Argentina: Peso Crawling Peg To Endure Through 2024, But Year-End Devaluation Likely
Country Risk / Argentina / Mon 03 Jun, 2024
Key View
- Despite government commitments to hold the peg through the rest of 2024, we believe a one-time devaluation (as a first step towards removing the cepo) or acceleration of the crawling peg in Q4 2024 is likely. This underpins our forecast that the peso is likely to average ARS1,050/USD in 2024 and end the year at ARS1,200/USD.
- We forecast that