┌─────────────────────────────────────────────┐

│ Exchange rate heats up to close August: is │

│ Milei changing strategies? │

│ large - Buenos Aires Herald - │

│ unknown/unknown [ARG] │

│ │

│ The peso closed August above the AR$1,500 │

│ threshold for a full week for the first │

│ time, with the government appearing to │

│ loosen its intervention strategy amid low │

│ FX liquidity and seasonal export decline. A │

│ separate widely-syndicated claim pairing │

│ this with a new punitive press law could │

│ NOT be date-pinned and is not booked; only │

│ the market-observable price is scored. │

│ │

│ https://buenosairesherald.com/economics/dol │

│ lar-peso/exchange-rate-heats-up-to-close-au │

│ gust-is-milei-changing-strategies │

└─────────────────────────────────────────────┘

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│ Argentina Dollar Reserves: Caputo's US$10bn │

│ Cushion │

│ medium - The Rio Times - │

│ independent/independent [ARG] │

│ │

│ Gross reserves reached ~$49.6B on Aug 11, │

│ the highest in nearly seven years, after │

│ ~$13.5B of 2026 BCRA purchases (an $850M+ │

│ IMF payment dented them to $48.8B Aug 7), │

│ with a Moody's upgrade around late July and │

│ IMF endorsement; inflation reads are │

│ muddled across vintages (a ~33% y/y print │

│ vs 16-30% forecasts) and are booked as │

│ contested. Monetary independence improved │

│ near +2 to +3. │

│ │

│ https://www.riotimesonline.com/caputo-bcra- │

│ dollar-reserves-argentina/ │

└─────────────────────────────────────────────┘

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│ IMF chief praises Argentina's 'sacrifice' │

│ on Buenos Aires visit │

│ medium - Fortune - unknown/unknown [ARG] │

│ │

│ IMF MD Georgieva visited Buenos Aires July │

│ 27, praising the austerity program and │

│ saying restored market confidence brings │

│ the end of debt deals into view; inflation │

│ has slowed three straight months against a │

│ fragile FX-band framework with barely │

│ positive net reserves. Corroborates the │

│ improving-but-fragile trajectory already │

│ scored; holds. │

│ │

│ https://fortune.com/2026/07/28/argentina-mi │

│ lei-imf-georgieva-sacrifice/ │

└─────────────────────────────────────────────┘

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│ Country risk sits at 405 basis points, │

│ pressured by global energy-sector │

│ volatility │

│ medium - Perfil - tilt/independent [ARG] │

│ │

│ The spread held in the ~400-405bp │

│ 8-year-low band through the window, moving │

│ on global energy volatility rather than │

│ domestic factors, with the new $2B Bonar │

│ 2029 auction receiving offers July 15 │

│ (outside window, not scored). Argentina │

│ fiscal held at near 6. │

│ │

│ https://www.perfil.com/noticias/economia/el │

│ -riesgo-pais-se-ubica-en-405-puntos-basicos │

│ -presionado-por-la-volatilidad-global-en-el │

│ -sector-energetico-a35.phtml │

└─────────────────────────────────────────────┘

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│ Country risk hits 403 points: down 29% in │

│ 2026 │

│ medium - Perfil - tilt/independent [ARG] │

│ │

│ Argentina's JP Morgan country-risk spread │

│ fell to ~403bp July 10 (an 8-year low) │

│ after Minister Caputo's 2026-27 financing │

│ program, and the government cleanly paid a │

│ $4.2bn bond maturity with a new bond slated │

│ July 15. Argentina fiscal_state near 5 to │

│ 6. │

│ │

│ https://www.perfil.com/noticias/economia/el │

│ -riesgo-pais-toca-los-403-puntos-acumula-un │

│ a-baja-de-29-en-2026-y-marca-minimo-de-ocho │

│ -anos.phtml │

└─────────────────────────────────────────────┘

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│ Country risk hit its lowest level of the │

│ Milei era after the financial-program │

│ presentation │

│ medium - Infobae - unknown/independent │

│ [ARG] │

│ │

│ Argentina's JP Morgan country-risk spread │

│ fell to a Milei-era low (~408-412 bps) │

│ after Minister Caputo presented a 2027 │

│ financing program. A positive but │

│ sentiment-driven signal; Argentina │

│ fiscal_state near 4 -> 5. │

│ │

│ https://www.infobae.com/economia/2026/07/07 │

│ /el-riesgo-pais-toco-el-nivel-mas-bajo-en-l │

│ a-era-milei-tras-la-presentacion-del-progra │

│ ma-financiero/ │

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│ IMF Executive Board Completes Second Review │

│ of the Extended Arrangement Under the │

│ Extended Fund Facility and Concludes 2026 │

│ Article IV Consultation with Argentina │

│ medium - IMF - multilateral/multilateral │

│ [ARG] │

│ │

│ The IMF Executive Board completed │

│ Argentina's second EFF review, releasing a │

│ roughly 1 billion dollar tranche and noting │

│ net international reserves had risen about │

│ 4.8 billion dollars since end-2025, │

│ reflecting the central bank's daily │

│ FX-purchase program even as │

│ reserve-accumulation targets were still │

│ short of goal. │

│ │

│ https://www.imf.org/en/news/articles/2026/0 │

│ 5/21/pr26165-argentina-imf-completes-2nd-re │

│ v-of-extended-arr-under-eff-concludes-2026- │

│ aiv-consultation │

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│ Argentina's economy records sharpest │

│ monthly contraction under Javier Milei │

│ medium - Financial Times - │

│ independent/independent [ARG] │

│ │

│ Financial Times coverage (Ciara Nugent in │

│ Buenos Aires) referenced in the assessment │

│ research for Argentina. │

│ │

│ https://www.ft.com/content/b26b853c-aa68-44 │

│ c7-b34f-2feaf3cbbb4b │

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