Argentina's Ministry of Economy called a meeting with market representatives this afternoon to inform them of imminent announcements. Authorities invited several brokerage firms, where rumors of a possible relaxation of currency controls are circulating. Among the invitees are Puente, Cocos, and Allaria, three of the main clearing agents (Alyc) who maintain a good dialogue with the economic team. The minister held a lunch with President Javier Milei at the Olivos residence and the head of the Central Bank, Santiago Bausili. In a post about the meeting, it was announced that there will be 'news' in the coming hours. One hypothesis is that the cross-border restriction will be lifted, which prevents companies that have purchased official dollars from buying dollar bonds for 90 days. The Central Bank reinstated this restriction in September, before the elections, to avoid a greater drain on reserves. Another hypothesis is that 'Argentine shares will be included in the MSCI indices,' a benchmark indicator for global funds from which Argentina is excluded. This would be highly anticipated news for the market as it would accelerate the flow of capital into local assets. There is also talk of authorization for the financial sector to grant dollar loans to sectors that do not bring foreign currency into the country. According to sources from the economic team, the President has a decree pending to advance in this direction, and the Central Bank will be in charge of regulating it.
