Milei dreams of re-election – with IMF's help

The International Monetary Fund announced a few days ago an agreement to grant another new loan to Argentina, while many in that country have already said so: the new debt would be considered illegitimate.If the IMF disbursed the loan under current conditions, it would violate its own lending rules, and doing so would pose countless risks to multilateralism and harm the Argentine people.Argentina is already the largest debtor of the IMF, with ap…

Milei dreams of re-election – with IMF's help

Whether signing an IMF deal represents a “day of liberation” or one of mourning, it lifts a cloud of uncertainty and allows the political ecosystem to focus on upcoming elections.

Taking into account the growth of the Central Bank’s reserves and the dependence on IMF dollars, both the peso and the currency of legal tender and the Central will enjoy good health, despite the dollarizing temptation of the President, who, on his side, chews grudges. Convinced that the numbers will finally give him the reason, he hopes that the price of the dollar will stabilize around 1,100 pesos, against the alleged equilibrium price of 1,36…

The year-round trade balance, despite the exchange rate correction, is heading towards a fall in the surplus in half from US$ 18,899 million in 2024, and would thus remain at US$ 9 billion. The report, as usual, did Abeceb.com, which directs the economist Dante Sica. The first quarter of 2025 closes with an accumulated trade surplus of US$ 761 million, which marks a substantial reduction from the surplus of US$ 4,401 million that had accumulated…