Argentina: Milei in conflict with Congress but equities are still cheap

  • Reformist omnibus bill scuppered by a Congress that President Milei does not control

  • Milei can negotiate with Congress again, bypass it via presidential decree, or opt for non-binding referendum

  • A reminder of the enduring challenge to escape the economic crisis: yet, Argentina's ADR stocks look cheap
February 21st, 2024
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