ARGENTINA: Inflation up Again & more – 16th Apr 2026

¡Buenos días from Greenway Parks! This is the Rorshok Argentina Update from the 16th of April twenty twenty-six. A quick summary of what's going down in Argentina.

We start this week with a reality check on the economy. On Tuesday the 14th, the INDEC statistics agency released the inflation numbers for March, and they aren’t what the government hoped for. Prices jumped 3.4% last month, making it the highest monthly reading of twenty twenty-six so far. This marks ten months in a row where the inflation rate has refused to go down. The biggest spikes were in education, which shot up over 12%, and transport, which rose 4% as fuel and ticket prices continue to climb.

President Milei acknowledged the number was bad but insisted he has evidence that the downward trend will return soon. Meanwhile, Luis Caputo, the Economy Minister, blamed the Middle East war hitting oil prices and the seasonal start of the school year.

In a related look at the checkbook, President Milei recently celebrated what he called record consumption in Argentina. He pointed to official figures showing that private consumption grew nearly 8% in twenty twenty-five.

However, private analysts like the firm Scentia see things differently. Their data shows that mass consumption of goods like groceries and household items actually fell by over 3% in February.

So, why the gap? Economists explain that households aren’t necessarily buying more things; they are just spending a much larger portion of their income on services they can’t avoid, like electricity, gas, and bus fares.

In other news, the government reached a staff-level agreement with the International Monetary Fund, or IMF, on Wednesday the 15th. This agreement should unlock about one billion dollars once the IMF board gives the final green light. The Fund was particularly happy with the recently passed labor reforms and the fact that companies can now move dividends out of the country for the first time in six years.

The IMF also noted that the Central Bank has bought over five and a half billion dollars so far this year. While they did lower their growth forecast for Argentina slightly due to global risks, they praised the country’s progress in opening up strategic sectors like mining and energy.

Regarding the legal troubles of Manuel Adorni, the Cabinet Chief, there’s been a significant development in the investigation into his wealth. On Monday the 13th, two women—a mother and daughter who both serve in the police force—testified in court about the 100,000 dollar cash loan they gave Adorni in twenty twenty-four. They told prosecutors the money came from personal savings and an inheritance, and they met Adorni for the first time on the day they signed the deal.

The judiciary is also looking into more luxury travel. New evidence shows Adorni and his wife flew back from a New York roadshow in March on tickets that cost over 10,000 dollars and took his whole family on a first-class trip to Aruba for New Year’s. While Adorni denies any wrongdoing, the court has now lifted his banking and tax secrecy to see if his official salary can actually cover these high-end expenses.

Turning to healthcare, doctors who treat patients through PAMI, the national healthcare agency for pensioners, are on a seventy-two-hour strike. The government recently changed how these family doctors are paid, doubling the fixed rate they get for each patient. But the doctors’ union says this is actually a disguised cut: By increasing the fixed rate but eliminating the payment for each individual appointment, the union claims many doctors will see their total earnings drop by 50%. They argue that the new payment of about one dollar and fifty cents per patient doesn’t even cover the cost of running an office.

PAMI says the move is meant to stop fraud and standardize pay, but doctors warn that many will leave the system, leading to longer wait times for the elderly.

There is also news concerning the battle over the ice in the Andes. Following the debate from last week, the Lower House officially approved the reforms to the Glaciers Protection Law in the early hours of Thursday the 9th. This change is a big win for the government and for governors in provinces in the West like San Juan and Mendoza, as it gives them the power to decide which areas are open for mining.

That said, environmental groups are already calling it unconstitutional.

Also on Thursday the 9th, a group of investigative journalists released a report alleging that Russia ran a disinformation campaign in Argentina. The report claims that more than twenty local digital outlets were paid more than 280,000 dollars to publish at least 250 articles pushing pro-Russia and anti-Ukraine narratives.

The government revoked the press credentials of several outlets named in the report. However, press unions and media organizations criticized the move as a form of censorship.

On a brighter note for those managing foreign currency, the Central Bank is making it easier for people to access US dollars. They recently lifted the fifty-dollar limit for cash withdrawals abroad using credit cards, which is great news for travelers. They also scrapped the rule that forced exporters to convert their earnings into pesos, though they still have to bring the money back into the country.

These changes are part of a slow process to normalize the economy while the exchange rate remains relatively calm. The bank has now spent over sixty days in a row buying up foreign currency, adding more than five billion dollars to its reserves since the start of the year.

On that note about growth, the government launched a new investment program this week called RIMI. It’s designed specifically for small and medium-sized businesses. To qualify, companies need to invest between 150,000 and nine million dollars depending on their size. In exchange, they get tax breaks and can write off their investments faster.

Switching to the world of sports, Lionel Scaloni, the coach of Argentina’s National Football Team, has a couple of big headaches. With less than sixty days to go before the World Cup, two of Argentina’s stars are facing injury scares. Defender Cuti Romero twisted his knee while playing for Tottenham, while Goalkeeper Dibu Martínez also gave fans a fright when he was pulled from a game in England during the warmup.

To keep the momentum going, the Argentine Football Association, AFA, announced two friendly matches in the US this June: one against Honduras in Texas and another against Iceland in Alabama.

In better news for the arts, Argentine writer Samanta Schweblin has won the first-ever Aena Narrative Prize in Spain. She took home one million euros for her latest book of short stories, El buen mal or The Good Evil. Schweblin, who is already a three-time Booker finalist, dedicated the award to the University of Buenos Aires, where she first fell in love with reading.

On the topic of local legends, the city of Buenos Aires honored two icons of the music industry this week. Producer Daniel Grinbank was named a Distinguished Cultural Figure for his fifty-year career. He’s the man who brought legendary acts like The Rolling Stones and U2 to Argentina and founded the influential Rock & Pop radio station.

Lyricist Marcelo Scornik received the same honor. He’s the pen behind some of the biggest hits in Argentine rock history, working with stars like Andrés Calamaro and Charly García. Even at sixty-six, he is still writing for the newest generation of indie and trap artists.

But while the city looks back to celebrate these careers, a different kind of tribute is splitting opinion among fans. Writing for the Buenos Aires Herald, journalist Fernando Romero Nuñez reflects on the controversy surrounding Soda Stereo’s Ecos tour. He notes that while the remaining members of Soda Stereo are playing to sold-out crowds, the use of recordings of the late Gustavo Cerati has divided fans over the band’s legacy.

You can check out the full piece in English with the link in the show notes.

Aaand that’s it for this week! Thank you for joining us!

Anything to tell us, info@rorshok.com.

¡Nos vemos la próxima semana!