Milei Running Out of Time for Austerity Project, Barclays Warns

Argentina President Javier Milei still has the political space to implement his reform agenda, but “time is against the administration,” Barclays says.

• Argentina should be able to make debt payments due in January and July 2025, strategists Ivan Stambulsky and Sebastian Vargas write in a note to clients Thursday
• Says that Argentina “has space to go further into negative net reserves without a confidence crisis if the final destination (ie, a functional macro regime) remains unquestioned”
• “That said, we also believe patience is limited and the sense of urgency fades as the economy normalizes. For that reason, the sooner the ...