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Milei Reported To Have Fired His Infrastructure Minister

ARGENTINA
  • Local media are reporting that President Milei has fired his infrastructure minister Guillermo Ferraro after he was suspected of leaking information from the biweekly cabinet meetings. La Nacion and Clarin cite an unnamed government official for the report, but this has not yet been commented on officially. It follows mass demonstrations against the Milei government earlier this week, organised by the powerful CGT union group to protest the sweeping reform programme. A key vote on part of the reform agenda was postponed on Wednesday until next week.
  • Meanwhile, utility providers Edenor and Edesur are holding public hearings today to examine increases in electricity prices. Yesterday, the central bank was reported to have sold $2.45bn of importer bonds, to be used by importers to transfer dollars they raise from selling these securities on the secondary market directly to their foreign providers. To date, the central bank has sold $4.1bn of these bonds.
  • On the data front today, November wages data are due to be released at 1900GMT(1400ET). Wages rose by 8.3% m/m in October.
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