A Day of Energy and Endorsement: Georgieva in Vaca Muerta
On July 28, 2026, IMF Managing Director Kristalina Georgieva capped off her official agenda in Argentina with a visit to the Loma Campana oil field, the crown jewel of the Vaca Muerta shale formation in Patagonia. Accompanied by Economy Minister Luis Caputo and YPF President Horacio Marín, Georgieva toured a state-of-the-art drilling rig and met with local officials, including Neuquén Governor Rolando Figueroa.
During the tour, Marín highlighted Argentina’s potential to become a global energy exporter. Georgieva had earlier praised the country’s economic turnaround: inflation has dropped from a staggering 250% to 30% annually, and the Central Bank’s reserves have climbed to over USD 49 billion. “Don’t worry about Argentina not having the money to pay – keep buying, keep buying,” she told reporters, referring to the reserve buildup.
Dinner with Argentina’s Business Elite
The night before, Georgieva attended a private dinner at the exclusive Palacio Duhau in Buenos Aires’ Recoleta neighborhood, hosted by the IMF. No government officials were present, but a dozen of Argentina’s most powerful business leaders joined the table.
Among the attendees were Eduardo Elsztain (IRSA real estate), Jorge Brito (Banco Macro), Marcos Bulgheroni (PAE energy), Juan Martín de la Serna (Mercado Libre), and Pierpaolo Barbieri (fintech Ualá). The dinner served as a sounding board for the challenges and opportunities of the government’s economic plan.
Political Backlash: ‘Persona Non Grata’ Motion in La Plata
While the national government welcomed the IMF’s support, a different mood prevailed in the city of La Plata, capital of Buenos Aires province. On July 24, 2026, the local council block Fuerza Patria introduced a decree (No. 81597) to declare Georgieva “persona non grata” in the district.
Councilwoman Josefina Bolis argued that the visit “endorses a fiscal adjustment without social balance and an extractivist model.” A similar motion was filed in the National Chamber of Deputies by lawmakers from the opposition coalition Unión por la Patria. The symbolic move reflects deep divisions over the IMF’s role in Argentina’s austerity measures.
Milei in Peru: Inauguration, Honorary Degree, and a National Address
Meanwhile, President Javier Milei traveled to Lima, Peru, to attend the inauguration of Keiko Fujimori as the country’s new president on July 28, 2026. Before the ceremony, Milei held a bilateral meeting with Fujimori at Torre Tagle, where they agreed to strengthen cooperation on economy, security, and technology.
Milei also received an Honorary Doctorate from the University of San Martín de Porres. Back in Buenos Aires, the presidential spokesperson confirmed that Milei will deliver a national address on Thursday, July 30, at 8:00 PM to explain the proposed reform of the Central Bank’s charter. The government also defended its stance in the ongoing diplomatic spat with Brazil, insisting that differences with President Lula da Silva are ideological, not diplomatic.