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Argentina's government, after losing midterm elections, has been spending dollars from reserves to support the peso amid high inflation. Savers are moving funds outside the banking system despite capital controls.
Talks with the IMF are reported to be nearing their final stage.
Reserve depletion and capital flight raise the risk of a sharp peso devaluation, which would make Argentine soymeal and grain exports cheaper and could pressure world meal prices. An IMF deal would be a key signal for the currency outlook.
reuters.comJorge OtaolaDec 23, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
