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Milei to Speak With The IMF Today, YPF Working On Fuel Hike

ARGENTINA
  • As part of the IMF routine to meet candidates, Javier Milei will have a virtual meeting with the Fund this Friday. As MNI reported yesterday, Economy Minister Massa revealed that IMF staff had asked for an initial 100% Peso devaluation, before an eventual agreement on 20%. Discussions are expected to continue next week as Massa meets with IMF officials, according to the ministry’s press office.
    • This comes following reports earlier this week indicating the government intends to ask the fund to increase the amount of its next disbursement expected later this month.
    • In a note published overnight, Citi strategists continue to like Argentina bonds despite rising political uncertainty after the elections.
  • Separately, following the 12.5% fuel price hikes that started on Monday, Minister Massa expects YPF to match the other companies with similar increase. Massa says this is the last fuel hike until 31st Oct.
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