Milei Vows to Ax Capital Controls and Negotiate Trump Trade Deal

Argentine President Javier Milei promised to lift capital and currency controls next year while his administration intends to negotiate a free trade agreement with the US once Donald Trump takes office.

International investors are keenly waiting for Milei to dismantle the scaffolding of controls he inherited a year ago that have discouraged foreign funds from putting money in the country despite one of the best bond rallies in emerging markets.

The narrowing gap between Argentina’s parallel and official exchange rates has nearly disappeared in recent weeks, which helps move the government closer to the lifting of controls. To fix the ...