🔹Caputo estimated that the agreement with the IMF will be reached in the first quarter of 2025. He assured that negotiations are 'very well advanced'. Furthermore, if the inflation rate in December remains at the current level, the 'crawling peg' could drop to 1% between January and February
🔹The Central Bank acknowledged that net reserves remain in negative territory and that the target with the IMF was not met. Net reserves as of December 2023: negative at US$4.6 billion, according to EcoGo. The Fernández administration left the Central Bank with net reserves at -US$10 billion.
🔹Santa Fe will increase Gross Income from 5% to 9% on virtual wallets: the Argentine Fintech Chamber stated that this 9% rate is 'confiscatory' and that the measure 'will have regressive and inefficient effects, affecting businesses, service companies, and consumers'
🔹Illegal street sales in CABA fell by 51.2% in November compared to 2023, while compared to October it rose by 2%: the most commercialized category was clothing and footwear ℹ️ Argentine Chamber of Commerce (CAC)
🔹Starting today, prisoners housed in the Federal Penitentiary Service will be required to clean the prisons while serving their sentences: activities will be carried out for 5 hours daily and they will not be paid. The measure was published in the Official Bulletin.
🔹Mercado Libre enabled international purchases from the United States with free shipping to Argentina and the possibility to pay in pesos
🔹In 11 months, the Government eliminated 34,829 positions in the public sector, representing a 7% reduction between December 2023 and October 2024: the estimated future savings is US$3.82 billion, according to data from the Ministry of Deregulation.
🔹The Government authorized 10 public works across the country with an investment exceeding $85 billion, distributed over three years
🔹Brazil cannot stop the dollar, despite sacrificing 13 billion dollars in four days: it reached 6.20 reais
🔹Milei spoke with The Wall Street Journal and said he trusts that Trump will help him reach an agreement with the IMF. He also indicated that he hopes to advance in a free trade agreement with the United States
🔹Brazilian deputies approved a minimum tax of 15% on multinationals that bill more than US$750 million a year: the project now goes to the Senate. According to Lula's government, the new tax will impact 957 companies. They expect to raise US$1 billion by 2027.
🔹Markets and dollar at this moment
🇦🇷 Country Risk: 685 b.p.
💵 BLUE: $1200
💵 MEP: $1159
💵 OFFICIAL: $1049
$BTC $XRP $SOL #ETH🔥🔥🔥🔥 #BNB #SUI
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