Argentina’s Stock Market Surges 54% Under Milei’s Presidency

This surge reflects growing investor optimism under Milei’s economic leadership.

Alongside this significant stock market rally, other key economic indicators have shown encouraging trends.

Milei’s ambitious reform agenda, focused on privatization and labor flexibility, has brought fresh momentum to the economy.

Argentina’s Country Risk Index

Argentina’s country risk index dropped by 1,739 points since Milei took office, falling from 4,281 points on December 8 to 2,542 on May 3.

This data, provided by Guide Investimentos, evaluates the five-year Credit Default Swap (CDS), which measures economic confidence.

While this index is naturally volatile due to Argentina’s unpredictable economic climate, its downward trend signifies improved stability.

Though it reached 846 points on April 29, 2024, it rebounded to 2,542 by May 3.

Peso Depreciation Against the Dollar

The official exchange rate between the Argentine peso and the U.S. dollar has deteriorated by 142% under Milei‘s government, with the dollar now worth 878.5 pesos.

The unofficial “blue dollar” rate is at 1,040 pesos, representing a 6% increase.

Fiscal Surplus and Inflation

Argentina achieved a fiscal surplus of 275 billion pesos (around $313 million) in the first quarter of 2024, the first surplus for this period since 2008.

However, inflation remains a critical challenge, impacting 41.7% of the population living in poverty.

Although inflation slowed to 11% in March from 13.2% in February, the annual rate remains high at 287.9%.

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