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.
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 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.
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.
ECONOMIC CRISIS IMF says Milei's austerity measures should not hurt the poor 25-02-2024 13:42 IMF deputy managing director Gita Gopinath says in an interview that Argentina's austerity measures must be calibrated to ensure "the burden does not fall entirely on the poorest groups."
IMF DEBT PROGRAMME IMF deputy chief says Argentina needs 'consistent' monetary, exchange policy 23-02-2024 09:30 International Monetary Fund second-in-command Gita Gopinath said Argentina's government is making significant efforts to "restore macroeconomic stability" after meeting with President Javier Milei.
IMF DEBT PROGRAMME IMF number two in BA for talks as social unrest grows 21-02-2024 18:21 Deputy managing director of the International Monetary Fund, Gita Gopinath, begins two-day visit by meeting for four hours with key government officials.
Utilities on rise Electricity bills in Buenos Aires metro region to soar up to 150% 16-02-2024 11:06 Huge hikes announced by Energy Secretary Eduardo Rodríguez Chirillo; Monthly updating to kick in from April, but new rates will begin imminently.
RUNAWAY PRICE HIKES President Milei blasts inflation data, focused on reforms 15-02-2024 11:36 President Javier Milei blasts Argentina’s monthly inflation figure of 20.6% in January as “horrendous.”
FOREIGN POLICY & DIPLOMACY Milei’s Jerusalem visit signals Argentina’s support of Israel 05-02-2024 18:55 President Javier Milei chose Jerusalem as the destination of his first bilateral trip, underscoring his government’s willingness to bring Argentina closer to Israel.
IMF DEAL IMF denies it is discussing new programme with Argentina 02-02-2024 16:08 The International Monetary Fund is not negotiating a new programme with Argentina, says Kristalina Georgieva.
INTERNATIONAL MONETARY FUND IMF says Milei move to delay Argentina spending cuts is ‘pragmatic’ 02-02-2024 12:33 Kristalina Georgieva says IMF and Argentina aren’t discussing a new loan, says Javier Milei's new government has adopted a welcome and “dramatically different approach” to policy-making.
IMF DEBT PROGRAMME IMF authorises US$4.7 billion loan tranche, says Milei will remove currency controls 01-02-2024 18:25 International Monetary Fund signs off on fresh loan disbursement and reveals Argentina will lift currency controls this year – though it warns political and social unrest may lie ahead.
IMF Government awaits approval of IMF deal 31-01-2024 14:39 There is a maturity of US$1.9 billion on Wednesday and a further US$800 million the following day. A US$960-million repayment must also be made to CAF.
IMF DEBT PROGRAMME IMF to postpone Argentina review to give Milei more time 31-01-2024 12:28 Troubled nation’s quarterly review, scheduled for September, will move to November, according to Reuters. If confirmed, it would give the government greater scope to implement economic changes and potentially negotiate a new programme.
BLOOMBERG - ANALYSIS IMF sharply cuts Argentina’s growth forecast on Milei’s plan 30-01-2024 19:14 The government’s push to cut down on spending is “absolutely needed” to rein in inflation, which the IMF estimates will slow down to near 150 percent a year by December.
ECONOMIC OUTLOOK IMF cuts Argentina 2024 growth forecast, forecasts 2.8% contraction 30-01-2024 15:55 Multilateral lender warns that inflation is expected to increase in the short term, projecting growth of minus 2.8 percent this year and plus five percent in 2025.
IMF DEBT Milei vows to ‘keep promises’ after meeting with IMF chief 18-01-2024 01:15 President Javier Milei met IMF Managing Director Kristalina Georgieva after his speech to world leaders in Davos; Talks focused on Argentina’s US$44-billion programme and reaction to government’s austerity bid.
IMF DEBT PROGRAMME President to meet Georgieva in Davos after winning IMF support 16-01-2024 09:09 President Javier Milei will meet International Monetary Fund Managing Director Kristalina Georgieva on Wednesday at the World Economic Forum in Davos, Switzerland.
POLITICS & ECONOMY Chainsaw Plan Round 2: Government looks to deepen austerity 14-01-2024 10:19 Economy Minister Luis Caputo assures that there has been no fiscal shock so far in Argentina and that there is still room for further tightening. If President Javier Milei’s ‘Omnibus law’ does not pass through Congress, cutbacks will continue for state personnel, with cuts in overtime, the freezing of salaries, and the non-renewal of expiring contracts. by Juan Pablo Kavanagh
MARKETS Argentina bonds gain as Milei’s rework passes crucial tests 13-01-2024 08:58 Javier Milei capped his first month as president by winning approval from markets, providing a lift for his broader plans to overhaul Argentina’s economy.
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.
IMF DEBT DEAL Government reaches deal with IMF staff to unlock US$4.7 billion 10-01-2024 17:15 Argentina reached an agreement Wednesday with staff from the International Monetary Fund on the seventh review of the country’s US$44-billion programme.
IMF DEBT TALKS IMF mission team in Buenos Aires for talks with Milei government 05-01-2024 08:25 Argentina’s new government set to receive mission team from multilateral lender for talks over US$7.7 billion in maturities due this year; Milei administration considers IMF programme to be “virtually collapsed.”
IMF DEBT TALKS Government postpones IMF payments as it seeks new deal 04-01-2024 00:40 While awaiting the arrival of IMF officials for crunch talks over its multi-billion-dollar programme, Argentina’s government wants to unify its January commitments and push them to the end of the month. by Ramiro Speranza
IMF DEBT DEAL IMF to visit Argentina amid expectation of new agreement 03-01-2024 08:56 The IMF's press office confirmed the meeting for Thursday. Nicolás Posse and Luis Caputo will lead talks.
IMF DEBT Argentina to pay IMF next week, ‘reformulate’ deal, Caputo says 14-12-2023 19:02 Argentina will pay US$912 million owed to the International Monetary Fund next week, says Economy Minister Luis Caputo.
IMF DEBT DEAL Argentina to ask for waiver from the IMF 13-12-2023 16:59 International Monetary Fund praises new measures by Javier Milei's government, which wants to settle a payment due December 21 with funds from CAF Development Bank of Latin America and the Caribbean.
CABINET APPOINTMENTS 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.
Milei in America Milei makes contact with Biden administration in Washington 28-11-2023 22:52 Argentina's president-elect Javier Milei makes first contact with officials from US President Joe Biden's government.
IMF DEBT TALKS 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.
IMF DEBT PROGRAMME Javier Milei may find an unexpected friend in the IMF 21-11-2023 16:43 What will the relationship be like between Javier Milei and the International Monetary Fund, given the impact of Argentina's ongoing US$44-billion loan agreement?
ELECTION 2023: REACTION IMF chief looks forward to 'working closely' with Javier Milei 20-11-2023 11:18 Reacting to Javier Milei's election win, Kristalina Georgieva says she looked forward to working with Argentina's president-elect.
ELECTION 2023 As run-off nears, Massa draws a yuan bridge to avoid IMF pressures 14-11-2023 11:28 When an agreement was reached in August, the IMF’s board of directors wanted to distance itself from Argentina’s electoral process, preparing for the next stage of negotiations with the future government. An informal meeting, held after the October 22 elections, has placed in doubt the remittance of US$3.3 billion which the country needs to meet debt deadlines. The Economy Ministry has assembled a safety buffer with the Chinese currency swap, hoping to reach the next harvest in acceptable shape. by Ariel Maciel
IMF DEBT DEAL Massa says IMF will investigate ‘capital flight’ from US$45-billion loan 07-11-2023 15:18 Economy minister and ruling coalition presidential candidate anticipates that multilateral lender will send a commission to Argentina to study and investigate “capital flight” from multi-billion-dollar credit line contracted by Mauricio Macri in 2018.
IMF Argentina pays US$840 million in interest to IMF 06-11-2023 15:41 After dealing a debt maturity with the IMF in the amount of US$2.6 billion last week, Argentina will now cancel a further US$840 million in quarterly interest with the multilateral lender.
IMF DEBT DEAL Argentina pays US$2.6 billion maturity to IMF 01-11-2023 21:12 State news agency confirms Argentina's government made US$2.6-billion payment to settle maturity from record International Monetary Fund debt programme.
IMF DEBT PROGRAMME Argentina makes US$2.6-billion IMF payment as reserves drop 01-11-2023 12:16 Government complies with US$2.6-billion maturity, taking reserves to razor-thin levels.
WARNING FROM FUND IMF warns Argentina not to dawdle on incremental economic reform 14-10-2023 07:47 Argentina has no time to make gradual economic adjustments as it faces soaring consumer prices and its sixth recession in a decade, says top IMF official.
ECONOMIC OUTLOOK Argentina’s economy to contract 2.5% this year, says IMF 10-10-2023 12:56 Latest forecast from International Monetary Fund foresees 121.7% inflation and 2.5% GDP shrinkage in 2023; Report predicts 2.8% growth in 2024.
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.
IMF DEBT The IMF’s US$43-billion Argentina problem is about to get worse 06-10-2023 17:33 Geopolitics helped keep the credit flowing to Argentina. Even so, at some point the International Monetary Fund — and its biggest shareholder, the United States — might call time.
IMF DEBT PROGRAMME IMF confirms Argentina asked to postpone October payments 06-10-2023 14:52 Request confirmed by the global monetary watchdog on Thursday; Government will have to pay US$3.4 billion after the election.
CRITICISM FROM IMF IMF delivers rare public rebuke to Massa over cash handouts 28-09-2023 18:48 Spokesperson for multilateral lender says Sergio Massa’s cash handouts ‘add to Argentina’s challenges’ during press conference.
International Monetary Fund IMF says Argentina’s spending adds risks to US$44-billion deal 28-09-2023 15:41 “The recently adopted policy measures and announcements add to Argentina’s challenges,” IMF chief spokesperson Julie Kozack said at a press conference in Washington.
DOLLARISATION ON THE CARDS? Former IMF board member backs Milei’s dollarisation of Argentina 21-09-2023 23:14 Mark Rosen, a former US official on the IMF's board from 2019 to 2021, offers rare show of establishment support for Javier Milei's dollarisation proposal.
UNITED NATIONS GENERAL ASSEMBLY President Fernández uses final UNGA address to reiterate IMF, Malvinas demands 19-09-2023 20:44 President Alberto Fernández demands United States end "inadmissible" economic blockade of Cuba and sanctions applied to Venezuela in final address to United Nations General Assembly as head of state.
INTERVIEW / PERIODISMO PURO Alejandro Werner: ‘Trump would’ve backed Fernández and Biden would’ve Macri’ 02-09-2023 06:17 Former Western Hemisphere director for the International Monetary Fund and ex-Mexico government official Alejandro Werner on Argentina’s programme, political backing from Washington and the country’s troubled relationship with the multilateral lender. by Jorge Fontevecchia
EDITORIAL Blasts from the past? 26-08-2023 03:03 An often paranoid country’s attention being seized by the threat of mass lootings is understandable enough as evoking the 2001-2002 meltdown but it distracts attention from more potentially substantial developments.
IMF DEBT PROGRAMME IMF says Argentina must 'contain' public spending on wages, pensions 25-08-2023 11:36 IMF statement stresses need for Argentina to "contain spending on wages and pensions."