# Citi exec: Argentina's economic progress

> Citi's FX head highlights Argentina's rapid economic improvements and market resilience.
- Title: Citi exec: Argentina's economic progress · Buenos Aires Herald
- Summary: Citi's FX head highlights Argentina's rapid economic improvements and market resilience.
- Keywords: argentina, citi, trade balance, fiscal surplus, inflation, exchange rate, javier milei, elections, dollar, fed, interest rates, Buenos Aires Herald
- Source: Buenos Aires Herald — https://buenosairesherald.com/economics/argentina-has-made-huge-progress-in-a-very-short-time-says-citi-exec
- Author: Juan Marcos Pollio
- Published: 2026-11-07T13:53:20+00:00
- Read time: 1 min
- Topics: argentina, citi, fx, trade balance, fiscal surplus, inflation, exchange rate, javier milei, elections, dollar, fed, interest rates
## Sam Hewson returns to Argentina
After eight years away from Argentina, Citibank’s Head of FX Sales returned to the country amid heightened volatility in international markets.
## FX market volatility
The FX volumes recorded this year are the best since 2010 in Citibank’s global franchises, driven by geopolitical tensions and risks.

> The FX volumes we’ve recorded this year are the best we have seen since 2010 in our global franchises
## Complex supply chains
Clients now face more complex exposures due to diversified supply chains, greater logistical challenges, and multi-currency operations.
## Latin America currency strength
Clients have stronger conviction in Latin American currencies, particularly those with positive terms of trade and fiscal surpluses.
## Argentina's economic progress
Argentina’s trade balance, fiscal surplus, slowing inflation, and stable exchange rate show huge progress in a very short time.

> It feels from an international point of view like a material positive change in dynamic and one in which huge progress has been made in actually a very short amount of time
## Elections and volatility
Any election creates uncertainty and volatility, though Argentina’s current outlook remains positive despite next year’s elections.
## Dollar market shifts
The dollar weakened after Trump’s return to the White House due to tariffs and AI-driven market shifts.
## Fed rate hike impact
The Fed’s September interest rate hike under Kevin Warsh boosted market confidence in the central bank’s independence.
## Key takeaway

Citi's Sam Hewson says Argentina has made huge progress in a very short time with improved trade balance, fiscal surplus, and stable exchange rate.