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Argentine domestic politics
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Bolivian President distances himself from adviser Fernando Cerimedo
Bolivian President Rodrigo Paz publicly distanced himself from former adviser Fernando Cerimedo following the Argentine consultant's arrest for the attempted femicide of lawyer Nadia Beller in Santa Cruz de Sierra. Cerimedo, who previously worked for right-wing leaders including Javier Milei and Jair Bolsonaro, is now held at Palmasola Prison while facing additional investigations for money-laundering and the alleged protection of drug traffickers. Beller, who survived three gunshot wounds, alleged that Cerimedo orchestrated the attack to silence her regarding corruption involving the Paz administration and the First Lady's family. While Paz denied any formal contract or direct working relationship, investigations have been opened into the consultant after prosecutors discovered $43,000 in cash and an alleged social media 'bot farm' at his residence.
Vatican confirms Pope Francis visit to Argentina, Uruguay, and Peru
The Vatican confirmed that Pope Leo XIV is scheduled to visit Argentina, Uruguay, and Peru from November 6 to 17. This tour marks the first papal visit to Argentina in nearly 40 years, as the previous pontiff, Francis, never returned to his home country during his tenure. The trip includes a tentative itinerary of activities in Buenos Aires, Córdoba, and Luján, with security and logistics managed by a committee led by Presidential Chief-of-Staff Karina Milei.
Argentine deputies approve bill to restrict Central Bank money printing
The Argentine Chamber of Deputies approved a bill to reform the Central Bank’s charter with 144 votes in favor, 102 against, and 9 abstentions, aiming to restrict the bank from printing money to finance the Treasury. President Javier Milei proposed the legislation to combat inflation by banning transitory advances to the Treasury, limiting profit transfers, and removing objectives related to employment and economic development. Opposition lawmakers criticized the bill, specifically questioning the autonomy of Central Bank Governor Santiago Bausili due to his professional ties with Economy Minister Luis Caputo. The bill now heads to the Senate, where the administration lacks a majority and faces the challenge of securing enough support to enact the reform.
Government launches plan to revive mortgage lending
Economy Minister Luis Caputo announced a AR$2 trillion plan to revive mortgage lending in Argentina by using the Sustainability Guarantee Fund (FGS) to guarantee long-term bank deposits. The program, which aims to provide housing solutions for 17,000 to 18,000 families, is intended to address the low level of mortgage loans in the country, which currently account for roughly 2% of GDP. The government plans to execute the funding through auctions of AR$200 billion each, with the first scheduled for early September.
Six convicted for crimes against humanity in Buenos Aires and Patagonia
Six former military and intelligence officials were convicted this week for their roles in crimes against humanity committed during Argentina’s 1976–1983 dictatorship. These included life sentences for two individuals operating in the Patagonia region, as well as a 16-year sentence for Gonzalo “Chispa” Sánchez, a member of the Task Force 3.3.2 who was involved in 178 kidnappings at the Navy School of Mechanics (ESMA). The trials addressed systematic repression across multiple clandestine detention centers, including the ESMA in Buenos Aires and La Escuelita in Neuquén, where thousands were held, tortured, or murdered. These convictions hold particular significance for the Grandmothers of Plaza de Mayo, as 19 of the cases are linked to the appropriation of children born in captivity.
Economic recovery slows in Argentina under President Milei
Argentina’s economic recovery has decelerated, with economists downgrading 2024 growth forecasts from 3.5 percent to 2.7 percent due to stagnant activity observed since December. President Javier Milei’s administration faced challenges in the second phase of its economic strategy, as output likely contracted by 0.4 percent during the second quarter. While sectors like mining, energy, and agriculture showed momentum, manufacturing, construction, and commerce weakened, leaving the broader economy growing at approximately two percent annually. Central Bank Governor Santiago Bausili attributed this slow growth to the government’s commitment to a tight monetary policy and a decision to avoid international borrowing.
LLA seeks to approve two key economic bills in Congress
The Lower House in Argentina prepared to debate two key legislative proposals from President Javier Milei’s administration, specifically concerning reforms to the Central Bank’s charter and tax incentives for formalizing offshore dollar holdings. To secure necessary votes, the ruling La Libertad Avanza party reached agreements with provincial blocs to include secondary measures, such as a reduction in the value-added tax on cassava. These sessions followed a legislative setback in August where the government was forced to remove significant provisions from a Private Property Rights reform bill due to insufficient opposition support. Additionally, the agenda included the ratification of the Patents Cooperation Treaty and a free trade agreement between Mercosur and Singapore.
Oxtail prices double in Argentina amid meat import restrictions
Oxtail prices in South Africa doubled from approximately R79–R99/kg earlier this year to R169–R199/kg following a suspension of imports from Argentina, which typically supplies 70% of South Africa’s domestic demand. The trade disruption originated from a bureaucratic dispute involving an erroneous reference to 'ovine scrapie' on an import certificate, which the South African Department of Agriculture subsequently replaced with new requirements regarding foot and mouth disease (FMD). The Association of Meat Importers and Exporters (AMIE) challenged the department to provide scientific evidence for these new rules, arguing that they exceed international standards set by the World Organisation for Animal Health for FMD-free zones.
Argentina's Inflation Rate Rose to 2.1% in July
Argentina’s consumer price index rose by 2.1% in July 2026, marking the first monthly re-acceleration of inflation after a period of steady decline. The INDEC statistics agency attributed the increase largely to a 4.5% jump in seasonal prices, specifically within the recreation and culture sector due to winter holiday tourism costs. While President Javier Milei previously projected that monthly inflation would reach sub-1% levels by August 2026, the current central bank survey indicates that monthly readings will likely remain between 1.6% and 1.8% through January 2027.
Aeroparque Airport to Close for Runway Maintenance August 25-27
Aeroparque Jorge Newbery in Buenos Aires closed for a 55-hour window from 9 a.m. on August 25 to 4 p.m. on August 27 for preventive runway maintenance and resurfacing. The disruption affected approximately 900 flights, with 540 diverted to Ezeiza Ministro Pistarini and 360 rescheduled by various carriers, including Aerolíneas Argentinas, JetSmart, and Flybondi. The operator, Aeropuertos Argentina 2000, and the aviation regulator ANAC coordinated the closure to conduct essential infrastructure work that required the runway to be clear of all aircraft operations.
Former Techint director confirms payments to Baratta in 'Cuadernos' case
Former Techint administrative director Héctor Zabaleta testified in a Buenos Aires court that he delivered approximately US$1 million in cash to Roberto Baratta, a former official under the administration of Cristina Fernández de Kirchner, during 2008. Zabaleta confirmed that he made six payments on the instructions of then-Techint director Luis Betnaza, allegedly under threat that failure to pay would result in a gas supply cutoff to a company plant. Betnaza stated these payments were intended to cover the costs of repatriating Argentine workers during the 2008 nationalization of Techint’s Sidor steel plant in Venezuela. This testimony serves as a development in the ongoing 'Cuadernos' corruption case, which investigates allegations that businessmen paid millions of dollars in bribes to Kirchner-era officials to secure infrastructure contracts.
Caputo Proposes Law to Penalize Journalists for Unfounded Reports
On 25 August 2026, Argentine Economy Minister Luis Caputo demanded the passage of a law to penalize journalists for publishing information he deemed unfounded. The demand was triggered by a social media post linking Caputo to a businessman named Julio Made and a 'grupo Lenor' allegedly favored by a fuel decree signed by the minister. President Javier Milei publicly endorsed the proposal by reposting the message with the caption 'DESENMASCARANDO MENTIROSOS'. While the government labeled the journalism as an attack, major press associations ADEPA and FOPEA did not issue a statement regarding this specific episode.
YPF Seeks $16 Billion Loan as Argentine Congress Reviews Reforms
YPF hired JP Morgan to secure up to US$16 billion in project finance for Phase 3 of its Argentina LNG project, which aims to liquefy and export gas from the Vaca Muerta shale formation. The project, which requires an estimated US$20 billion in total investment, involves partners including Eni and ADNOC’s XRG, each holding roughly a one-third stake. JP Morgan has contacted over 200 financial institutions to finance the effort, which represents the largest private project finance loan in the history of Argentina. A final investment decision is targeted for the second half of 2026, with the goal of beginning exports by 2030-31.
Argentina reports stagnant formal private employment levels since 2016
Argentina’s formal private-sector employment has remained stagnant since 2016, with approximately 6.13 million registered workers recorded as of May. Despite a 4.9 percent increase in economic activity compared to November 2023, formal private wage employment contracted by 3.8 percent during the same period, resulting in the loss of 241,000 jobs. Key sectors including trade, manufacturing, and construction led these declines, with industry losing nearly 90,000 jobs since September 2023.
Argentine industrial sector records decline in July
Industrial activity in Argentina fell by 0.4% in July according to research firm Orlando Ferreres & Asociados, contributing to a 2% decline for the first seven months of the year compared to 2023. Data from the Argentine Industrial Union (UIA) similarly recorded a 0.6% monthly drop, noting that manufacturing performance reached levels 10% lower than those observed during the 2022 and 2023 periods. The automotive sector experienced the sharpest monthly decline at 6.8%, while exports to Brazil, Argentina’s largest trading partner, fell by 12%. Reports from the Center for Political Economy (CEPA) indicated that approximately 1,700 industrial companies closed since President Javier Milei took office, resulting in 39,000 job losses within the sector.
Project to install a gift shop at a Recoleta Cemetery vault gets cancelled
Buenos Aires City Judge Roberto Gallardo ordered the local government to cancel plans to install a gift shop and café inside a private vault at the historic Recoleta Cemetery. The administration had initiated an expropriation process against the Girado family, citing over AR$37.7 million in unpaid maintenance and repair debts accumulated since 2007. The project was halted following a legal protection writ filed by family heirs, who claimed they received no notifications and disputed the government's characterization of the vault as abandoned. While the city maintained that formal notices were published, the judiciary intervened after a site visit confirmed the presence of coffins within the structure.
LCG projects Argentina's annual exports to exceed US$100 billion
Buenos Aires consultancy firm LCG projected that Argentina's annual exports would reach a record US$103.74 billion by 2026, surpassing the previous 2022 high of US$88.85 billion. This anticipated growth, which is expected to yield a trade surplus exceeding US$20 billion, was attributed to expansions in the agricultural, energy, and mining sectors, including record maize harvests, increased soybean oil prices, and rising lithium production. While LCG noted that Middle East tensions contributed to higher crude oil prices and export values, it projected that imports would decline by three percent due to suppressed domestic consumption and industrial activity.
Tierra del Fuego criticizes national government over British ship docking in Ushuaia
The government of Tierra del Fuego denounced the docking of the British-flagged oil tanker VS Promise at the port of Ushuaia after the vessel received authorization from Argentina’s national government. This incident occurred following the national government's January takeover of the Ushuaia port, an action previously criticized by provincial authorities who now contest the legality of the intervention. The provincial government formally rejected the vessel's presence, citing the United Kingdom's ongoing occupation of the Malvinas, South Georgia, and South Sandwich Islands, which Argentina claims as part of its provincial territory. Provincial officials highlighted that the national government had justified the port's takeover by citing the need to safeguard national sovereignty and interests in the South Atlantic.
JPMorgan and Santander lead financing for Argentina LNG project
JPMorgan Chase & Co. and Banco Santander SA led efforts to arrange financing between US$14 billion and US$15 billion for the Argentina LNG project, an initiative with a total estimated cost of US$24 billion. The project, a venture between state-run YPF SA, Italy’s Eni SpA, and Abu Dhabi’s XRG, involves building an offshore liquefaction terminal, two pipelines, and a natural gas liquids plant to export shale gas. This development followed project finance revitalization under President Javier Milei’s free-market reforms, with the project applying for the government's RIGI investor initiative. Partners aimed to reach a final investment decision by late November.
Argentine wholesale peso crosses 1,500 against US dollar
On Monday, August 24, Argentina’s wholesale peso rate closed at 1,507 per dollar, marking the first time the currency traded through the 1,500 threshold. The 11-peso increase represented the largest single-session rise since June 3, occurring alongside a sell-off in sovereign bonds that pushed country risk to 505 basis points as of August 21. Market rates reflected this movement, with Banco Nación’s retail rate reaching 1,525 for sellers and the contado con liquidación (CCL) trading near 1,599. The decline in the peso relative to the dollar occurred in the absence of immediate electoral pressure, as the country's midterms took place in October 2025 and national elections are not scheduled until October 2027.
Argentine peso weakens and Buenos Aires city airport announces temporary closure
On August 25, the Argentine wholesale peso fell past the 1,500 threshold to close at 1,507 against the dollar, marking the currency's largest single-session move since June 3. Concurrently, the Aeroparque airport in Buenos Aires commenced a 55-hour closure for runway maintenance, impacting approximately 900 flights. This economic and logistical volatility occurred amid shifting expectations for U.S. monetary policy, with markets pricing in a potential Federal Reserve rate increase rather than a cut ahead of the Jackson Hole symposium.
Swiss Medical reports clerical error in Maradona death investigation test records
Swiss Medical admitted that medical test results submitted to a court investigating the 2020 death of Diego Maradona were mistakenly attributed to the football icon but actually belonged to his late father, Diego Salustiano Maradona. The error was identified by a defense lawyer representing one of the seven healthcare professionals currently on trial for allegedly providing inadequate care to the athlete before his death from heart failure. Because a medical expert had based his testimony regarding Maradona's kidney health on these erroneous documents, the court suspended proceedings for one week. This development follows a prior trial collapse last year caused by a conflict of interest involving a judge.
Argentina implements 3% GDP tax cuts
Since taking office in December 2023, the administration of President Javier Milei implemented tax cuts equivalent to 3% of GDP, primarily targeting the PAÍS tax, export taxes, and personal property taxes. The expiration of the PAÍS tax accounted for 43% of the revenue loss, while the government simultaneously increased fuel and income taxes to maintain fiscal balance. Despite these efforts, data from the Argentine Center for Fiscal Analysis indicated that the economy failed to grow sufficiently, leading to a cycle where declining tax revenue necessitated further spending cuts. Consulting firm Vectorial reported that July 2026 data showed signs of fiscal deterioration, marking the worst figures for that period since Milei began his term.
Argentina's Milei leads 2027 polls amid economic concerns
Argentine President Javier Milei confirmed his intention to seek re-election in 2027, despite polling data indicating that 54.5% of respondents favor a change in government. While Milei maintains a lead among potential candidates with 32.4% support, he faces significant public dissatisfaction linked to the perception that household economic situations have worsened. Opposition figures such as former President Cristina Fernández de Kirchner and Buenos Aires Province Governor Axel Kicillof remain potential competitors, though Fernández de Kirchner is currently barred from holding public office. The president’s electoral prospects appear tied to his ability to translate macroeconomic stabilization, such as lower inflation, into improved household economic conditions.
Argentina's Central Bank Reserves Reach US$50.655 Billion
On August 21, 2026, Argentina’s Central Bank (BCRA) reported record gross reserves of US$50.655 billion, an increase driven largely by an accounting revaluation of gold holdings rather than fresh capital inflows. While the gross figure reached a seven-year high, the bank did not disclose net reserve levels, which analysts maintain are significantly lower and more indicative of the country’s actual liquidity. Concurrent with this financial reporting, the Chamber of Deputies prepared to vote on a charter reform—expediente 0171D—intended to prohibit the BCRA from financing the national Treasury. Despite these developments, Argentina’s country risk remained elevated at 505 basis points, even as the S&P Merval index rose by 1.3%.
Buenos Aires cultural centers grow despite lack of government support
Neighborhood cultural centers in Buenos Aires, such as Cultural Morán, Cuerda Mecánica, and La Minga, expanded their presence by hosting music, theater, and community workshops. This growth occurred as government support for the cultural sector declined, prompting artists to utilize these intimate spaces to reach audiences, experiment with formats, and build careers. Operators like Olenka Tylka and Santiago Bajder of Cuerda Mecánica sought to decentralize arts access by establishing venues in residential areas, viewing them as both professional springboards and neighborhood refuges.
Argentine Households Increasingly Use Debt for Basic Expenses
Approximately 91.7% of Argentine households, totaling 20.9 million people, held debt as of March 2026, with data indicating that 64% of borrowing was directed toward basic needs such as food, medicine, rent, and utility bills. Salvador Femenía of the Argentine Confederation of Medium-Sized Enterprises (CAME) attributed the trend to a decline in purchasing power, as wages failed to keep pace with the cost of essential goods. The Centro de Economía Política Argentina (CEPA) reported a 15.5% arrears rate, a figure that includes both traditional banks and digital wallets, while provincial ombudsman reports identified a significant reliance on credit for survival in Buenos Aires province.
Argentina Transfers 560 km of Highways and Railway to Río Negro Province
On 24 August 2026, Argentine cabinet chief Diego Santilli, economy minister Luis Caputo, and Río Negro governor Alberto Weretilneck signed an agreement at the Casa Rosada to transfer operational control of 560 km of National Routes 22 and 151, along with the Tren del Valle, to the Río Negro province. While the federal government retained ownership of the infrastructure, the province gained full decision-making authority for road maintenance, technical design, and contracting for a 20-year term. The transfer of the Tren del Valle is subject to a six-month transition period before the province assumes full operation.
Argentina Trade Surplus Reaches US$2.1 Billion in July
Argentina recorded a trade surplus of US$2.115 billion in July 2026, driven by a 14.1% increase in exports alongside a 1.7% decrease in imports. According to INDEC, the surplus slightly trailed the US$2.194 billion reported in June, though total trade rose 6.7% year-on-year to US$15.593 billion. Growth was significantly supported by the energy sector, where the Vaca Muerta shale formation helped achieve a first-half energy trade surplus of US$5.076 billion, a 61.7% increase from the previous year. Meanwhile, a potential trade deal between Mercosur and Singapore moved closer to realization following a favorable committee report in the Chamber of Deputies on August 12.
Mendoza High Court overturns acquittal of former nun in child abuse case
The Supreme Court of Mendoza Province overturned the 2023 acquittal of former nun Kumiko Kosaka, who was accused of abusing deaf children at the Instituto Próvolo between 2005 and 2016. Kosaka, a 51-year-old Japanese national, was convicted in relation to five victims and now faces a potential prison sentence of up to 50 years. This ruling followed previous convictions of other staff members, including priests Horacio Corbacho and Nicola Corradi, who were sentenced in 2019 for their roles in the abuse scandal. Plaintiffs' lawyers stated the decision served as a vindication for the victims, confirming the court viewed the original acquittal as arbitrary.
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