100 days of Milei Success and setbacks: 100 days of Milei Today 09:50 President Javier Milei has slashed public spending, but 100 days into his presidency social tensions are simmering and he is still battling to pass flagship economic reforms.
BUSINESS Enel suspends sale of Edesur amid Milei optimism Yesterday 22:45 Enel becomes the first major multinational to pivot its strategy in Argentina based principally on Milei’s shock therapy economic plan.
POLITICS & ECONOMY Kicillof announces wage increase for state workers Yesterday 15:11 Salaries of state teachers, police officers and public employees will rise by 13.5% this month, orders Buenos Aires Province Axel Kicillof, in defiance of President Javeir Milei’s cost-cutting plans.
FINANCE Milei seeks US$15 billion for removal of currency controls Yesterday 11:24 President Javier Milei says he would open up restrictions on foreign currency immediately if he has US$15 billion; Money could be provided by the IMF, multilateral bodies, private investors and even “some countries."
ANALYSING ARGENTINA Pax cambiaria, pax mafiosa? 16-03-2024 06:45 Inflation and crime are at the top of President Javier Milei’s agenda. Both will test his libertarian approach to problem-solving. by Marcelo J. Garcia
EDITORIAL Belling terror 16-03-2024 06:41 The solution to drug crime bloodshed in Rosario is far from being as brutally simple as the problem, as some would seem to think.
POLITICS – ANALYSIS Meme politics, tackling price hikes and Milei’s North Star 16-03-2024 06:31 President Milei understands that he needs to deliver slowing inflation and the beginning of an economic rebound if he is to have a chance at truly governing the country. by Agustino Fontevecchia
Lithium in Argentina Lithium permit freeze limited to new projects, says Catamarca 15-03-2024 14:10 Catamarca Province says court ruling to halt the awarding of lithium permits only affects new projects, leaving other firms free to continue producing the metal.
POLITICS & CONGRESS Milei’s bold decree suffers major setback after repeal in Senate 14-03-2024 21:18 President's initial dose of shock therapy teeters on the edge of collapse after Senate defeats his sweeping executive decree.
POLITICS & CONGRESS Blow for Milei as Senate rejects sweeping mega-reform decree 14-03-2024 20:31 President's sweeping deregulation DNU rejected by senators in upper house; Emergency deregulation decree now heads to lower house Chamber of Deputies, where it must also be voted down if it is to be repealed; Tensions reported between head of state and Victoria Villarruel, his vice-president.
AGRICULTURE & ECONOMY US green fuel push threatens Argentina’s main export market 14-03-2024 15:56 Biden administration’s landmark decarbonisation plan has the potential to cause tectonic shifts in global agricultural markets – and deal a damaging blow to Argentina’s troubled economy.
POLITICS Milei sends scaled-back 'omnibus' reform bill to governors 14-03-2024 14:54 So-called ‘omnibus bill’ — now containing 269 articles, less than half than the original version — excludes the privatisation of YPF while maintaining sell-off of Aerolíneas Argentinas SA.
EDUCATION STRIKE Universities in Argentina stage one-day strike over budget demands 14-03-2024 13:36 More than 50 universities across Argentina failed to open their doors on Thursday as part of a strike in demand of “an urgent salary increase and in defence of the state, public, free and secular university.”
EDUCATION Universities challenged: Chancellors warn Milei government money will only last until May 14-03-2024 11:44 President Javier Milei’s government is in the grip of a battle with universities over the education budget in 2024. Amid growing complaints, chancellors despair at condemnation from Casa Rosada and Presidential Spokesman Manuel Adorni. by Giselle Leclercq
DEBT DOWNGRADE Argentina downgraded to selective default by S&P on debt swap 13-03-2024 23:08 Standard & Poor's downgrades Argentina's peso-denominated debt to "selective default," following announcement of US$55.3-billion debt swap.
CONGRESS & POLITICS Senate set for debate as Milei's deregulation decree hangs in balance 13-03-2024 15:48 Vice-President Victoria Villarruel, in her role as head of Senate, accepts opposition's request for debate and calls special session for Thursday to address President Javier Milei's sweeping emergency deregulation decree.
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.
ECONOMIC INDICATORS UNICEF: 7 out of 10 children live in poverty in Argentina 12-03-2024 17:16 Approximately 8.6 million kids under the age of 18 live in low-income households or in environments where they are deprived of their rights, reports local branch of UN agency dedicated to children.
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.
Economic indicators Boost for Milei: Inflation slowed to 13.2% in February 12-03-2024 16:12 Good news for President Javier Milei as INDEC data shows February inflation of 13.2%, below estimates; Prices have increased by 276.2% over the last 12 months in Argentina.
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.
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.
STATE NEWS AGENCY SHUTTERED Government extends suspension of workers at Télam state news agency 11-03-2024 20:42 Workers at state news agency given another week off with pay as bosses offer voluntary redundancy to employees.
ECONOMIC OUTLOOK 'Very complicated': Milei warns inflation rate for March could be high 11-03-2024 14:29 Argentina’s president says consumer price hikes are slowing and that he “is convinced” battle against inflation will be won.
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.
Editorial The Pact of May (or maybe?) 09-03-2024 06:30 This month and the next stand to be the eye of a perfect storm – a rare moment in the always abnormal Argentine economy which is a nightmare for spenders and savers alike.
MERCOSUR TENSIONS Mercosur tensions: Uruguay rage overshadows hope for EU deal 08-03-2024 11:43 Uruguayan President Luis Lacalle Pou slams Argentina, Brazil governments for blocking his free-trade deal with China; Lula and Spanish PM Sánchez optimistic about long-trailed EU despite impasse.
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.
IMPACT OF AUSTERITY Financing the fiscal surplus: Stories behind reduction in state spending 08-03-2024 08:52 Argentina recorded its first monthly budget surplus in nearly 12 years in January, President Milei’s first month in office. But according to one analysis, a third of those spending cuts came from a refusal to update pension payments for inflation. A look at the faces behind the figures. by Agustina Bordigoni
#8M: OPINION & ANALYSIS Georgina Sticco: What do we mean when we talk about the gender gap? 08-03-2024 06:10 Women would have to work 91 days more than men to earn the same as them. Time dedicated to caregiving, lower quality jobs and remuneration in the unregistered sector are some of the things that produce this difference.
ENERGY & GAS YPF says fire sale to free up US$800 million for shale oil push 07-03-2024 17:51 State-run YPF SA says its sweeping plan to divest ageing oil fields will free up US$800 million to invest in renewed Vaca Muerta shale push formation.
SCIENCE & TECHNOLOGY Nobel laureates warn budget cuts are 'cancelling' research 06-03-2024 22:31 Sixty-eight Nobel laureates urge President Javier Milei to restore budgets for science and technology that have been cut under his drive to slash public spending.
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.
ECONOMIC FORECASTS Moody’s: Argentina will be only G20 economy to shrink this year 05-03-2024 08:53 According to Moody’s ratings agency, economic activity will contract by five percent his year – twice as much as previous forecast issued in November last year.
NEWS AGENCY SHUTTERED Government suspends Télam state news agency, puts workers on leave 04-03-2024 16:57 State news agency’s offices fenced off as workers are sent on leave for seven days; Website shut down for “reconstruction” as Télam’s staff take to streets in protest.
ECONOMIC INDICATORS Spending plunges at shops with Milei cuts hitting hard 04-03-2024 15:48 Spending at small- and medium-size businesses — Argentina’s largest sector of employment — plunged 25.5 percent in February from a year ago, the third straight month of double-digit losses.
COST OF CRISIS Food or medicine? Stark choice for the sick 04-03-2024 07:04 At pharmacies across Argentina, people are checking the price of medicines and opting not to purchase – even when it comes to antibiotics. As the economic crisis bites, healthcare has become a luxury some can’t afford.
EDITORIAL Pouring oil on the flames 02-03-2024 05:57 If the spark that lit the fire was the threat of Chubut’s PRO Governor Ignacio Torres to cut off all oil and gas unless the cutbacks were reversed, this might appear a wild outburst – but it was less random and accidental than it might seem.
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 – ANALYSIS A mix of amateurism and strategy 02-03-2024 05:19 The Milei-Caputo plan is trying to hammer down inflation through a painful recession, hoping that once the numbers begin to look encouraging, expectations will help spark a bonanza of investment and ultimately growth. It’s a risky strategy. by Agustino Fontevecchia
As I see it Politicians in the dog house 02-03-2024 05:01 Business, especially big business, has long had a bad press in Argentina. This is partly due to the willingness of politicians to blame it for their own failures, as happens whenever inflation gets out of hand. by James Neilson
STATE OF THE NATION – ANALYSIS Milei seeks pact with political leaders in bid to save reforms 02-03-2024 00:26 In his first annual address to lawmakers on Friday, Milei invited leaders from all parties to sign a 10-principle agreement that includes a “non-negotiable fiscal balance” and public spending cuts, as well as labour reform and free trade.
POLITICS Sign up to my reforms or face ‘conflict,’ Milei tells lawmakers 01-03-2024 22:34 President Javier Milei delivers aggressive yet gloomy state-of-the-nation speech, calls on his allies and enemies to sign up to his 10-point ‘Pacto de Mayo’ – or face the consequences.
ECONOMIC INDICATORS Brazil economy grew 2.9% in 2023, says official data 01-03-2024 16:08 Brazil's economy expanded 2.9% in 2023 after a fourth quarter of zero growth, according to data released Friday by the IBGE national statistics agency.
Business Billionaire Claure forges new empire after WeWork collapse 01-03-2024 07:22 Marcelo Claure is shaping his own investment empire after the pandemic dealt the final blow to the company WeWork, as the company kept losing billions
CORRUPTION & THE COURTS Former president Alberto Fernández charged in graft case 29-02-2024 20:05 Former president Alberto Fernández was charged Thursday with alleged embezzlement of public funds – now a judge must decide whether to prosecute.
EDUCATION & LABOUR Teachers' unions call national strike after failure of wage talks 29-02-2024 16:36 Education workers associated with CGT umbrella union group to stage walkout on Monday in protest at failure of wage renegotiation talks and spending cuts.
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.