire to dollarise Argentina's economy as parallel 'blue dollar' surges to record 945 pesos per greenback.
FOREIGN EXCHANGE ‘Blue’ dollar soars – parallel exchange rate nears 900/greenback 06-10-2023 16:18 Movement of people and companies trying to dollarise is being felt given the proximity to the presidential election as exchange rate turbulence continues.
FOREIGN EXCHANGE Banks searched in Argentina due to alleged million-dollar currency flight 05-10-2023 17:26 Eighteen banks were searched on Thursday nationwide as part of investigation into alleged flight of US$400 million through import manoeuvres.
Bloomberg Peso tumbles with dollarisation rush amping up before vote 05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.
THIRST FOR DOLLARS Argentines’ love of dollars creates a windfall for local brokers 02-10-2023 16:53 Argentina’s economic disaster has sent inflation soaring and pushed poverty levels toward a 15-year high. But for local brokerages, the chaos has fuelled a boom unlike anything industry veterans can remember.
Election 2023 Bullrich adviser says dollar, peso will co-exist in Argentina 26-09-2023 23:54 “The peso and the dollar will coexist” if Patricia Bullrich is elected as president, says Carlos Melconian.
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.
DOLLARISATION ON THE CARDS? Argentina economists lambast dollarisation proposal as ‘mirage’ 11-09-2023 11:38 Economists lambast Javier Milei's proposal to dollarise the nation, calling the idea a mirage and warning it would spawn a new set of challenges.
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.
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.
AGRICULTURE & ECONOMY 'Soy dollar' back with 25% foreign currency available to exporters 05-09-2023 12:17 Fifth edition of the 'Export Increase Programme' this time does not include unique exchange rate; Applies to exporters from last 18 months; Details of the new decree and the sector's reaction.
DOLLARISATION ON THE CARDS? Voters toy with ditching pesos for dollars 01-09-2023 15:21 In inflation-hit Argentina, where rentals, cars, and appliances are increasingly priced in dollars to sidestep the volatile peso, presidential candidate Javier Milei has sparked debate over whether to officially adopt the currency as a remedy to a battered economy.