News of economy

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.

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.

Record money-printing: 9.439 billion banknotes in circulation as Fernández leaves office

04-12-2023 18:01 The money moving around "the street" has gone up 80 percent in the last four years. On average there are currently 2,050 banknotes per inhabitant in circulation, none worth more than US$2 each.

'Badly measured' – Fernández questions official poverty rate

04-12-2023 13:53 President Alberto Fernández has questioned the INDEC national statistics bureau, saying he think that Argentina’s official poverty rate is “badly measured.”

The beginning of the end?

02-12-2023 10:18 If the popular vote failed to rally to defend acquired rights against Milei’s chainsaw, it is because those rights have been emptied for too many people falling outside the system.

Luis ‘Toto’ Caputo returns to fore with unenviable task

30-11-2023 14:54 President-elect Javier Milei confirms that Macri-era finance chief will be tasked with leading Argentina’s economy out of the doldrums and “defusing the bomb that the government is leaving behind.”

OECD: Argentina should think about ‘effectiveness of its social spending’

29-11-2023 12:22 OECD warns Argentina to assess "effectiveness of social spending" as it issues gloomy forecast for economy over next two years.

Milei confirms Luis Caputo will be economy minister

29-11-2023 08:19 President-elect says in interview upon return from trip to United States that both the Treasury and the IMF "understand Argentina's problems perfectly” and that ex-Macri administration official Luis Caputo will serve as economy minister.

Luis Caputo: 'Messi of finance' lines up with Milei

26-11-2023 18:05 Despite Javier Milei’s backing, the potential arrival of Luis Caputo to the Econony Ministry has sparked unrest within the ranks of La Libertad Avanza and underlined the influence of Mauricio Macri on Argentina's next government.

Javier Milei has a steep mountain to climb

25-11-2023 14:25 Is a “change of mentality” taking place? We should soon know the answer to that particular question – much will depend on how people react to the hard times that are barrelling towards us.

by James Neilson

Fed-up voters put Latin American leaders on thin ice

25-11-2023 12:43 Across the region, disgruntled voters have repeatedly toppled incumbents, often in favour of outsiders or inexperienced politicians.

IMF’s Georgieva, Milei discuss economic challenges in video call

25-11-2023 08:49 Argentina's president-elect Javier Milei and IMF chief Kristalina Georgieva had a first meeting via video call on Friday, in which they discussed the country's economic crisis. 

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.

Milei says Argentina heading for ‘shock’ fiscal therapy

23-11-2023 18:47 President-elect Milei warns Argentina faces ‘shock adjustment’; Inflation could take 18 to 24 months to calm, says libertarian.

Milei says Luis Caputo has expertise to be economy minister

23-11-2023 14:39 President-elect lauds former Central Bank president Luis Caputo, acknowledging he has the expertise to be the next government’s economy minister. 

Argentina gets delay on payment of US$16.1 billion in YPF case

23-11-2023 13:06 Judge agrees to temporarily delay enforcement of a US$16.1 billion court judgment against Argentina over its 2012 expropriation of oil company YPF.

Milei says no transition meeting planned as Massa decides to stay on

20-11-2023 18:39 Javier Milei says that "there is no meeting planned" with President Alberto Fernández and says responsibility for period until December 10 inauguration lies with head of state and Sergio Massa, who decides to stay on as economy minister.

Election result gives soymeal traders a new factor to weigh

20-11-2023 17:58 Javier Milei, who takes office December 10, has proposed dropping the peso and dollarising Argentina's economy. Such a move could boost farmer sales of soybeans, since they’d rather be paid in US dollars than a weaker local currency.

Wall Street welcomes Milei victory but warns of challenges ahead

20-11-2023 14:29 Analysts and investors welcome the prospect of radical change in Argentina but warn about deep challenges facing Javier Milei.

Milei says it could take two years to tame Argentina's inflation

20-11-2023 12:51 President-elect says it will take between 18 and 24 months to bring Argentina's rampant inflation under control as he outlined his plans to reform the economy.