Comments from Argentina’s President Fernández and his economy minister Martín Guzmán this week provided some relief that they don’t plan to return to ‘kirchnerismo’. But lingering uncertainty over the new government’s economic plans makes a swift agreement with the IMF unlikely and, while negotiations are ongoing, there is a serious possibility of a default on local-law debt. Elsewhere, the finalisation of a revised USMCA trade deal should relieve some investor uncertainty towards Mexico, but it’s unlikely to do enough to boost the economy out of its current weak patch.
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