A lower-profile announcement caught Euromoney’s eye after the bluster of the G20 meetings in Buenos Aires.

Another financial crisis has rocked the country. As it slips into what could be a deep recession, time is running out to achieve the recovery that could create the conditions for a pro-market candidate to win next year’s presidential elections.

They are used to dealing with a crisis, but they can usually see one coming. Does the shock of the IMF bailout leave local firms vulnerable?

If Argentina’s financial crisis is going to turn into a banking crisis, as it did in 2001, that transmission will first be identifiable in the deposits data.

The resignation letter of Luis Caputo, until September 25 the president of Argentina’s central bank, is effectively the IMF’s receipt for the purchase of the country’s monetary policy.

There’s an old joke about a tourist approaching a local to ask for directions: The local considers, sucks on his teeth for a while and replies “I wouldn’t start off from here if I were you”.

Ground shifts under banks’ move to normalization; financial, economic and political uncertainties to dominate boardrooms.

The country has blown its chances with its monetary mess.

Risk not commensurate with project debt returns; investment crucial to fill gap as economy normalizes.

Banco Galicia

The country’s gradualist approach to adjusting its fiscal deficit was always balanced on a knife-edge. The markets were willing to finance the experiment because of their faith in the economic team. But a recent unforced error has made the path to success even more precarious.

New tax laws complicate the government’s short-term fiscal challenge; credit negative for banks because of increased funding costs.

The region’s political highlight of 2017 went well.

Lack of regional liquidity cited as reason for NY IPO listings; strong pipeline in Brazil being dominated by more traditional companies.

Banco Supervielle is producing market-leading growth and has issued successful international equity and debt transactions, while other second-tier banks are ambitious and growing fast. But not everyone is tuned into the mid-tier banks’ aggressive growth potential.

Markets buoyed by win that eases path for further reforms; all eyes on investment boost needed for gradual fiscal adjustment.

Mid-sized banks moving quickly to take advantage of credit growth: focus on organic rather than acquisitive growth could be a positive.

President Mauricio Macri’s economic inheritance was toxic; his policy of gradual fiscal realignment looks like it will lead to success in this year’s crucial mid-term elections, but the country desperately needs investment to maintain the transition.

President Mauricio Macri’s success in Argentina’s primary elections suggests that his gradualist approach to reform might be the right strategy after all.

Volume key for profitability as banking market normalizes; flurry of equity deals to fuel M&A and organic growth.

Banks see normalization, with credit growth the driver of results; new mortgage product excites the market.

High-yield sovereign issuer sells a $2.75 billion century bond; bank valuations ‘hyped’ but room still seen to grow.

Argentina is no longer a name to make international bankers shudder.