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Milei Temporarily Scraps Grain Export Duties and Heads to New York for Backing

A U.S. Treasury show of openness to assistance follows heavy central bank interventions that exposed the currency squeeze.

Overview

  • By decree 682/2025, the government set export duties on all grains at zero until October 31 to accelerate hard‑currency inflows into dwindling reserves.
  • Javier Milei postponed his departure, convened his mesa política and full cabinet, then left for New York for a bilateral with Donald Trump, talks with IMF chief Kristalina Georgieva, and a UN address.
  • Treasury Secretary Scott Bessent said the United States stands ready within its mandate to support Argentina, signaling options under consideration without announcing a package.
  • The central bank sold about US$1.1 billion over three sessions last week to defend the exchange‑rate band as the dollar surged and local assets fell.
  • The government promulgated the disability‑emergency law but suspended its application via decree 681/25 pending budget funding, as recent congressional votes also overrode key presidential vetoes on spending.