Overview

• At the Córdoba industry colloquium, participants learned of Finance Secretary Pablo Quirno’s announcement that the Treasury will intervene in the FX market to defend the exchange-rate band, sharpening focus on volatility.
• Santa Fe Governor Maximiliano Pullaro said financing now runs near 70% interest, arguing that producing and investing are unviable at those costs.
• The UIA presented a “Nuevo contrato productivo,” a 10-point agenda calling for lower and simpler taxes, labor modernization, long-term credit, infrastructure and macro predictability.
• Santa Fe advanced emergency steps, including a request to issue up to US$1 billion in external debt for infrastructure and expanded credit subsidies, as companies such as Celulosa Argentina entered court protection and others reported severe strain.
• Economists described the turmoil as a short-term episode atop structural decline—stagnant output, scarce private credit and competitiveness gaps—while Cabinet chief Guillermo Francos said the government anticipated turbulence and intends to push reforms.