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☆ Mexico's America Movil denies report it's eyeing Argentine telecoms firm Arsat
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of America Movil is pictured on the wall at a reception area in the company's corporate offices, in Mexico City, Mexico January 25, 2022. REUTERS/Gustavo Graf/File Photo Acquire Licensing RightsMEXICO CITY, Nov 23 (Reuters) - America Movil (AMXB.MX), the Mexican telecommunications company controlled by billionaire Carlos Slim, on Thursday denied a report it is in talks with Argentine President-elect Javier Milei's team to buy Argentina's state telecoms company Arsat. Citing sources close to the matter, website La Politica Online said plans to sell Arsat are very advanced, and reported that a member of Milei's transition team on Tuesday held talks with executives from America Movil's Argentine unit, Claro. La Politica Online said the value of Arsat was discussed during the talks with a figure of around $930 million mentioned. A spokesperson for Milei's transition team did not immediately respond to a request for comment.

Persons: Gustavo Graf, Carlos Slim, Javier Milei's, Arturo Elias, Slim's, Arsat, Dave Graham, Eliana, Jonathan Oatis, Marguerita Choy Organizations: REUTERS, MEXICO CITY, Argentine, Reuters, Politica, America Movil's, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, America Movil's Argentine, Claro

The South American country's markets are closed on Monday for a local holiday, so will only fully trade on Tuesday. Overseas-listed sovereign bonds and some equities will trade, mainly in Europe and the United States. In his first speech Milei pledged speedy reforms to fix an economy mired in crisis. If Milei can convince the market that the chainsaw (fiscal discipline) is the heart and soul of his presidency then bonds rally," he said. But he still faces a divided Congress where his Liberty Advances bloc only has a small share of seats.

Persons: Javier Milei's, Sergio Massa, Juan Manuel Pazos, Milei, Mauricio Macri, Patricia Bullrich, Martin Castellano, Walter Stoeppelwerth, Gletir, Gustavo Ber, Jorgelina, Walter Bianchi, Jorge Otaola, Christopher Cushing Organizations: Peronist, FX, Institute of International Finance, Liberty, Thomson Locations: BUENOS AIRES, Argentine, American, Europe, United States, Buenos Aires, Rosario

☆ Argentina's new president Javier Milei thinks adopting the US dollar can rescue its screwed economy
▼ + stars: | 2023-11-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

He thinks replacing the peso with the dollar can tame hyperinflation and revive the battered economy. Prominent economist Steve Hanke — a champion of Milei's dollarization drive — posted on X after the results were announced that the candidate's proposal was "clearly a vote-getter." REBUILDING ARG'S ECONOMY = DOLLARIZATION. AdvertisementDespite its economic woes, Argentina's economy was worth $633 billion in 2022, making it the world's 23rd-largest economy. Critics of Milei's dollarization plans cite major challenges for Argentina against its backdrop of hyperinflation, economic crises, and political instability.

Persons: Javier Milei, —, Javier Milei's, Milei, Milei's, dollarize, Steve Hanke —, Milei’s, Steve Hanke, Milei's dollarization, There's, Markus Jaeger, Jaeger Organizations: Service, Johns Hopkins University, Argentine, Argentina, International Monetary Fund, Business Locations: Argentina, Argentine

☆ Global leaders react to Milei's Argentina victory
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +4 min

ARGENTINE PRESIDENT ALBERTO FERNANDEZ"I am a man of democracy, and I value nothing more than the popular verdict. I trust that tomorrow we can start working with Javier Milei to guarantee an orderly transition." FORMER ARGENTINA PRESIDENT MAURICIO MACRI"I congratulate Javier Milei for bravely representing the will to advance and prosper that lives in the hearts of Argentines. WHITE HOUSE NATIONAL SECURITY ADVISOR JAKE SULLIVAN"I congratulate Javier Milei on his election as president of Argentina and to the people of Argentina for holding free and fair elections. FORMER U.S. PRESIDENT DONALD TRUMP"Congratulations to Javier Milei on a great race for president of Argentina.

Persons: Javier Milei, ALBERTO FERNANDEZ, MAURICIO MACRI, JAKE SULLIVAN, DONALD TRUMP, ILAN GOLDFAJN, LUIZ INACIO LULA DA SILVA, SANTIAGO PENA, GUSTAVO PETRO, Milei, GABRIEL BORIC, Sergio Massa, LUIS LACALLE POU, DINA BOLUARTE'S, JAIR BOLSONARO, Javier Milei's, ARGENTINA DMITRY FEOKTISTOV, Brendan O'Boyle, Lidia Kelly, Chris Reese Organizations: ARGENTINE, IDB, PARAGUAYAN, America, URUGUAYAN, Thomson Locations: ARGENTINA, Argentina, Argentine, Colombia, Chile, Peru, Argentine Republic, South America, United States, Brazil, RUSSIAN, BRICS

☆ Argentina oil company YPF spikes 40% as investors cheer president-elect Milei's promises to revamp the economy
▼ + stars: | 2023-11-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Shares of state-oil firm YPF soared 40% on Monday after Javier Milei's presidential victory. Milei has promised to revamp the Argentine economy, and also said he would seek to privatize YPF. Milei won the Argentine presidential election Sunday against Economy Minister Sergio Massa. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementArgentine state energy company YPF saw its New York-listed shares spike more than 40% on Monday, following Javier Milei's presidential election victory on Sunday.

Persons: Javier Milei's, Milei, Sergio Massa, —, Spain's Repsol, YPF Organizations: Argentine, Economy, Service, Reuters, Grupo Financiero Galicia, Banco Locations: Argentine, YPF, York, Spain's, Argentina, New York

BUENOS AIRES, Nov 20 (Reuters) - Argentines expressed a mixture of ecstasy and trepidation on Monday after libertarian outsider Javier Milei, pledging radical fixes to the economy, swept to power with an election win over Peronist government rival Sergio Massa. "It's a great unknown," said Guillermo Toledo, a 51-year-old university professor in the capital Buenos Aires, who said he did not vote for Milei. Milei's win brought flag-waving crowds on Sunday night out to the Obelisk in downtown Buenos Aires, a traditional rallying point for supporters to cheer election or soccer wins. [1/2]Argentine president-elect Javier Milei's supporters celebrate after Milei wins the runoff presidential election, in Buenos Aires, Argentina November 19, 2023. Milei gives me hope things can change," Bernal said.

Persons: Javier Milei, Sergio Massa, Milei, Donald Trump, Jair, Guillermo Toledo, haven't, Milei's, Leandro Boses, Javier Milei's, Adriano Machado, Massa, Claudio Bernal, Bernal, Julia Eva Saggini, Mauricio Macri, Lucinda Elliott, Candelaria Grimberg, Rosalba O'Brien Organizations: Peronist, Argentine, REUTERS, Thomson Locations: BUENOS AIRES, Argentina, U.S, Buenos Aires

☆ Argentina: Steve Hanke says many arguments against dollarization are 'absolute rubbish'
▼ + stars: | 2023-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArgentina: Steve Hanke says many arguments against dollarization are 'absolute rubbish'Steve Hanke, professor of applied economics at John Hopkins University, discusses the possible implications that libertarian Javier Milei's victory in Argentina's presidential runoff contest may have for the peso.

Persons: Steve Hanke, dollarization, Javier Milei's Organizations: Argentina, John Hopkins University

☆ Argentine farmers: Milei victory an opportunity for 'radical change' for grains sector
▼ + stars: | 2023-11-20 | by ( Maximilian Heath | ) www.reuters.com time to read: +1 min

[1/2] Soy plants are seen in a farm near Pergamino, on the outskirts of Buenos Aires in Argentina April 27, 2021. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 20 (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Agustin Marcarian, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: REUTERS, Argentine Rural Society, Argentine Rural Confederations, Thomson Locations: Pergamino, Buenos Aires, Argentina, BUENOS AIRES

☆ 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

☆ Argentine Farmers: Milei Victory an Opportunity for 'Radical Change' for Grains Sector
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

By Maximilian HeathBUENOS AIRES (Reuters) - Javier Milei's election as Argentine president offers an opportunity for "radical change" in policy for the grains sector, the country's main rural associations said late on Sunday, offering to work "side by side" with the libertarian. Milei, a far-right libertarian, is pledging to reduce the size of the state and cut taxes. He also wants to eventually close the central bank and dollarize the economy - more radical ideas that he may struggle to implement. "A great opportunity has opened up to work together to make radical change to the current policies," the Argentine Rural Society (SRA) said in a statement. Meanwhile, the Argentine Rural Confederations (CRA) called for Milei to work with the farm sector and demanded tax deregulation.

Persons: Maximilian Heath BUENOS, Javier Milei's, Milei, Maximilian Heath, Adam Jourdan, Christopher Cushing Organizations: Reuters, Argentine Rural Society, Argentine Rural Confederations Locations: Maximilian Heath BUENOS AIRES, Argentina

☆ 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

☆ Argentine polls give slight edge to opposition ahead of uncertain primaries
▼ + stars: | 2023-08-04 | by ( Lucila Sigal | ) www.reuters.com time to read: +2 min

REUTERS/Matias Baglietto/File PhotoBUENOS AIRES, Aug 4 (Reuters) - Argentina's opposition is polling with a slight lead for the upcoming August primaries, usually a reliable bellwether for the outcome of the presidential election, but with many voters ready to snub the ballot box the results are far from certain. Most polls peg the center-right opposition alliance Together for Change (JxC) with a slight edge against the center-left ruling coalition Union for the Homeland (UP). Over 10 percentage points behind is political outsider Javier Milei's Liberty Advances party, which hopes to win votes from those disillusioned with politics. The primaries will decide the candidates who will compete in the Oct. 22 elections, but polls vary on which candidates will win a place in the race. Massa is seen as likely to win a place in the presidential vote, but the country's severe economic crisis has favored Milei, who carries an "emotional vote".

Persons: Javier Milei, Matias Baglietto, Carlos Fara, Javier Milei's, Mariel Fornoni, Horacio Rodriguez Larreta, Patricia Bullrich, Bullrich, Sergio Massa, Juan Grabois, Massa, Milei, Pollsters, It's, Lucila Sigal, Juan Bustamante, Sarah Morland, Sandra Maler Organizations: 135th Argentine, REUTERS, Union for, Homeland, Management, Economy, Reuters, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, UP, Fara

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