Weekly Wrap-Up, Week of May 11 | Inflation Relief, YPF's Record $25B RIGI Bet, $MELI Downgraded & $GLOB Surges

The weekly Argentina Brief breaks down the biggest economic and financial news from Argentina — in under 3 minutes.Full thread available on X: https://x.com/ArgentinaBrief/status/2055694184841933302This week:*April inflation falls to 2.6% — the lowest April print since 2017 (excluding 2020). Core held at 2.3%, food at 1.5%. Regulated prices (+4.7%) did the heavy lifting.*Country risk dipped below 500 basis points for the first time since January. Goldman Sachs's Alberto Ramos told Bloomberg Línea that Argentina could issue bonds now — but Caputo "isn't wrong" to wait for tighter spreads.*YPF filed the largest single RIGI project ever — a US$25 billion oil development in Vaca Muerta targeting 240,000 barrels per day by 2032, all for export. Four other projects were also approved, including a Chinese lithium expansion.*Grupo Financiero Galicia swung back to profit with ARS$66.5 billion in net income. The drag: Naranja X, whose NPLs surged 155% YoY.*MercadoLibre posted its fourth straight earnings miss. Citi downgraded the stock; five banks cut price targets. But Michael Burry is buying — his "load the truck" price is around US$1,300.*Globant jumped 12% after CEO Martín Migoya delivered a bullish AI message: "This industry is being reconfigured in front of our eyes. Globant was built for this moment."*The Central Bank disclosed it paid US$17.7 million in interest on the US$2.5 billion US Treasury swap — and revealed the China swap has been cut by two-thirds.Hosted by Francisco Aldaya