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Weekly Report - 23 January 2025 (WR-25-03)

ARGENTINA: Milei gets surplus boost

“A landmark in our history.” That is how Argentina’s economy minister, Luis Caputo, described the fiscal surplus of 0.3% of GDP which the government achieved in 2024, in a message on social media in response to a statement released by his ministry on 17 January. He added that Argentina’s programme of stabilisation had “surprised the world”. The International Monetary Fund (IMF), crucially, was similarly upbeat. After a meeting two days later with President Javier Milei in Washington ahead of the inauguration of Donald Trump as US president, the managing director of the IMF, Kristalina Georgieva, waxed lyrical about Argentina’s economic progress and announced that it would be sending a team to the country next week to start work on a new deal.

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