ARGENTINA: Privatizing AySA & more – 21st May 2026

st of May: 2026

Let’s begin with the libertarian administration pushing forward with its plan to dismantle public entities. On Friday the 15th of May, the economy ministry published a resolution in the Official Gazette launching an international public bid to privatize AySA, the state-owned water utility. The government is putting its entire 90% stake up for sale to national and foreign investors, while the company’s employees will retain the remaining 10%.

Interested companies have until the 12th of August to submit questions, and the final deadline to submit offers is the 27th of August.

In other news from the privatization wave, the government just sold its 50% share in the energy company Citelec, which operates Transener, the country’s largest high-voltage electricity transmission network. ENARSA, the state-run energy firm, sold these shares to the Edison-Genneia consortium for 356 million dollars, leaving Pampa Energía as the owner of the other half.

This asset offload has caused deep friction with local unions. Cristian Jerónimo, a top leader of the CGT umbrella union, threatened to launch industrial action because he views the move as a threat to national industry.

Since we mentioned the tight grip on public accounts, the country’s financial sheets are showing positive results for the fourth consecutive month. Luis Caputo, the Economy Minister, announced on social media that the national public sector recorded a primary surplus of more than 600 billion pesos (about 420 million dollars) and a net financial surplus of 260 billion pesos (about 180 million dollars) during April.

President Milei celebrated the announcement, stating that a balanced budget is now a permanent policy of the state.

Now, let’s look at the ongoing investigation into Manuel Adorni’s personal finances. The Chief of Staff announced that he will not present his comprehensive asset declaration in May, but will instead submit it in early June, just before the FIFA World Cup kicks off.

Due to a recent administrative change, public officials actually have until the 31st of July to file their papers, but Adorni wants to submit his papers early to clarify the judicial probe into his wealth. Prosecutors are investigating how he funded extensive cash renovations on his country club estate and a house in Buenos Aires City, alongside a 65,000-dollar loan from a friend. Meanwhile, his brother Francisco Adorni, a provincial lawmaker, quickly amended his own statement to reveal a previously unlisted twenty-one-million-peso inheritance after a federal judge lifted his banking secrecy.

Speaking of allies of the president facing legal scrutiny, a massive political battle has erupted over José Luis Espert, a former lawmaker. In September of last year, Espert dropped out of the congressional race after authorities revealed he received 200,000 dollars from a trust linked to Argentine businessman Federico Machado, who faced drug trafficking and money laundering charges in the United States.

On Sunday the 17th of May, Machado reached a plea bargain in a Texas court, pleading guilty to money laundering and tax fraud in exchange for prosecutors dropping the drug trafficking charges. President Milei immediately took to social media to defend Espert, stating that the media had completely destroyed an innocent man’s career through an infamous operation. However, Espert still faces two active investigations in Argentine courts regarding the true nature of that 200,000-dollar transaction.

The intense friction surrounding these investigations and the falling popularity of the administration highlights how much the political climate is changing. Writing for the Buenos Aires Times in English, political analyst Marcelo J. García explores whether President Milei can successfully secure a second term.

García details how Milei has plummeted from one of the most popular regional leaders to one of the least in just six months, according to international polling data.

To read the full piece, check out the link in the show notes!

ncial coalitions ahead of the: 2027

In an update to a story from a previous show regarding the health scare at the southern tip of the country, a specialized scientific team has landed in Patagonia. They are testing the animals to see if they carry the specific Andes strain of hantavirus, which caused three deaths aboard the MV Hondius cruise ship that left the local port on the first of April.

Local authorities hope these tests will rule out a local infection entirely, protecting the regional tourism industry that draws 200,000 cruise visitors every winter.

While scientists hunt for answers in the south, commuters in the capital are facing a much higher cost of living. A joint report by the University of Buenos Aires and CONICET revealed that a typical family in the metropolitan area without subsidies needed approximately 250,000 pesos (about 180 dollars) in May to cover basic utilities and transport, a 17% jump from April. Natural gas bills spiked by over 53% due to cold weather, while electricity rose by nearly 38%.

This financial squeeze comes even as the INDEC statistics bureau announced that April inflation dipped to 2.6%, marking the first monthly slowdown in eleven months. President Milei celebrated the drop as a return to normalcy, though local economists warn that adjusting public utility rates based on past inflation creates an inertia that makes hitting zero percent inflation incredibly difficult.

On that note about the rigid economic rules governing local markets, international corporations are finding it harder to navigate the local bureaucracy. The TMF Group published its global complexity index, ranking Argentina as the ninth hardest country in the world to do business in, dropping two places from last year. The report highlights that despite the president’s heavy deregulation push, companies face massive administrative burdens due to constant legal updates and a lack of digital processing that forces manual filings.

As we approach the chilly winter days, local commerce in the capital is suffering a deep freeze. The 50th Buenos Aires Book Fair closed its anniversary edition at La Rural with highly polarized results. Organizers reported a record attendance of 1,340,000 visitors, representing an 8% increase from last year. However, independent and mid-sized publishers revealed that actual sales plummeted, with many finishing 10% below last year’s figures.

Turning to an outgoing shipment of highly endangered species, a shocking wildlife trafficking operation was intercepted at the Ezeiza International Airport in Buenos Aires. The National Environmental Control Brigade, alongside customs officials, executed an unprecedented emergency rescue after discovering over 700 marine animals smuggled from Kenya.

The shipment was destined for the exotic ornamental pet trade. The animals spent 120 continuous hours confined in plastic bags, leaving many dead and others suffering severe physiological shock.

The Temaikèn Foundation mounted an emergency structure at their facilities in Greater Buenos Aires, working for twenty-eight continuous hours to perform delicate drip-adaptation procedures on each surviving animal to stabilize their water temperature and salinity.

To close this edition on an inspiring note about protecting our global ecosystems, a local explorer has made international history. Fernando Tarapow, a university professor and polar expedition guide, became the first Argentine nominated for the prestigious Shackleton Medal. The international award recognizes individuals who dedicate their lives to the environmental protection of Antarctica and the Arctic.

Tarapow, who served in the Argentine Navy for four decades before specializing in international polar law, conducts educational missions on cruise ships to combat microplastics and protect whale populations.

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

Anything to ask or tell us, info@rorshok.com.

¡Nos vemos la próxima semana!