January 24th, 2025

1. Javier Milei participated in the World Economic Forum 2025
The Argentine President, Javier Milei, participated in the World Economic Forum 2025 in Davos. During the global meeting, Milei sought to position himself as a leader of the libertarian movement worldwide, promoting alliances with international officials such as Donald Trump, Giorgia Meloni and Benjamin Netanyahu, and with businessmen such as the CEO of The Coca Cola Company, James Quincey, or his participation in the meeting with companies “Country Strategy Dialogue on Argentina”. On Thursday morning, he addressed the audience in a speech where he criticized the “woke ideology”, reinforced his vision on the importance of the reduction of the State, and urged world leaders to abandon the “script” of the last 40 years and to be bold, returning to the principles of freedom. In addition, Milei mentioned Elon Musk as an example of the “pioneering spirit” that tests the limits of what is possible.
Ámbito Financiero: Javier Milei en el Foro de Davos: alianza con Trump, agenda “anti-woke” y “la Argentina ejemplo a nivel mundial”
2. Javier Milei attended Donald Trump’s presidential inauguration
On January 20, President Javier Milei attended the presidential inauguration ceremony of his U.S. counterpart, Donald Trump. According to sources from Milei’s team, the new President of the United States reportedly gave preferential treatment to the Argentine leader, who was seated behind former U.S. presidents, had his own transportation for inauguration day, and was greeted after the ceremony by Trump, as was the Secretary of State, Karina Milei. The president was also accompanied by Economy Minister Luis Caputo and Foreign Minister Gerardo Werthein. Due to the ideological affinity between both governments, the Argentine administration enthusiastically welcomed Trump as the new President of the United States, and they hope that the new leader will provide better opportunities for the country on the international stage.
Ámbito: El Gobierno, exultante por la foto de Javier Milei en la asunción de Donald Trump
3. The balance of trade and economic activity indices were released
Argentina achieved a trade surplus of US$18,899 million in 2024, a figure never before reached. The trade balance was finalized in December, when, according to data from the National Institute of Statistics and Censuses (Indec), foreign trade showed a favorable result of US$1666 million. The trade surplus of the last month of 2024 was the result of exports for a value of US$7035 million and imports for US$5,369 million, which resulted in a total exchange of US$12,405 million, representing an increase of 30.2% compared to the same month of last year. Thus, the year closed with 12 consecutive months of trade surplus. On the other hand, in November 2024, the monthly economic activity estimator registered an increase of 0.1% in the interannual comparison and of 0.9% with respect to October.
La Nación: El país cerró 2024 con un superávit comercial de US$18.899 millones
Indec: EMAE
4. Negotiations continue regarding extraordinary session projects in the National Congress
Guillermo Francos, the Chief of Cabinet of Ministers of the Nation, attended the Senate on January 22 to reach agreements with dialogue-oriented blocs regarding the laws that the Government wants to approve during the extraordinary session period, which will conclude on February 21. The initiative was presided over by Victoria Villarruel, Vice President of the Nation and President of the Upper House, a gesture of unity within a context of internal disputes for the ruling party. On the agenda were, first, the repeal of the PASO (Open, Simultaneous and Mandatory Primaries), which there is even talk of suspending; in addition to the Anti-Mafia Law, the only initiative that is in the Senate, and Clean Record (“Ficha Limpia”), a project that the opposition would seek to block.
5. Argentina in negotiations with the International Monetary Fund
Javier Milei met in Washington with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in a meeting where Argentina’s “tremendous economic progress” was highlighted, including the reduction of inflation and economic growth. Subsequently, Georgieva announced that an IMF technical team will travel to Buenos Aires to work on a new program to support this progress. The Minister of Economy, Luis Caputo, decided not to accompany President Milei to the World Economic Forum in Davos in order to focus on the negotiations with the IMF technical mission that quickly arrived in Argentina. Caputo emphasized that the economic program will be proposed by Argentina and that the elimination of the exchange restrictions will depend on the fulfillment of certain conditions, without a specific date set.