突然，暴跌！阿根廷紧急救市！

Core Viewpoint - Argentina is facing a severe currency crisis, prompting the central bank to intervene in the foreign exchange market by selling a total of $1.11 billion to support the peso, which has depreciated significantly against the dollar [1][3][4]. Group 1: Currency Intervention - The Argentine central bank sold $678 million on Friday, following sales of $379 million on Thursday and $53 million on Wednesday, marking a total intervention of $1.11 billion over three days [3]. - The peso has depreciated nearly 11% against the dollar in the past month and has seen a year-to-date decline of 30.1% [3]. Group 2: Government Response - Economy Minister Luis Caputo vowed to use "the last dollar" to defend the exchange rate and plans to guarantee payments on international bonds maturing in January and July 2026 [4]. - The government has implemented new foreign exchange controls to stabilize the currency, including stricter regulations on banks and prohibiting certain financial transactions [9][10]. Group 3: Political Context - The peso's collapse is attributed to a political crisis, following unexpected electoral losses for President Javier Milei's party, which undermined investor confidence in his ability to maintain a free-market agenda [8][9]. - The upcoming midterm elections on October 26 are critical, as they will reflect public sentiment towards Milei's economic policies and could influence the stability of his administration [9]. Group 4: Economic Implications - Analysts warn that the massive sale of dollars to support the peso could lead to a significant contraction in economic activity, potentially resulting in credit tightening and economic recession [4]. - The International Monetary Fund's (IMF) $20 billion loan has provided temporary relief but has not led to a sustainable accumulation of reserves, leaving Argentina with limited foreign exchange resources [4].