Latam Insights Encore highlights Argentina’s recent economic shift as President Javier Milei commits to lifting currency controls ("cepo") and stabilizing the peso against the dollar. The government secured a $20 billion, 48-month IMF Extended Fund Facility to support reforms, open the economy to foreign investment, and maintain exchange rate stability between 1,000 and 1,400 pesos per dollar. The central bank intervenes if the rate moves outside this band, aiming to prevent sharp devaluation and inflation. Early results show dollar stability, reflecting cautious confidence in Milei’s plan. Success would mark a major policy shift, while failure risks worsening inflation, devaluation, and rising debt with the IMF and other lenders
