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Milei Delays Pact With Governors Beyond May, April Trade Data Due

ARGENTINA
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  • President Milei said yesterday that his pact with the country’s governors will be delayed because his reform bill hasn’t been passed yet in congress. Milei had originally said the pact, a list of ten goals for his administration, would be signed on May 25, but local media report that it could be signed on June 20 or July 09 instead.
  • Separately, Milei said that two investment funds are interested in the country’s railway network without providing further details.
  • Data wise, April trade figures will be released at 2000BST(1500ET), with the trade surplus expected to rise to $2.2bn, from $2.059bn previously. Further ahead, March activity data will be published tomorrow, with analysts expecting growth to slip to -7.3% y/y.
    • April Trade Balance, est. $2.2b, prior $2.06b
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  • President Milei said yesterday that his pact with the country’s governors will be delayed because his reform bill hasn’t been passed yet in congress. Milei had originally said the pact, a list of ten goals for his administration, would be signed on May 25, but local media report that it could be signed on June 20 or July 09 instead.
  • Separately, Milei said that two investment funds are interested in the country’s railway network without providing further details.
  • Data wise, April trade figures will be released at 2000BST(1500ET), with the trade surplus expected to rise to $2.2bn, from $2.059bn previously. Further ahead, March activity data will be published tomorrow, with analysts expecting growth to slip to -7.3% y/y.
    • April Trade Balance, est. $2.2b, prior $2.06b