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Milei

In Spain 22nd May 2024

Sánchez recalls Spanish ambassador to Argentina because Milei called his wife “corrupt” and refuses to apologise

The disagreements between the Argentine and Spanish presidents go back a long way: Sánchez already called Milei a “reactionary” and refused to congratulate him when he won the elections in Argentina. But things got complicated when a Spanish government minister, Oscar Puente, publicly insinuated that Milei was on drugs. The Argentine government demanded an apology from the Spanish government, which the latter refused to offer. So last weekend, at a…

Milei

World economy 13th December 2023

Milei’s first measures in Argentina: 54% devaluation of peso and massive cuts in public spending (2.9% of GDP)

In Argentina we have the first measures with Milei at the helm: devaluation of the peso by 54%, which takes it from 366 to 800 pesos per USD, forecast monthly devaluations of 2% from now on, and massive cuts in public spending (2.9% of GDP) with the aim of eliminating the primary fiscal deficit by 2024. The IMF welcomes the measures, which it believes will help stabilise the economy and…

Milei

Relevant News Item 20th November 2023

Javier Milei to be new president of Argentina after winning election with 55.69% of votes

With a turnout of 76% and 99.26% of the polling stations counted, the leader of La Libertad Avanza obtained 55.69% of the votes compared to Sergio Massa’s 44.30%. Moreover, he did so in all provinces. Milei won the elections by proposing a radical change in the system in a country jaded by traditional politics, which has experienced a 142% increase in inflation in the last 12 months and a 50%…

ArgentinaTC

In the World, World politics 23rd October 2023

Current economy minister Massa pulls off surprise win in first round of Argentina presidential election

Bankinter| Sergio Massa has sprung a surprise and won the first round of the presidential elections in Argentina. With 99% of the votes counted and a 78% turnout, the current Minister of Economy and candidate of the current coalition governing Argentina (Unión por la Patria) obtained 36.7% of the votes. Javier Milei (La Libertad Avanza), who until now had been leading the pre-election polls, obtained 30.0% of the votes. The…

Empty pockets TC

World economy 8th June 2022

What To Expect From Sri Lanka’s Debt Restructuring? Lessons From Argentina And Ecuador

Alicia Garcia Herrero & Junyu Tan (Natixis) | After the pre-emptive announcement to suspend all foreign debt repayments until discussions for an IMF bailout are completed, on May 18 Sri Lanka stepped into the dangerous path of a sovereign default as it missed the 30-day grace period on its USD 78 million worth coupon payments originally due April 18. Against this backdrop, investors’ key question is how deep the debt…

Argentina default noveno

In the World, World economy 11th September 2020

Argentina: IMF Talks To Take Centre Stage

While the new bonds may continue to benefit from a weak US dollar and the lower-for-longer global rate environment, the challenging economic outlook and ongoing uncertainty around the IMF talks will likely cap the yield compression potential.

Argentina has officially asked for help from the IMF

World economy 11th May 2018

Argentina Puts Itself Into The Hands Of The IMF

President of Argentina, Mauricio Macri, has not taken long to see the writing on the wall: he has officially asked for help from the IMF. On Monday, the peso/$ devalued 5%, which is a savage drop. Domestic and foreign equity have completely lost confidence in the economic governance and have fled terrified, with huge losses, given the peso’s accumulated depreciation.