Argentina stock market eases as Merval falls, peso stays steady amid IMF chief visit

Argentina’s benchmark S&P Merval index slipped 1.07% to 3,283,854 points on July 27, after a week of record highs driven by President Javier Milei’s economic reforms. The decline was led by financial and energy stocks, while a few leaders such as BBVA, Banco Macro and Grupo Supervielle posted gains earlier in the session.

The Argentine peso was virtually unchanged, trading at about ARS 1,470‑1,496 per US $, with the official rate holding steady and the blue market remaining at roughly US$ 1.525. Country‑risk spreads rose modestly to around 439 basis points.

The market backdrop featured a visit by IMF Managing Director Kristalina Georgieva, who met with senior economic officials and toured the Vaca Muerta shale basin. Her agenda focused on inflation, fiscal surplus consolidation and the pace of productive recovery, keeping investors attentive to policy signals.