August 14th, 2026
1. Inflation rose above 2% again in July and has now reached nearly 20% over the past seven months
The National Institute of Statistics and Censuses (INDEC) released the inflation figures for July, which showed a monthly change of 2.1%, a year-over-year increase of 33.8%, and a cumulative increase of 19.3% so far this year. As a result, the Consumer Price Index (CPI) broke a three-month streak of declines and rose by 0.2 percentage points from the 1.9% recorded in June. The category with the highest increase during the month was Recreation and Culture, which rose 5.0% due to higher prices for tour packages and cultural services. Restaurants and Hotels ranked second, with a 2.8% increase. In contrast, the smallest changes nationwide were observed in Clothing and Footwear, which fell by 1.3%, and in Alcoholic Beverages and Tobacco, which rose by 1.5%. Likewise, INDEC also reported that the cost of the Total Basic Basket (CBT), which determines the poverty line, rose 2.2% in July, remaining at the same level as last month. Despite this, the Basic Food Basket (CBA), which establishes the extreme poverty threshold, jumped 2.6%—the highest percentage increase in the last five months. Both baskets exceeded the overall inflation rate. Thus, a typical family needed $1,564,716 to avoid falling into poverty, while the figures showed that the threshold to avoid falling into extreme poverty was set at $708,016.
Ámbito: La inflación volvió a superar el 2% en julio y ya acumula casi 20% en siete meses
2. The government readjusts its legislative strategy following the setback in the Senate
The government’s political committee, led by Karina Milei, met again at the Casa Rosada and, exceptionally, included Federico Sturzenegger, the Minister of Deregulation and State Transformation. The meeting took place following the Senate’s preliminary approval of the Private Property Inviolability Act, which was passed after the chapters on foreign land ownership and fire management were removed due to a lack of support, even from allied governors and dialogue-oriented political caucuses. The main decision was a change in the decision-making process: bills drafted by the Ministry of Deregulation (thirteen initiatives currently in the pipeline) must now go through the political committee before being sent to Congress, in order to set priorities, gauge consensus and appropriate timelines, and anticipate conflicts with provincial blocs. Priority will be given to “transformational” and economic reforms; the first will be the capital markets reform, followed by initiatives on the real estate market and coastal shipping, the “Hojarasca” law, and the reform of the Corporations Act. In terms of communications, the ruling coalition decided to publicly present each bill, with spokespersons designated by topic, replicating the approach used for the reform of the Central Bank’s Charter which has immediate legislative priority, and for the Tax Innocence Law II. It also decided to expand the committee to include other ministers in order to unify management criteria.The meeting also served as a show of political support for Sturzenegger, as confirmed by presidential spokesperson Adrián Ravier. Meanwhile, Diego Santilli and Luis Caputo are stepping up their efforts to engage with governors from the Norte Grande region.The meeting concluded behind closed doors, with no photos.La mesa política del gobierno, conducida por Karina Milei, se volvió a reunir en Casa Rosada e incorporó, de manera excepcional, al ministro de Desregulación y Transformación del Estado, Federico Sturzenegger. El encuentro se produjo tras la media sanción de la Ley de Inviolabilidad de la Propiedad Privada en el Senado, aprobada luego de retirar los capítulos sobre extranjerización de tierras y manejo del fuego por falta de apoyo, incluso de gobernadores aliados y bloques dialoguistas. La principal definición fue un cambio en el circuito de decisiones: los proyectos elaborados por Desregulación, trece iniciativas en cartera actualmente, deberán pasar por la mesa política antes de girarse al Congreso, con el fin de fijar prioridades, medir consensos y tiempos adecuados, así como anticipar conflictos con bloques provinciales. Se privilegiarán las reformas “transformacionales” y económicas; la primera será la del mercado de capitales, seguida de iniciativas sobre mercado inmobiliario y cabotaje, la ley “Hojarasca” y la reforma de la Ley de Sociedades. En lo comunicacional, el oficialismo resolvió presentar públicamente cada proyecto, con voceros designados por temática, replicando el esquema aplicado a la reforma de la Carta Orgánica del Banco Central, la cual tiene prioridad legislativa inmediata, y a la Inocencia Fiscal II. También se decidió ampliar la mesa a otros ministros para unificar criterios de gestión y comunicación. La convocatoria operó, además, como respaldo político a Sturzenegger, ratificado por el vocero presidencial Adrián Ravier. En paralelo, Diego Santilli y Luis Caputo profundizan las gestiones con gobernadores del Norte Grande. La reunión cerró con hermetismo y sin foto de unidad.
3. During a week without sessions, the ruling party moved forward with its bills in committee
Although there were no sessions in either chamber of Congress during the week, significant progress was made in committee work. While the Chamber of Deputies is scheduling its next session for August 19 or 26, with the Fiscal Innocence Act II and the reform of the Central Bank’s Charter as the main topics, the Senate has not yet set a date.The main development this week was that, in the Chamber of Deputies, the ruling coalition moved forward with the draft bill to reform the Fiscal Innocence Law, incorporating changes to secure the support of its allies: La Libertad Avanza gathered 44 signatures, with backing from the UCR, PRO, MID, and Innovación Federal, and aims to pass the bill in its first reading on August 26. The main change was to exclude from the benefits of the simplified income tax regime those who are or have been public officials within the last five years; they will be able to file and pay taxes but will lose the presumption of accuracy and be subject to audit by ARCA. Fines for small and medium-sized enterprises were also reduced, and the elimination of asset and income thresholds for eligibility was maintained. The opposition characterized the initiative as a new tax amnesty. Meanwhile, with 42 signatures, the reform of the BCRA’s Charter was approved and is now ready for debate. In the Senate, the General Legislation Committee heard from experts on the Corporations Act proposed by Federico Sturzenegger, with divided opinions on “automated corporations”; the debate will continue next week with business leaders. Meanwhile, the Finance and Budget committees made progress on the “Super RIGI” bill, which has already passed the Chamber of Deputies, with officials from the Ministry of Economy defending the tax regime while the opposition questioned its environmental impact and its effects on investment and employment. A new meeting is scheduled for next Wednesday. The government’s strategy focuses on finalizing economic reports within the committee to pave the way for the bill’s passage by late August.
4. Luis Caputo announced the availability of dollar-denominated loans for businesses
The Ministry of Finance, Economy Minister Luis Caputo announced that the government will move forward with an Emergency Decree aimed at modifying the dollar-denominated credit system for businesses. The minister explained that this represents a partial opening of the foreign currency financing scheme, exclusively for legal entities, and which will allow more companies to apply for this type of loan. Until now, access was restricted to export firms or companies backed by guarantees linked to the export sector; therefore, the decision aims to expand credit options within the financial system. “Banks will only be able to lend up to 15% of their dollar deposits; there will also be minimum capital requirements and limits on credit exposure,” the minister explained. He added: “The reality is that we view the rationale behind this as macroprudential.” “The savings are already there, tucked away under the mattress. But if a bank can only offer 1% annually on a dollar-denominated time deposit because it lacks lending capacity, people won’t be tempted to deposit their money,” the official said, explaining the decision.
Perfil: Luis Caputo anunció la apertura de créditos en dólares para empresas
5. The U.S. ambassador sparks controversy after calling for Chinese companies to be excluded from strategic projects in Argentina
The U.S. ambassador to Argentina, Peter Lamelas, called on local companies to exclude Huawei from strategic projects and warned of the risks of using Chinese technology in sectors such as energy and mining. He made these remarks at the AmCham Energy Forum, where he argued that data protection and technological security are essential conditions for attracting foreign investment.There, Lamelas focused on the involvement of Chinese companies in strategic infrastructure, questioning the link between Huawei and the Chinese Communist Party and asserting that companies from that country may be required to hand over information to the Chinese government. According to the diplomat, using that technology could hinder the flow of foreign investment into Vaca Muerta. His remarks came days after his embassy warned the CALF electric cooperative, a distributor in Neuquén, about its negotiations with Huawei to upgrade network equipment. The controversy arose when the embassy sent a communication that the cooperative interpreted as a threat: a possible restriction or revocation of visas for executives who deepened ties with the Chinese company. CALF made that communication public and responded with letters to the Foreign Ministry and the Embassy, in which it defended the multi-vendor nature of its networks and maintained that its purchasing decisions are based on technical and economic criteria, not political ones. The Chinese Embassy in Buenos Aires accused Washington of exaggerating the threat posed by its technology and of meddling in a commercial relationship between private entities.The exchange put Javier Milei’s government in an awkward position, as it seeks to maintain both its alignment with the United States and its economic ties with China, strengthened weeks ago with the renewal of the swap agreement between the two countries’ central banks.ancos centrales de ambos países.
IProfesional: EE.UU. busca excluir a Huawei y evalúa financiar una obra de u$s800 millones en Argentina