Argentina’s Stock Market Surges 54% Under Milei’s Presidency
Since economist Javier Milei of the La Libertad Avanza party assumed office on December 10, 2023, Argentina’s S&P Merval stock index has experienced significant growth.
By May 3, 2024, the index soared by 54%, reaching 1,452,002 points, up from 941,830 points on December 7, just before Milei’s presidency began.
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.
Javier Milei is scheduled to address international investors at a Milken Institute event on May 6, 2024.
This marks his first public appearance abroad since Argentina‘s Congress passed the “Omnibus Law,” which enabled his liberal economic policies.
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%.
More: Argentina news in English, every day from The Rio Times.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
-0.72%
175,664.62
+0.30%
65,484.32
-0.53%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 2,979,472 | -0.72% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| YPF | 7,810 | +0.26% | +72.84% | 7,790 | 7,850 | 7,600 | 1,763,858 |
| GGAL | 6,980 | -0.78% | +1.82% | 7,035 | 7,115 | 6,920 | 1,564,062 |
| PAMPA | 5,115 | +0.69% | +26.70% | 5,080 | 5,140 | 5,000 | 721,190 |
| TXAR | 747.50 | -2.35% | +18.67% | 765.50 | 770.00 | 742.50 | 771,892 |
| ALUAR | 938.00 | -1.21% | +29.83% | 949.50 | 951.00 | 932.50 | 135,426 |
| TGS | 8,870 | -0.17% | +15.05% | 8,885 | 9,075 | 8,720 | 143,546 |
| CEPU | 2,156 | +1.84% | +28.36% | 2,117 | 2,165 | 2,086 | 404,146 |
| MIRGOR | 1,650 | -1.20% | -92.90% | 1,670 | 1,670 | 1,635 | 20,877 |
| COME | 40.93 | -0.73% | -30.47% | 41.23 | 41.60 | 40.50 | 4,258,884 |
| LOMA NEGRA | 3,130 | +0.08% | +5.80% | 3,128 | 3,205 | 3,090 | 182,992 |
| BYMA | 275.00 | -1.70% | +35.14% | 279.75 | 282.50 | 272.00 | 1,409,575 |
| TELECOM ARG | 4,233 | -0.70% | +55.19% | 4,263 | 4,335 | 4,160 | 31,896 |
| GLOBANT | 38.10 | -2.26% | -49.65% | 38.98 | 38.70 | 36.77 | 793,552 |
| MERCADOLIBRE | 1,870 | -3.59% | -20.71% | 1,940 | 1,927 | 1,870 | 329,640 |
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