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Bullrich Says Insufficient USDs For Dollarization, Milei To Privatize YPF

ARGENTINA
  • Headlines circulated overnight from Presidential candidates Patricia Bullrich and Javier Milei:
    • According to a Bullrich adviser, Argentina doesn’t have enough USD for dollarization and would need to save USD50bn in 10 years to dollarize the economy. Additionally, Bullrich would seek to prohibit exchange restrictions by law, make the central bank independent and stop it from financing the treasury. She would also modernize the labour legislation and deregulate sectors of the economy.
    • Regarding Milei, he would seek to remove YPF from state control. He has argued that this step will help encourage the exploration and development of unconventional oil and gas in the country’s Vaca Muerta shale formation and would be a financial boon to Argentina’s government.
  • Separately, August consumer confidence data printed 44.06, slightly higher than July's 43.56 reading.
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