Since Javier Milei took office on 10 December 2023, Argentina’s central bank has been diligently buying reserves. However, this trend has now reversed. In June – a month typically favourable for reserve accumulation – the government faced its first run against the peso, forcing the Banco Central de la República Argentina to shed some of the reserves it had accumulated since May.
It is only a matter of time before investors turn back to emerging markets’ attractive inflation and growth dynamics, strong corporate fundamentals and notable turnaround stories.
Brent McIntosh, chief legal officer at Citi, and Christian Catalini, founder, MIT Cryptoeconomics Lab, discuss how the election might influence crypto regulations, markets and innovation.
Max Castelli, head of strategy, and Philipp Salman, director of strategy and advice, global sovereign markets, UBS Asset Management, discuss the latest trends in reserve management.
This publication, based on the Point Zero Forum 2024 in Zürich, provides perspectives on discussions about the future of finance from a policy and regulatory standpoint in Europe.
