"Excellent meeting with President @JMilei, Minister @LuisCaputoAR, and Secretary @PabloQuirno at Casa Rosada. We discussed Argentina's economic reform agenda, the boost to the private sector, the security agenda, and the country's integration into the region and the world. We also addressed the new Country Strategy 2025-2028 of Grupo @el_BID. We are committed to continuing to support the country. Thank you for receiving us!", stated Ilan Goldfajn, president of the Inter-American Development Bank (IDB), after the meeting with Argentina's top authorities.
President Javier Milei and Minister of Economy, Luis Caputo, received this Monday at Casa Rosada the head of the Inter-American Development Bank (IDB), Ilan Goldfajn, along with other authorities of the institution.
The meeting, which took place between 11:30 a.m. and 1:00 p.m., had been previously scheduled as part of the head of the organization's visit to Argentina and was framed within the review of ongoing credit operations. However, the meeting took on greater significance due to the political and economic context caused after the recent electoral result in Buenos Aires province.
The return of Peronism to the center of the Buenos Aires political scene, with a result higher than what consulting firms had estimated, had a direct impact on financial variables. The reaction was immediate: the official dollar opened the day at $1390 for buying and $1450 for selling on Banco Nación's screens, marking an increase of $70 compared to the previous close. At the same time, shares of Argentine companies listed on Wall Street recorded sharp declines of over 20%. Banco Macro fell by 20.40%, BBVA by 19.91%, and Banco Supervielle by 18.85%.
Meanwhile, Argentine bonds began the session with losses of up to 11%. Country risk also reflected the nervousness, standing at 901 basis points.
