Argentina’s economy kept recovering in Q2 2025, driven by fiscal order, a re-monetization strategy, and a flexible exchange rate scheme. The outlook is still shaped by the electoral context and the challenge of ensuring lasting stability in a volatile global environment.

Uruguay faces a global context of uncertainty and low growth. Domestically, there is a slowdown in GDP, fiscal challenges, and sluggish consumption and investment. However, the external sector is resilient, inflation remains stable, and the peso is showing strength.