June 13th, 2025
1. The Supreme Court upheld the conviction of Cristina Kirchner
In a landmark ruling, the Supreme Court of Justice upheld the sentence of six years of imprisonment and perpetual disqualification from holding public office against the former President of Argentina, Cristina Fernández de Kirchner, in the context of the Vialidad case. The Court unanimously decided to leave the sentence for the crime of fraudulent administration to the detriment of the public administration in the 51 bids for public works in the province of Santa Cruz. The decision shakes the whole political system. Cristina Kirchner is the first former president to have a firm conviction for corruption. The current president of the national Justicialist Party (PJ), and the strongest figure of the opposition to Javier Milei’s government, will be out of the electoral race and will not be able to compete, as she intended, for a seat in the Buenos Aires Chamber of Deputies next September 7. The Federal Oral Court N° 2, which sentenced her in the first instance, urged the former president to appear within five working days from the date she was notified of the sentence against her. In addition, the court asked the Minister of Security, Patricia Bullrich, to arrange a place for her detention. Due to her age, 72 years old, Cristina Kirchner may request to serve her sentence under house arrest.
La Nación: La Corte Suprema confirmó la condena a Cristina Kirchner a prisión y no podrá ser candidata
2. Argentine President Javier Milei made an international tour which included bilateral meetings in Spain, Italy, France and Israel
Within the framework of the longest tour since he became President of the Nation, the Argentine President, Javier Milei, held a long series of meetings and bilateral meetings with the most important leaders of Europe and the Middle East. Among them, Mr. Milei, together with his counterpart Giorgia Meloni, supervised the signing of the agreement between the energy companies YPF and ENI for the joint development of one of the phases of the “Argentina LNG” project. After that, President Milei was received by Pope Leo XIV at the Vatican. Then, he visited the French city of Nice, where he met with the President of the French Republic, Mr. Emmanuel Macron. On the other hand, President Javier Milei had a meeting with the President of the Community of Madrid, Isabel Díaz Ayuso. Finally, President Milei held a meeting with the Prime Minister of the State of Israel, Benjamin Netanyahu, there, he announced that Argentina will move its embassy in Israel to West Jerusalem in 2026.
La Nación: Qué países incluye la gira que inicia Javier Milei
3. May inflation was 1.5%
The general level of the Consumer Price Index registered a monthly increase of 1.5% in May 2025, and accumulated a variation of 13.3% for the year. In the interannual comparison, the increase was 43.5%.
Indec: Índice de precios al consumidor
4. BCRA to receive a US$ 2 billion loan from international banks
On June 11, 2025, the Central Bank (BCRA) subscribed a US$ 2 billion “REPO” loan with seven first-tier international banks, through the delivery of Bopreal Series 1-D bonds as collateral. This second round expands the counterparty base, incorporating two more entities than last December. The measure is part of “Phase 3” of the economic program of Javier Milei’s government and is part of the agreement with the IMF, which establishes reserve accumulation targets of US$ 4,4 million before the first review, initially scheduled for mid-June but later postponed. So far, the BCRA accumulated around US$ 1,895 million net since April, and the REPO operation will contribute around US$ 500 million towards that goal. In addition, the package includes placements of peso bonds with dollar subscriptions (Bonte 2030), gradual elimination of Lefis and reforms to channel pesos from the informal market through government securities, all as a mechanism to control inflation, strengthen the BCRA’s balance sheet and avoid direct foreign exchange interventions.
5. Misiones legislative elections were held
In the Misiones legislative elections of June 8, 2025, the Frente Renovador de la Concordia, the ruling party in the province, won with 28.6% of the votes, with Sebastián Macías as the main candidate. In spite of the triumph, this result meant a decrease with respect to previous elections. The main novelty was the advance of La Libertad Avanza, which ran for the first time at provincial level and obtained the second place with about 22 % of the votes, led by the tennis player Diego Hartfield. Juntos por el Cambio, which in previous elections had been the second force, was relegated to third place. The scenario reflected a growth of the libertarian space in the province, which managed to establish itself as an alternative in the Misiones electorate. The elections took place normally and without relevant incidents. The election was marked by a moderate participation, which ranged between 55% and 57% of the electoral roll, composed by a little more than one million voters.