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January Economic Activity Due Today

ARGENTINA
  • President Milei will deliver the keynote speech at a forum in Buenos Aires at 2100GMT(1700ET), where IMF Western Hemisphere Director Rodrigo Valdes will also speak. Valdes plans to meet with government officials during his Argentina trip.
  • In terms of the macro data, January economic activity will be released at 1900GMT(1500ET), with analysts expecting the economy to have shrunk by 6.3% y/y in January, following a 4.5% contraction the month before.
    • Jan. Economic Activity Index YoY, est. -6.3%, prior -4.5%
    • Jan. Economic Activity Index MoM prior -3.1%
  • In other news, the Economy Ministry named Luis Lucero as the government’s new mining secretary, according to an official statement yesterday. Meanwhile, La Rioja province made a partial interest payment to creditors on Monday, with bondholders receiving most of the $10.4 million interest payment for notes due in 2028. Earlier this month, La Rioja suffered a ratings downgrade from Fitch following non-payment of its senior unsecured notes due in 2028.

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