June 19th, 2026
1. Argentina receives support from the World Bank to refinance its debt
On Tuesday, the World Bank approved a guarantee package worth USD 2 billion to support a financial operation by the Argentine government aimed at refinancing dollar-denominated debt and improving access to international financing. The transaction is part of a strategy by the Economy Ministry to raise approximately USD 4 billion in markets, with maturities extending through 2032 and a three-year grace period for principal and interest payments. The guarantees will cover 95% of payments related to the commercial loan the government obtained in the future. The arrangement combines a Policy-Based Guarantee (PBG) from the International Bank for Reconstruction and Development (IBRD) and a guarantee from the Multilateral Investment Guarantee Agency (MIGA). According to World Bank officials, the mechanism will help reduce the country’s financing costs and support reforms aimed at boosting investment, creating jobs, and strengthening economic activity. The package could be expanded with an additional guarantee from the IDB for USD 550 million and another from CAF (Development Bank of Latin America and the Caribbean) ranging from USD 250 million to USD 500 million, to be confirmed in July. Meanwhile, Economy Deputy Minister José Luis Daza met this week with IDB President Ilan Goldfajn, who expressed the bank’s intention to expand its financing tools for Argentina and highlighted progress in macroeconomic stability.
2. The Senate postponed its session, and the Chamber of Deputies moved forward with the report on the “Super RIGI”
The ruling party managed to postpone the Senate session scheduled for this week until Thursday, June 25, 2026, as a result of an agreement between the ruling party and the pro-dialogue blocs; in this way, they succeeded in delaying the questioning of Chief of Staff Manuel Adorni. During next Thursday’s session, the motion for questioning will be put to a vote, and if approved, Adorni will be required to appear before the Senate on July 2, when he could face a non-confidence motion, depending on his performance during that hearing. In addition, consideration of the bill on the Inviolability of Private Property and international agreements was postponed. Meanwhile, in the Chamber of Deputies, the majority committee opinion on the “Super RIGI” was signed, garnering 61 signatures with the support of La Libertad Avanza and allied blocs such as the PRO, the UCR, and others. This bill, sponsored by the government, aims to attract investments exceeding USD 1 billion in technology and manufacturing sectors, offering tax, foreign exchange, and regulatory benefits for 30 years. The initiative is geared toward attracting investments in areas such as the industrial processing of critical minerals, renewable energy, semiconductors, and artificial intelligence. The Unión por la Patria and Frente de Izquierda blocs rejected the bill, which is expected to be debated on the floor of the Chamber of Deputies next week.
TN: En medio del intento de interpelación a Adorni, el Senado levantó la sesión prevista para mañana
3. In May, the government posted a budget surplus and a record trade surplus
In May 2026, the National Public Sector recorded a primary fiscal surplus of ARS 1.92 trillion, up 13.4% from the same month in 2025, according to the Ministry of Economy. With this result, the government has now posted positive balances for five consecutive months. May also saw a fiscal surplus—which includes debt interest payments—of ARS 478,613 million, despite a 27.7% decline compared to May 2025. Interest payments totaled ARS 1.45 trillion. Total revenue reached ARS 14,531,657 million, a y-o-y increase of 27.8%, driven by tax collections, which grew by 30%. Some consulting firms noted that, after adjusting for inflation, total revenue recorded a real decline of 4.1% in May. In the first five months of 2026, the cumulative primary fiscal surplus was ARS 8 trillion (0.7% of GDP), and the fiscal surplus was ARS 2.48 billions (0.2% of GDP). At the same time, the trade balance posted a record surplus of USD 3,504 million in May, according to INDEC, marking the 30th consecutive month with a positive balance. Exports reached an all-time high of USD 9,537 million, up 34% y-o-y, while imports fell 7% to USD 6,033 million. In the first five months of the year, the cumulative trade surplus exceeded USD 11,800 million, surpassing the total for 2025, which was USD 11,320 million.
4. The industry utilized 59.9% of its installed capacity in April, the highest level in six months
Capacity utilization in Argentina’s industrial sector reached 59.9% in April 2026, the highest level in six months, according to national statistics institute INDEC. The figure exceeded the 58.6% recorded in the same month of 2025, representing a y-o-y increase of 1.3 percentage points, although it remains below historical levels, against a backdrop in which manufacturing output fell 2.8% y-o-y. The sectors that outperformed the overall average were oil refining (86.8%), basic metal industries (73.4%), chemicals and chemical products (69.9%), paper and cardboard (67.3%), and food and beverages (60.4%). Below the average were publishing and printing (58.5%), non-metallic mineral products (54.8%), tobacco products (49.2%), the automotive industry (46.5%), metalworking excluding automobiles (42.7%), and rubber and plastic products and textiles, both at 42.4%. In the metalworking sector, capacity utilization fell from 49.3% a year ago, affected by lower production of agricultural machinery and household appliances. Despite the improvement, the level of installed capacity utilization remains below the levels observed between 2021 and 2023, when it exceeded 67%.
Clarín: La industria usó en abril casi el 60% de su capacidad instalada, la marca más alta desde octubre
5. Registered employment fell 0.3% in March: there are 40,900 fewer jobs than a year ago
Registered employment in Argentina fell 0.3% y-o-y in March, with 40,900 fewer jobs than a year ago, and declined 0.2% compared to February. The total number of registered workers reached 12.83 million. The decline affected all employment sectors—private, public, and self-employed—and marked the first month in which the Labor Reform took effect. In the y-o-y comparison, formal private-sector salaried employment fell by 1.5%, equivalent to 96,700 jobs. Since the start of the current administration, 197,359 registered private-sector jobs have been lost through March 2026, with industry and commerce being the hardest-hit sectors. Looking at the breakdown by sector, in March, mining and quarrying (+0.5%), fishing (+0.3%), agriculture (+0.3%), and real estate and business activities (+0.1%) all saw growth. Meanwhile, the largest monthly declines were recorded in financial intermediation (-0.5%) and manufacturing (-0.4%). Commerce lost 2,147 jobs during the month and has lost more than 24,000 so far this year; manufacturing lost 5,043 jobs in March and nearly 48,000 y-o-y. At the provincial level, Neuquén (+3.3%), Río Negro (+3.2%), La Rioja (+3%), and San Juan (+2.2%) posted increases, while Tierra del Fuego (-9%), Chubut (-6.8%), and Corrientes and Formosa (-5.3%) led the declines. Formal wages remained below the y-o-y inflation rate of 32.6%.
iProfesional: Empleo registrado: cayó en marzo y se perdieron más de 40.000 puestos en un año: sectores y provincias más afectados