Weekly Wrap-Up, Week of June 22 | Adorni Resigns, Q1 GDP Beats, MSCI Says No, Caputo Funds July Payment
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Weekly Wrap-Up, Week of June 22 | Adorni Resigns, Q1 GDP Beats, MSCI Says No, Caputo Funds July Payment
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A dramatic week in Argentina. Chief of Staff Manuel Adorni resigned on Saturday after more than three months under scrutiny over his unexplained wealth — becoming the fourth person to hold the post in just 2.5 years. Meanwhile, the economic data painted a mixed picture: Q1 GDP beat expectations, but unemployment ticked up. MSCI declined to reclassify Argentina, and Economy Minister Luis Caputo secured the dollars for the July bond payment at a rate well below Wall Street.
*Adorni resigns amid wealth scandal — Interior Minister Diego Santilli floated as likely replacement
*Q1 GDP grows 0.7%, beating forecasts — unemployment rises to 7.8%
*MSCI keeps Argentina in Standalone status — reclassification off the table until at least 2027
*Caputo funds the July 9 bond payment at 6.7%, avoiding international markets
*The official dollar jumps 4.5% in June
*Government confidence rises for the first time in 2026
*Knowledge Economy exports surpass US$10 billion for the first time