Is the expat party coming to an end?

[Ries]

There is the little matter of $23 billion in outstanding leliqs. Milei is making vague statements about international funds, but no details. Borrowing $25 billion in dollars is a Macri move, look how that worked out. Maybe he is going to sell patagonia or something.

 

[Reply Guy]

There is the little matter of $23 billion in outstanding leliqs. Milei is making vague statements about international funds, but no details. Borrowing $25 billion in dollars is a Macri move, look how that worked out. Maybe he is going to sell patagonia or something.

Alberto gave China a military base in Patagonia for funds, maybe Milei will give the US one of their own in return for some funds.

No good options in resolving the leliqs IMO

 

[grosso95]

The market seems optimistic for now, all us traded argentinian stocks are up.
We will see how Merval does tomorrow.

 

[sergio]

I thought the expat party ended by 2012 or so. The years following the coralito were full of backpackers, crustpunks, couchsurfers, and wide eyed dreamers. I remember the arty couple getting all the international press for their funky highrise apartment, the seemingly weekly meetings with new arrivals who had bought $25,000 apartments in Palermo, the global graffiti artists, and so on. All gone, fifteen years ago now.Tr

I thought the expat party ended by 2012 or so. The years following the coralito were full of backpackers, crustpunks, couchsurfers, and wide eyed dreamers. I remember the arty couple getting all the international press for their funky highrise apartment, the seemingly weekly meetings with new arrivals who had bought $25,000 apartments in Palermo, the global graffiti artists, and so on. All gone, fifteen years ago now.

True that many left when it got more expensive. There was a period when prices in dollar terms rose then later it reversed. Now it's cheap again and has been attracting people looking for a low COL. This has been going on for a number of years but is likely to change. I would expect a second exodus of expats.

 

[jblaze5779]

I'd rather the locals have some stability and a future than expats have a grand time.

 

[retiredbanker]

The market seems optimistic for now, all us traded argentinian stocks are up.
We will see how Merval does tomorrow.

The market. Gamblers using opm to bet. Some win. Some lose. However, it's opm, so no big deal as long as they get their commission.

 

[Ronnie Hotdogs]

I'm prepared to accept short term pain and a hit to my buying power in exchange for a chance at having a country that has a future.

I have a little Porteña who would probably like the chance to be able to stay in Argentina.

 

[wrangler]

Our buying power for certain items, mostly imported goods, has already been diminishing for some time due to the devaluation of the U.S. dollar. Let's not forget about The Happy Printers, Donald and Joe.

 

[Goata]

Dollarisation will take time if Congress even allows it. If he can follow through with his core plans the situation will stabilise with what will surely be higher prices including higher wages. In this sense Argentina would be a more predicatble and secure country but the social ienquality that the current system and leaders have engendered will dimnish. That will be a disadvantage for those currently with dollars who enjoy the high life as evidenced by the frequent discussions here about which high end parrilla is best.

Hmm, where to start? Sergio said, "In this sense Argentina would be a more predicable and secure county BUT the social inequality that the current system and leaders have engendered will diminish." I am not co-signing your statement but why do you say "but" as if diminishing social inequality is in opposition to having a more secure country? I will assume you meant to say AND rather than BUT. I don't see how eliminating free health care and education will diminish social inequality. Privitasing Aerolinus and YPF might lead to an influx of money for a minute or 2 but will hurt in the long run. Sounds like Carlos Menem 2.0 to me. I also take issue with the idea that a majority of expats with Euro's or Dollars take pleasure or comfort in seeing their adopted country suffer with catastrophic inflation to the detriment of it's people, infrastructure, future and stability. I personally am deflated when the Peso jumps and not just because I know how much it hurts Argentians but it is also bad for those of us looking to stay here forever. In a more tangible example, I bought my house for $110,000 4/5 years ago when the peso was 18P - 1USD for a total of 1,980,000 pesos. In todays rates at 900P to 1USD (dolar blue obviously) the house would cost 99,000,000P. That is just for reference, no one buys houses in Pesos and no one is going to pay me $110,000 for my house even though it is much improved. A high Dollar Blue is good for tourists but not Expats and always bad for Argentina.

 

[Goata]

What will be the likely consequences for expats?

I am responding to something said in the comments below, Sergio said, "In this sense Argentina would be a more predicable and secure county but the social inequality that the current system and leaders have engendered will diminish." I am not co-signing his statement, but why do you say "but" as if diminishing social inequality is in opposition to having a more secure country? I will assume you meant to say AND rather than BUT. I don't see how eliminating free health care and education will diminish social inequality. Privitasing Aerolinus and YPF might lead to an influx of money for a minute or 2 but will hurt in the long run. Sounds like Carlos Menem 2.0 to me. I also take issue with the idea that a majority of expats with Euro's or Dollars take pleasure or comfort in seeing their adopted country suffer with catastrophic inflation to the detriment of it's people, infrastructure, future and stability. I personally am deflated when the Peso jumps and not just because I know how much it hurts Argentians but it is also bad for those of us looking to stay here forever. In a more tangible example, I bought my house for $110,000 4/5 years ago when the peso was 18P - 1USD for a total of 1,980,000 pesos. In todays rates at 900P to 1USD (dolar blue obviously) the house would cost 99,000,000P. That is just for reference, no one buys houses in Pesos and no one is going to pay me $110,000 for my house even though it is much improved. A high Dollar Blue is good for tourists but not Expats and always bad for Argentina.