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Milei To Inaugurate 2024 Legislative Sessions In Congress This Evening

ARGENTINA
  • President Milei will inaugurate the 2024 legislative sessions with a speech to congress from 0000GMT(1900ET). He is expected to provide details on bills that the government will put forward to advance reforms and deregulate the economy. Data wise, the Economy Ministry will publish February tax revenue figures later (prior ARS7.7tn). In addition, a new fuel tax increase begins today, which is expected to push up the price of gasoline and diesel in the country.
  • In other news, the BCRA sold $491mn of importer bonds offered in the first auction of Series 3, according to a statement yesterday. Previously, BCRA sold $5bn in the first series of importer bond auctions and $2bn in the second series.
  • Meanwhile, YPF reported a $1.8bn impairment after a review of its upstream assets. The non-cash impairment will be taken into account in the company’s 2023 financial statements.
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