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...Government bankruptcies are fascinating because they are a heady mix of finance, economics, politics, geopolitics and the law....
...Analysts say the decision shows the government is increasingly confident that a decline in monthly inflation will continue despite the falling cost of borrowing....
...The government say that they have increasing funding for social programmes in the area....
...Milei’s government has also shut down 88 per cent of Argentina’s public works projects, which he says are a source of corruption....
...Caputo is attempting to eliminate Argentina’s fiscal deficit this year and end the government’s reliance on money printing....
...Argentina’s central bank has cut its benchmark interest rate by 10 percentage points to 70 per cent as the monetary authority seeks to reduce the amount of pesos it must print to pay interest on its liabilities...
...Those losses grew by $1.8bn in 2023 because of the devaluation of Argentina’s peso....
...One of the most prominent companies in Milei’s sights is Aerolíneas Argentinas, the airline renationalised in 2008, which controls about 60 per cent of Argentina’s domestic market and is the sole airline...
...His La Libertad Avanza coalition controls less than 10 per cent of senate seats....
...The result will threaten investor confidence in Milei’s government and could put downward pressure on prices for Argentina’s sovereign bonds and the peso, said Amilcar Collante, an economics professor at...
...Milei, a political outsider who won the 2023 election on a pledge to solve the country’s dire economic crisis, has said the US will be one of Argentina’s main allies under his government....
...Bus and subway fares, for example, are set to rise by as much as 360 per cent in the coming months, officials in some of Argentina’s 24 regional governments have warned, after Milei scrapped a $124mn regional...
...The UK-based lender will book a $1bn hit to its pre-tax earnings in the first quarter of 2024 as a result of the sale, the latest in a series of moves to sell off parts of its operations....
...“If the government was trying to demonstrate its political ability to build agreements, this is a very grave result,” said Juan Cruz Díaz, managing director of Argentina’s Cefeidas political advisory firm...
...Argentina’s confederation of unions has already held a nationwide general strike against his government and several smaller protests have taken place....
...Hundreds of thousands of workers in Argentina will hold a strike this week against libertarian President Javier Milei’s economic reforms, a union leader has said, accusing the government of “breaking the...
...It is not in Argentina’s interest for Milei’s economic plans to fail: the alternative could be government paralysis and hyperinflation....
...Argentina appealed the judgment to the US Court of Appeals for the Second Circuit in October last year....
...Economy minister Luis Caputo said in a recorded television message on Tuesday that chronic overspending by the government lay at the root of Argentina’s perennial economic crises of the past decades....
...lay at the root of Argentina’s perennial economic crises of the past decades....
...Nicolás Dujovne, a former economy minister in Argentina’s 2015-19 centre-right government, said: “Much of the fall Argentina is experiencing is a normalisation that will eventually allow it to return to...
...— Argentina recently had a big win in court thanks to a “magic bullet” in its GDP warrants, via Friends of Alphaville Mitu Gulati and Mark Weidemaier (Clauses & Controversies) — Banks seem . . . not uniformly...
...For its part, China has opted not to release any more of the $18.5bn currency swap line it had activated with the outgoing Peronist government, and the countries are discussing how soon Argentina must pay...
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