Argentina foibles (inflation, currency and potential anarcho-capitalist experiments)

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The use of stablecoins surged in Argentina over the weekend​

Stablecoin use skyrocketed in Argentina over the weekend as citizens concerned about the election results swapped hoards of pesos for U.S. dollar-backed stablecoins. Facundo Werning, the former Tether expansion manager for Argentina, noted the volume across the USD stablecoin to Argentine peso trading pair reached $13.4 million on Sunday.

Argentine finance professional Santiago Vivanco reportedly claimed that he did not know anyone who had carried large amounts of Argentine pesos into the election. He added that he expected the peso to crash if Unión por la Patria had won, emphasizing that the party’s left-wing economic policies would not favor the peso. The chance that Unión por la Patria would win the most seats peaked at 55% on Polymarket.

More:

https://www.msn.com/en-us/money/mar...over-the-weekend/ar-AA1PjKqR?ocid=socialshare

 

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Milei’s win cements US partnership in Argentina’s mining

Argentina’s push to tap vast lithium, copper, oil and gas reserves gains momentum after President Milei’s landslide win.

www.mining.com

 

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Milei's win gave him (his party) additional seats in the legislature and it appears as if he will now be able to pass a lot of the reforms that he has been trying to pass since day 1 but which the old legislature had been blocking.

 

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Bloomberg

Buoyed by Trump, Argentina Takes Aim at $16 Billion US Judgment​

The government of Argentine President Javier Milei is hoping its string of recent political and economic victories continues in a Manhattan courtroom as it seeks to overturn a $16 billion US court judgment against the South American nation.

Lawyers for Argentina will make oral arguments Wednesday in the country’s appeal of a New York federal judge’s 2023 award to former shareholders in oil company YPF SA who were affected by its nationalization more than a decade earlier. For years, the litigation, like a previous court battle over Argentina’s sovereign debt, seemed to symbolize the country’s perceived antipathy toward foreign capital.

More:
https://www.msn.com/en-us/money/mar...lion-us-judgment/ar-AA1PpVJ9?ocid=socialshare