### Summary
🇦🇷 Argentina's right-wing populist presidential candidate Javier Milei assured the International Monetary Fund (IMF) that the country would not default on its debts if he is elected.
### Facts
- 🗳️ Milei, who gained popularity by criticizing the political establishment, became the surprise frontrunner in Argentina's national primaries.
- 💰 Argentina currently has a $44bn loan program with the IMF and Milei assured officials that the country would continue to make payments and not default on its debts.
- 🗣️ During a virtual meeting with IMF officials, Milei outlined his economic proposals, which include fiscal adjustments, opening up the economy, labor law reform, spending cuts, and ending the Central Bank.
- 🇨🇱 The peso devalued and consumer prices surged after Milei's victory, causing market uncertainty.
- 🤝 The IMF also met with Patricia Bullrich, the main opposition coalition's presidential candidate, as part of routine engagements with political and economic stakeholders.
- 🗳️ Milei and Bullrich will compete against Minister of Economy Sergio Massa in the October elections, where a candidate needs to secure at least 45 percent of the votes to win outright.
The Argentinian peso slips as investors await the International Monetary Fund (IMF) board's decision on the country's loan program, while stocks rise; Brazil approves fiscal rules to prevent public debt spike; South Africa announces expansion mechanisms for BRICS nations.
Argentina plans to use a $7.5 billion disbursement from the International Monetary Fund (IMF) to repay China part of the money it borrowed through a currency swap line, in order to avoid defaulting on its debt to the multilateral lender.
Argentina's Economy Minister Sergio Massa announced that the World Bank and Inter-American Development Bank have approved loans worth $1.3 billion for Argentina, with the purpose of financing development projects and strengthening reserves at the Central Bank.
Argentina and the International Monetary Fund (IMF) face challenges as the country enters a recession, misses economic targets, and struggles with inflation, prompting calls for stricter conditions and deeper structural reforms from the IMF.
Presidential front-runner in Argentina argues for the elimination of the peso and the closing of the central bank, citing the country's history of hyperinflation and corruption.
Javier Milei, the "anarcho-capitalist" presidential candidate in Argentina, gained popularity by promising to dollarize the economy and provide a solution to the country's economic crisis. However, economists and the IMF have raised concerns about the feasibility of dollarization as a solution.
Argentina is facing a presidential election amid an economic crisis marked by soaring inflation, recession, and a high poverty rate, with leading candidates divided over how to address these issues, including a suggestion to dollarize the economy.
Argentina's upcoming presidential election, which is causing uncertainty in the markets, could potentially lead to the rise of a radical libertarian candidate whose policies are unpredictable for investors.
Argentina's upcoming presidential election will require the next government to cut spending, stop printing money, and address the country's high inflation and economic challenges, according to executives and members of the business community.
Despite Javier Milei leading the polls and proposing dollarisation, Argentina's economic problems are deeply rooted in political issues and require more than just a quick fix.
Argentina is facing a severe economic crisis with high inflation, dwindling foreign reserves, capital controls, and a looming recession, as voters prepare to choose between three presidential candidates in the upcoming election.
Argentina's leading candidate, Javier Milei, is advocating for dollarization and the abolition of the central bank in an effort to address the country's economic crisis, which includes high inflation, a weak currency, and mounting debt. The outcome of the election remains uncertain, and the next government will face significant challenges in managing inflation and FX reserves.
Argentina prepares to vote in presidential elections with libertarian Javier Milei in the lead, reflecting voters' anger at inflation, rising poverty, and a sliding peso currency, as Milei pledges radical economic measures such as privatization and dollarization, though a second-round run-off is expected.
