Overview
- The Economy Ministry will auction the BONAR 2029N on December 10, a four‑year, 6.5% dollar bond under local law intended to cover roughly US$4.2–4.3 billion in January maturities.
- Extraordinary sessions from December 10–30 prioritize passage of the 2026 Budget along with reforms on labor, fiscal rules, the penal code and the glaciers law.
- Labor reform is set to enter through the Senate, where the official bloc must secure support from dialoguista groups as commissions on Budget and on Labor and Social Security are reconstituted.
- Markets showed short‑term calm after the debt announcement, with the peso easing and analysts watching whether new funds come from external investors or local dollar liquidity given the implications for reserves.
- November CPI will be reported December 11 and is expected above 2% (about 2.3%–2.5%), while ANSES has enacted a 2.34% benefit increase and a $70,000 bonus for minimum pensions in December.