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Weekly Report - 17 July 2025 (WR-25-28)
ARGENTINA: Propping up the peso
The economy minister, Luis Caputo, blasted the banks this week as the Argentine peso suffered its heaviest losses against the US dollar since mid-April when the government led by President Javier Milei lifted the bulk of longstanding currency controls off the back of securing a new loan deal with the International Monetary Fund (IMF). There were several factors at play, many of which point towards a loss of confidence that even a government as avowedly pro-market and fiscally responsible as Milei’s cannot escape in a country with such a long history of economic and political turbulence as Argentina.
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