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Argentina Speeds Legislative Drive as U.S. Trade Pact Nears Completion

The push hinges on securing governor votes for the 2026 budget during December’s extraordinary sessions.

Overview

  • Argentina’s ambassador in Washington, Alec Oxenford, said a commercial agreement with the United States is practically finished and that both sides are coordinating the timing of an announcement.
  • Oxenford said a $20 billion currency swap backed by the United States has already supported market stability, framing it as part of a broader effort to reinforce macroeconomic order.
  • Designated Interior Minister Diego Santilli is set to be sworn in on Tuesday at 3 p.m. and, alongside Chief of Cabinet Manuel Adorni, held bilateral meetings with San Juan’s Marcelo Orrego and Córdoba’s Martín Llaryora to lock support for the 2026 budget and second-wave reforms.
  • Orrego publicly committed to back the 2026 budget and discussed labor, tax and penal-code changes as well as a revised Glaciers Law, while Santilli prepares trips to meet additional allied governors this week.
  • Coalition tensions surfaced as Buenos Aires City leader Jorge Macri tied his budget support to regularizing delayed coparticipation payments and scheduled a Tuesday meeting with Economy Minister Luis Caputo, with the national government seeking to avoid a public clash.