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Milei, who is pledging economic shock therapy such as shutting the central bank and dollarization, won a second-round runoff vote on Sunday with some 56% to rival Sergio Massa's 44%. Milei now faces the huge challenge of turning around the economy once he takes office on Dec. 10. "It is an economy that is in intensive care," said Miguel Kiguel, a former undersecretary of finance at the Economy Ministry in the 1990s. A central bank poll of analysts forecast 185% inflation by the end of the year. In a bid to tamp down inflation Argentina's central bank has hiked the benchmark interest rate to 133%, which encourages saving in pesos, but hurts access to credit and economic growth.

Persons: Javier Milei, Sergio Massa's, Milei, Miguel Kiguel, Lucio Garay Mendez, Vaca Muerta, Eugenio Marí, Hernan Nessi, Adam Jourdan, Daniel Wallis, Chris Reese Organizations: Economy Ministry, Reuters Graphics Reuters, Coldplay, Reuters Graphics, CENTRAL, International Monetary Fund, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, dollarization, Argentina, China, Brazil

☆ Argentina's Trump-like presidential candidate, who proposed making the US dollar the country's official currency, wins election after his opponent concedes defeat
▼ + stars: | 2023-11-19 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

A self-described "anarcho-capitalist" candidate often compared to Donald Trump claimed victory in Argentina's presidential election. With a Milei victory, the country will swing to the right amid discontent over soaring inflation and rising poverty. AdvertisementArgentina's Economy Minister Sergio Massa conceded defeat to populist Javier Milei in Sunday's fiercely polarized presidential runoff even before the country's electoral authority released official results. AdvertisementThe vote took place amid Milei's allegations of possible electoral fraud, reminiscent of those from Trump and former Brazilian President Jair Bolsonaro. Without providing evidence, Milei claimed that the first round of the presidential election was plagued by irregularities that affected the result.

Persons: Donald Trump, Javier Milei's, Sergio Massa, —, Javier Milei, Massa, Milei, Milei's screeds, I'm, Esteban Medina, Jenifer Pio, Pio, Ana Iparraguirre, Massa's, María Gabriela Gaviola, hasn't, isn't, Gaviola, I've, Patricia Bullrich, Milei's, Victoria Villaruel, Jair Bolsonaro Organizations: Argentina's, Service, Argentine, Massa, Associated Press, Peronist, University of Buenos Aires Law School, AP, Theater Locations: Buenos Aires, Argentina, Trump

☆ Argentines vote in election that could lead Trump-admiring populist to the presidency
▼ + stars: | 2023-11-19 | by ( ) www.cnbc.com time to read: +2 min

Javier Milei presidential candidate of the La Libertad Avanza (Freedom Advances) party, speaks at the campaign closing event on Oct.18, 2023. Voters in Argentina head to the polls Sunday in a presidential runoff election that will determine whether South America's second-largest economy will take a rightward shift. Populist Javier Milei, an upstart candidate who got his start as a television talking head, has frequently been compared to former U.S. President Donald Trump. The highly polarizing election is forcing many to decide which of the two they consider to be the least bad option. "It would be incredible for Massa to win in this economic context or for Milei to win facing a candidate as professional as Massa."

Persons: Javier Milei, Donald Trump, Sergio Massa, Massa, Lucas Romero, Milei, I'm, Esteban Medina Organizations: La Libertad, Peronist, Massa, Associated Press Locations: Argentina, Argentine, Buenos Aires

The economy is likely already in recession and is expected to contract again next year. Shortly after being sworn in as economy minister, Massa in August 2022 pledged to stop printing money to fight inflation. "Markets will likely prefer a Milei victory simply because he is more credible on delivering the fiscal adjustment." "Every investor understands that the macroeconomic adjustments that Argentina needs will inevitably translate into short-term pain." For investors, Argentine stocks traded in New York (.MIAR00000PUS) have been a beacon of hope, up near 15% year to date.

Persons: Sergio Massa, Javier Milei, Luis Robayo, Pilar Tavella, Alejo Czerwonko, Massa, Carlos de Sousa, UBS's, JPMorgan's Diego Celedon, Celedon, Rodrigo Campos, Adam Jourdan, Lisa Shumaker Organizations: por la Patria, La Libertad, University of Buenos, Law School, Global, Peronist, Barclays, Reuters Graphics Reuters, Argentina, Monetary Fund, Itau, IMF, Emerging, UBS Global Wealth Management, Vontobel Asset Management, Argentine, UBS, Thomson Locations: Argentina, University of Buenos Aires, Buenos Aires Argentina, New York, Argentine, outperforming

[1/4] Argentina's presidential candidate Sergio Massa speaks during a press conference a day after the first round of Argentina's presidential election, in Buenos Aires, Argentina October 23, 2023. But they are cautious about making hard predictions on the back of two bruising election surprises. However, pollsters Reuters spoke to said it was a "wide open" race and that either candidate could triumph. Lautaro Díaz, 35, who intends to vote for Milei, said Bullrich's backing had made the "possibility of (Milei) winning more real." Federico Aurelio, head of pollster Aresco, said the race was wide open, with plenty of time for skeptical voters to change their minds.

Persons: Sergio Massa, Cristina Sille, Javier Milei, Milei, pollsters, Vilker, Trespuntozero, Massa, Patricia Bullrich, Analogias, Bullrich, Lautaro Díaz, Matteo Bettini, Federico Aurelio, pollster Aresco, Nicolas Misculin, Horacio Soria, Adam Jourdan, Rosalba O'Brien Organizations: REUTERS, pollsters Reuters, Milei, Massa, University of San, Atlas Intel, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Massa, University of San Andres, Peronist

☆ Argentina drivers hunt for fuel 'like water in the desert' amid shortage
▼ + stars: | 2023-10-30 | by ( Eliana Raszewski | ) www.reuters.com time to read: +4 min

"The truth is that I work with the car and it's like looking for water in the desert," said 38-year-old Cabify driver Raul Paretto. "It is distressing because you don't know on a day-to-day basis what can happen; we are living one day at a time." EXPORT HALT THREATOil executives cited planned halts at local refineries, which provide 80% of domestic supply, and the country's scarce foreign currency reserves that have held up imports. Argentina's government has fixed a local oil price at $56 per barrel, far below the international price around $86 to try to calm local inflation of nearly 140%. loadingA second industry source, also declining to be named, also said that the issue was not output, but issues in refining the crude oil and the hurdles to bringing in imports.

Persons: Sergio Massa, Javier Milei, Raul Paretto, Leonardo Villa, Jorge Chemes, Massa, Vaca Muerta, Eliana Raszewski, Claudia Martini, Maximilian Heath, Adam Jourdan, Barbara Lewis, Jonathan Oatis Organizations: Argentine Rural Confederations, Reuters, Thomson Locations: BUENOS AIRES, Argentine, Peronist, Buenos Aires, Argentina, Vaca

☆ Argentina's Milei nabs key endorsement, but critics quickly pounce
▼ + stars: | 2023-10-25 | by ( Nicolás Misculin | ) www.reuters.com time to read: +2 min

[1/3] Conservative Patricia Bullrich, who finished third in the first round of Argentina's presidential election, attends a press conference next to Luis Petri, in Buenos Aires, Argentina October 25, 2023. While Patricia Bullrich's endorsement could lead many of her center-right coalition's voters to also support the combative outsider Milei, criticism from within her Together for Change coalition showed at least some will not follow her lead. Bullrich's public backing of Milei quickly stoked divisions in the coalition she led, which months ago was the odds-on favorite to replace Massa's Peronists. Gerardo Morales, head of the more moderate Radical Civic Union party within Bullrich's coalition, derided her endorsement as "irresponsible," adding that the party will not endorse Milei or Massa. Analysts suggest the overall impact of Bullrich's endorsement will be limited, as some of her supporters will probably break for Massa.

Persons: Patricia Bullrich, Luis Petri, Matias Baglietto, Javier Milei, Patricia Bullrich's, Sergio Massa, Milei, Bullrich's, Bullrich, Mauricio Macri, Gerardo Morales, Horacio Rodriguez Larreta, Nicolas Misculin, David Alire Garcia, Steven Grattan, Diane Craft Organizations: REUTERS, Peronist, Massa, Massa's, Radical Civic Union, Buenos Aires, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Bullrich's, Massa, Buenos

Up for grabs are 8.8 million votes that went to the three losing candidates, conservative Patricia Bull, moderate Peronist governor Juan Schiaretti and leftist Myriam Bregman. Reuters GraphicsSchiaretti and Bregman, both left-leaning, in theory should shed most of their combined 2.5 million votes to Massa in the Nov. 19 head-to-head. Bullrich's 6.3 million would likely favor Milei more, but moderates in her coalition could shift to Massa. Centrist Buenos Aires city mayor Horacio Larreta lost the conservative Together for Change's internal primary to Bullrich, but did get nearly 2.7 million votes, many of which shifted to her. Luana Molenberg, a 20-year-old worker in Buenos Aires, said she hoped the anti-Milei vote would get behind Massa: "I'm very afraid that Milei will win."

Persons: Sergio Massa, Javier Milei, Agustin Marcarian, Patricia Bull, Juan Schiaretti, Myriam Bregman, Milei, Massa, Shila Vilker, Trespuntozero, Cristina Fernandez de Kirchner, Horacio Larreta, Ramiro Vitale, Luana, Federico Aurelio, Nicolas Misculin, Juan Bustamante, Adam Jourdan, Aurora Ellis Organizations: Argentine, University of Buenos, Law School, REUTERS, Peronist, Massa, International Monetary Fund, Reuters, Reuters Graphics, Reuters Graphics Reuters, Thomson Locations: University of Buenos Aires, Argentina, BUENOS AIRES, South, Bullrich, Buenos Aires

Argentina's presidential candidate Sergio Massa addresses supporters, as he reacts to the results of the presidential election, Argentina October 22, 2023. Bonds have also been slipping, while the stock market - seen as a relative safe haven for local investors - has been jittery. A local market operator, who asked not to be named, agreed there would likely not be a big market slide on Monday. "I believe the market will open downwards but there will be a floor at which there would be some demand," he said. Reporting by Jorge Otaola and Walter Bianchi; Editing by Adam Jourdan and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Mariana Nedelcu, Javier Milei, Salvador Vielli, Vielli, Bonds, Patricia Bullrich, Roberto Geretto, Adcap, Milei, Jorge Otaola, Walter Bianchi, Adam Jourdan Organizations: REUTERS, Peronist Economy, Massa, Thomson Locations: Argentina, BUENOS AIRES, Milei

[1/2] Argentina's presidential candidate Sergio Massa gestures during a press conference a day after the first round of Argentina's presidential election, in Buenos Aires, Argentina October 23, 2023. Local media reported similar though more informal campaigns in some hospitals, and the energy secretary warned the price of subsidized gas could double. 'CHAINSAWING' THE WELFARE STATE? "At the other end of the chainsaw he totes at rallies are the pocketbooks of millions of Argentines," he added. Additional reporting by Candelaria Grimberg and Lucinda Elliott; Editing by Adam Jourdan and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Cristina Sille, Sergio Massa's, Javier Milei, Massa, Milei, Amparo Anzaldi, Benjamin Gedan, Wilson, Cristina Fernandez de Kirchner, Ana Monclus, meanwhile, Anna, Catherine Brigida, Candelaria Grimberg, Lucinda Elliott, Adam Jourdan, Aurora Ellis Organizations: REUTERS, Argentine Economy, Peronist, Massa, Local, International Monetary Fund, Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine

☆ Sergio Massa: can Argentine political wheeler-dealer save Peronism?
▼ + stars: | 2023-10-18 | by ( Nicolás Misculin | ) www.reuters.com time to read: +5 min

Argentina's Economic Minister Sergio Massa and Brazil's Finance Minister Fernando Haddad (not pictured) hold a news conference, at the Casa Rosada presidential palace in Buenos Aires, Argentina, January 23, 2023. Massa has his own political structures," a spokesman for the ruling party told Reuters. He studied at a Catholic school in the suburbs of Buenos Aires, joined a conservative political party and then shifted to Peronism. He rose to chief of staff under Fernandez de Kirchner(2007-15), though later left her government under a cloud and set up his own political party. He finished third in the first round of voting when he ran for president in 2015, before he returned to the Peronist coalition as a congressman in 2019.

Persons: Sergio Massa, Fernando Haddad, Agustin Marcarian, Javier Milei, Massa, Julio Burdman, Agustin Rossi, Patricia Bullrich, Alberto Fernandez, grandee Cristina Fernandez de Kirchner, Kirchner, Fernandez de Kirchner, Nicolás Misculin, Adam Jourdan, Marguerita Choy Organizations: Argentina's Economic, Brazil's Finance, Casa, REUTERS, Peronist, Observatory, Reuters, International Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, U.S, Peronism, Tigre

☆ Argentine executives pitch fiscal discipline as election hits home stretch
▼ + stars: | 2023-10-11 | by ( Jorge Otaola | ) www.reuters.com time to read: +2 min

The candidates mostly agree, however, on reducing the government's large fiscal deficit, like many business leaders. "We Argentines must stop arguing about obvious things like public spending," said Javier Goni, CEO of agribusiness company Ledesma. The election is playing out as the government struggles to service its $44 billion loan with the International Monetary Fund. The IMF forecasts that Argentina's economy will shrink 2.3% this year, with central bank reserves in the red after a historic drought trimmed $20 billion from key agricultural exports. Reporting by Jorge Otaola; Writing by Brendan O'Boyle; Editing by David Alire Garcia and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Patricia Bullrich, Javier Milei, Javier Milei's dollarization, Sergio Massa's, Javier Goni, Oscar Andreani, Jorge Otaola, Brendan O'Boyle, David Alire Garcia, Leslie Adler Organizations: por la Patria, el Cambio, La Libertad Avanza, Reuters, Ledesma, International Monetary Fund, IMF, Thomson Locations: BUENOS AIRES

"Social media is the new way of doing politics," said Eugenia Rolon, an 21-year-old influencer who describes herself as anti-feminist and fighter of a "cultural battle" against progressive ideas. Cerimedo said social media support for Milei was organic, and played down previous comments he made to local media that he had used AI-powered trolls. "Many people said Javier was going to do poorly because what happened on social media was my trolls," Cerimedo said. Agustin Romo, 27, a legislative candidate for Buenos Aires province with Milei's Libertad Avanza party, informally coordinates the social media team. "These are people who are contributing their grain of sand where they can, so that Argentina changes and Javier Milei becomes president," Romo said.

Persons: Javier Milei, Karina Milei, Agustin Marcarian, Elon Musk, Eugenia Rolon, Donald Trump, Jair, Milei, That's, Sergio Massa, Patricia Bullrich, Tucker Carlson, Bolsonaro, Diego Corbalan, Bullrich, Jeremias Madrazo, Madrazo, Massa, Inaki Gutierrez, Argentine, Fernando Cerimedo, Cerimedo, Javier, Carlson, Musk, overspending, Agustin Romo, Romo, Anna, Catherine Brigida, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, La Libertad, REUTERS, Elon, YouTube, Reuters, Peronist, Buenos, Milei's Libertad, Thomson Locations: La Plata, Buenos Aires, Argentina, BUENOS AIRES, Massa, Milei's Libertad Avanza, Candelaria

☆ Wolff says F1 risks disarray if Massa succeeds in title bid
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Sept 19 (Reuters) - Formula One risks disarray in the unlikely event of Felipe Massa winning a threatened legal claim for the 2008 world championship, according to Mercedes team boss Toto Wolff. The Brazilian lost that title by a point to Britain's Lewis Hamilton, then at McLaren and now at Mercedes and a seven-time world champion. "I don't think he has a case, to be honest," Wolff told reporters at the latest edition of the Singapore Grand Prix last weekend. "For me this is like watching a telenovela or soap opera playing out in front of me," added the Austrian. Wolff had said earlier that Massa's case was sure to set a precedent and Mercedes were watching "with curiosity".

Persons: Felipe Massa, Mercedes, Toto Wolff, Britain's Lewis Hamilton, Wolff, Massa, Wolff's, I'm, Hamilton, Max Verstappen, Michael Masi, Alan Baldwin, Ken Ferris Organizations: Ferrari, Massa, McLaren, Mercedes, Singapore, Prix, Austrian, Thomson Locations: Singapore, Abu Dhabi, London

☆ Argentina's Lower House Passes Bill to Reduce Taxes on Wealthy
▼ + stars: | 2023-09-19 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentina's lower house on Tuesday passed a government-backed bill to cut taxes on high-income earners, a move that would erase about one trillion pesos ($2.8 billion) from state coffers in 2023, according to official estimates. The bill, which must now go through the Senate, passed with 135 votes in favor and 103 against. "Salaries are not profit," Economy Minister and presidential candidate Sergio Massa wrote on social media platform X following the vote. Opposition lawmakers blasted the move, saying the proposed tax cut aims to benefit Massa's presidential run for the October election. The South American nation is grappling with triple-digit annual inflation, with analysts polled by the central bank setting it at 169.3% at the end of the year.

Persons: Sergio Massa, Javier Milei, Milei, Eliana Raszewski, Juan Bustamante, Walter Bianchi, Valentine Hilaire, Sonali Paul Organizations: BUENOS AIRES, Reuters Locations: BUENOS

☆ Mercedes watching Massa case with interest, says Wolff
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Former Ferrari driver Massa lost that title by a point to Lewis Hamilton, now at Mercedes and a seven-time world champion. The Brazilian, 42, says an alleged "conspiracy" denied him the title because the sport's leaders knew the 2008 Singapore Grand Prix was manipulated but took no action until a year later. Wolff suggested that outcome could also be challenged if Massa were to succeed with his case. "The FIA commented on the 2021 race with a clear statement so that's why we are looking at it with interest," he said. The governing FIA said in March 2022 after an enquiry that "the results of the 2021 Abu Dhabi Grand Prix and the FIA Formula One World Championship are valid, final and cannot now be changed."

Persons: Felipe Massa, Edgar Su, Felipe Massa's, Toto Wolff, Massa, Lewis Hamilton, Nelson Piquet, Fernando Alonso, Wolff, Hamilton, Max Verstappen, Michael Masi . Wolff, Alan Baldwin, Ken Ferris Organizations: Singapore, Circuit, Rights, Ferrari, Mercedes, Renault, FIA, Abu, Prix, Thomson Locations: Singapore, Rights SINGAPORE, Abu Dhabi, London

The legal team had initially set a Friday deadline. "The ball is on their court, we've been waiting for their response," said Viana, a partner at law firm Vieira Rezende Advogados. His lawyers want Hamilton, who was racing for McLaren at the time to support the claims. He is an honorary Brazilian citizen and very well liked by Brazilians, so I hope he will support us," Viana said. Despite that, Viana said Massa's legal team were confident they had a strong case and enough evidence to bring the Brazilian the championship.

Persons: Felipe Massa, Lewis Hamilton, Bernardo Viana, we've, Viana, Vieira Rezende Advogados, Hamilton, Nelson Piquet Jr, Massa, Piquet, Fernando Alonso, supremo Bernie Ecclestone, Max Mosley, Mosley, Ecclestone, Charlie Whiting, Massa's, Nick de Marco, Gabriel Araujo, Ken Ferris, Toby Davis Organizations: SAO PAULO, Reuters, Formula, FIA, Ferrari, Massa, Renault, Singapore, Prix, McLaren, Hamilton, Mercedes, supremo, Thomson Locations: Singapore, Brazilian

☆ Vasseur wary of commenting on Massa's legal claim
▼ + stars: | 2023-08-23 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

Lawyers for Brazilian Massa last week notified Formula One chief executive Stefano Domenicali and Mohammed Ben Sulayem, president of the governing FIA, of the intent to claim compensation. An FIA spokesperson last week acknowledged receipt of "correspondence" from Massa's representatives and said the matter was under review. The scandal, widely known as 'Crashgate', did not emerge until a year later and led to Renault team bosses being banned. Vasseur said teams wanted to know the result of races at the chequered flag and not after the podium celebrations had happened. The Frenchman, who was Renault team boss in 2016, took over at Ferrari in January and was not in Formula One in 2008.

Persons: Driver Felipe Massa, Hamad I Mohammed, Fred Vasseur trod, Felipe Massa, Stefano Domenicali, Mohammed Ben Sulayem, Massa, Vasseur, Nelson Piquet's, Britain's Lewis Hamilton, insider.com, supremo Bernie Ecclestone, Max Mosley, Ecclestone, Mosley, Frenchman, Alan Baldwin, Lincoln Organizations: Saudi, Prix, Jeddah Corniche, Driver, Grand Prix REUTERS, Ferrari Formula, Brazilian Massa, Formula, FIA, Renault, McLaren, supremo, Reuters, Ferrari, One, Thomson Locations: Jeddah, Jeddah Corniche Circuit, Saudi Arabia, Singapore

☆ Argentina's Massa expects IMF board OK for $7.5 bln payout
▼ + stars: | 2023-08-22 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

Argentine Economy Minister Sergio Massa speaks to the media on the day of Argentina's primary elections, near a polling station in Tigre, on the outskirts of Buenos Aires, Argentina August 13, 2023. REUTERS/Mariana Nedelcu/File Photo Acquire Licensing RightsWASHINGTON, Aug 22 (Reuters) - Argentine Economy Minister Sergio Massa said on Tuesday that he expects the International Monetary Fund (IMF) board to approve the latest reviews of its huge loan program on Wednesday, unlocking $7.5 billion the embattled country desperately needs. The board green light would come after the South American nation reached a staff-level agreement with the IMF in July to unlock the funds and complete the combined fifth and sixth reviews of its struggling $44 billion loan program. "We are convinced that tomorrow the fifth and sixth reviews will be approved, which will allow us to access a disbursement for Argentina of $7.5 billion," he told reporters at an event in Washington. Reporting by Jason Lange; additional reporting by Rodrigo Campos; Writing by Adam Jourdan; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Mariana Nedelcu, Massa, Jason Lange, Rodrigo Campos, Adam Jourdan, Sandra Maler Organizations: Argentine, REUTERS, Rights, Argentine Economy, International Monetary Fund, IMF, Thomson Locations: Tigre, Buenos Aires, Argentina, Argentine, American, Washington

"Simply put, Mr Massa is the rightful 2008 Driver's Champion, and F1 and FIA deliberately ignored the misconduct that cheated him out of that title," said the letter. There was no immediate response from the FIA and Formula One, which is currently on an August shutdown. PIQUET CRASHMassa was leading the 2008 Singapore Grand Prix from pole position when fellow Brazilian Piquet crashed into the wall on lap 14 of 61. The lawyers' letter warned that, without a satisfactory response, Massa intended to "pursue legal action in order to seek compensation for the harm he has suffered." Massa did not win again after 2008, with the Brazilian suffering a near-fatal head injury at the 2009 Hungarian Grand Prix.

Persons: Driver Felipe Massa, Hamad, Mohammed, Massa, Ecclestone, Felipe Massa, Stefano Domenicali, Mohammed Ben Sulayem, Law, McLaren's Lewis Hamilton, Mr Massa, " Massa, supremo Bernie Ecclestone, Max Mosley, Nelson Piquet's, PIQUET, Piquet, Fernando Alonso, insider.com Ecclestone, Hamilton, Mosley, Charlie Whiting, Rory Carroll, Alan Baldwin, Ken Ferris Organizations: Saudi, Prix, Jeddah Corniche, Driver, Grand Prix REUTERS, FIA, Reuters, Formula, Formula One, F1, supremo, Renault, Briton, F1 supremo, Liberty Media, Thomson Locations: Jeddah, Jeddah Corniche Circuit, Saudi Arabia, Paris, London, Singapore, Switzerland, Spanish

☆ One eve of vote, Argentina's Massa announces $500 mln in new loans
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +1 min

Argentina's Economy Minister Sergio Massa departs after attending a meeting with International Monetary Fund Managing Director Kristalina Georgieva at the IMF headquarters in Washington, U.S., September 12, 2022. In a ministry statement laying out economic policies to be formally rolled out next week, Massa also pledged to propose a "zero deficit" government budget for next year that would not overspend. The $500 million in loans will be signed with the Inter-American Development Bank and the World Bank, according to the statement, which will boost the central bank's critically-low foreign reserves. Argentine traders are keeping a close eye on Sunday's election, which could point to the likely outcome of the general election in October. Reporting by Lucila Sigal; Writing by David Alire Garcia; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Kristalina Georgieva, Evelyn Hockstein, Massa, Lucila Sigal, David Alire Garcia, Sandra Maler Organizations: Monetary Fund, IMF, REUTERS, Voters, Peronist, Inter, American Development Bank, World Bank, Thomson Locations: Washington , U.S, BUENOS AIRES, Argentina

☆ Argentina's cabinet chief says harvest should bring economic relief
▼ + stars: | 2023-07-21 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

[1/2] Argentina's Cabinet Chief and vice presidential pre-candidate Agustin Rossi gestures in his office during an interview with Reuters, at the Casa Rosada Presidential Palace, in Buenos Aires, Argentina July 21, 2023. REUTERS/Agustin MarcarianBUENOS AIRES, July 21 (Reuters) - Argentina's financial crisis, which has been marked by exchange rate volatility and soaring inflation, should start abating in November and December, with large foreign currency inflows from the wheat harvest, cabinet chief Agustin Rossi told Reuters on Friday. Argentina's prolonged financial crisis has been aggravated by a ferocious drought that reduced crucial agricultural exports by an estimated $20 billion this year. "(Inflation) does not go down with abrupt devaluation... We do not believe that this is necessary in Argentina," Rossi said. "We are optimistic, we believe that we will find a way," Rossi said of the IMF talks.

Persons: Agustin Rossi, Agustin Marcarian, " Rossi, Nestor Kirchner, Rossi, Sergio Massa, Alberto Fernandez, Nicolás Misculin, Alexander Villegas, Rosalba O'Brien Organizations: Argentina's, Reuters, Casa, REUTERS, Peronist, International Monetary Fund, IMF, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, Vaca

BUENOS AIRES/NEW YORK, June 18 (Reuters) - Argentina and the International Monetary Fund (IMF) have a $44 billion dilemma, with the two sides set to meet for crunch talks to revamp the country's huge, wobbling debt deal, key to avoiding default on billions in looming debt payments. Economy Minister Sergio Massa is expected in Washington as early as this week to try to unlock talks to accelerate IMF disbursements and ease economic targets attached to the deal, with investors and traders watching closely. "The fund knows that Argentina is a problem, it is its main debtor, but it seems to me that the negotiation has stagnated. Reuters Graphics'DAMAGE CONTROL'The government is hoping to bring forward over $10 billion in IMF disbursements scheduled for this year, though is reluctant to agree to tough austerity measures with an eye on October general elections where it faces likely defeat. "Investors are paying real attention to signs from the IMF negotiations," said economist Gustavo Ber.

Persons: Sergio Massa, Ricardo Delgado, Massa, Hugo Godoy, Gustavo Ber, Walter Bianchi, Rodrigo Campos, Adam Jourdan, Daniel Wallis Organizations: BUENOS AIRES, International Monetary Fund, Economy, IMF, Reuters Graphics, Reuters, Institute of International Finance, Reuters Graphics Reuters, Thomson Locations: BUENOS, Argentina, Washington, Argentine, Buenos Aires, China

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