The Argentina MotoGP, which was due to be held in early April at the Termas de Rio Honda circuit, has been cancelled, organisers Dorna announced on Wednesday.
The event, scheduled as the third race of the season after Qatar and Portugal, "will not be replaced in the calendar" they said in a statement.
"Due to the current circumstances in Argentina, the promoter of the event has informed us that it is currently unable to guarantee the quality of services required to organise the Grand Prix in 2024," Dorna said in the joint statement with the International Motorcycling Federation (FIM).
The cancellation had been on th cards since new president Javier Milei took office in December vowing to slash spending and end decades of economic crisis in South America's third-largest economy, where annual inflation stands at over 200 per cent
Milei has warned that economic "shock" treatment is the only solution to the country's troubles.
The Argentine MotoGP, which benefited from substantial public funding, was due to celebrate its tenth anniversary on the calendar this season.
"MotoGP hopes to return to Termas de Rio Hondo in 2025," concluded the brief press release.
The calendar for 2024 will now comprise 21 races although there remains uncertainty over the Kazakhstan MotoGP which was cancelled in 2023 because the brand new Sokol circuit could not be completed in time.
With 21 Grands Prix instead of 22 the 2024 season will still be a record-breaking one! 🙌
— MotoGP™🏁 (@MotoGP) January 31, 2024
Check out the updated version of the calendar! 🗓️#MotoGP2024 pic.twitter.com/HyEb3Y6GKg