MercoPress https://en.mercopress.com/ South Atlantic News Agency en Copyright 2024, MercoPress. https://en.mercopress.com/web/img/en/mercopress-logo.gif MercoPress http://en.mercopress.com/ <![CDATA[Argentine presidential candidate Milei: “Should we dollarize?” or rather “Why should we keep the peso?”]]> “There is no future for Argentina with the Peso”, argues Argentine presidential front runner Javier Milei Next 22 October a presidential election will take place in Argentina, South America's second-largest economy and three candidates are competing for the job, Sergio Massa, the incumbent, Patricia Bullrich, from the traditional opposition when two coalitions prevailed in the Argentine political system, and Javier Milei, a declared libertarian, economist, and if published Argentine opinion polls can be trusted, the front runner.

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Sun, 01 Oct 2023 10:25:00 GMT
<![CDATA[Buenos Aires: “Blue” dollar keeps going up amid police raids]]> Aníbal Fernandez explained that they were trying to arrest a mysterious group known as “the liquidators” Argentina's Central Bank (BCRA) Wednesday sold US$ 130 million and 288 million yuan (around US$ 40 million) in a desperate move to keep the “blue” (a euphemism for “black market”) quotation from soaring any further after reaching AR$ 527 / US$ 1.

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Thu, 20 Jul 2023 09:17:00 GMT
<![CDATA[Argentina imposes more impediments to foreign trade; Central bank desperately short of US dollars]]> The Argentine Central Bank established a decree encouraging the non-collection of freight rates for imports to avoid delivering US dollars. Given the financial problems and shortage of foreign currency, on Wednesday, May 24, the leading shipping company MSC, followed by seven others, announced that, as from June, ‘freight collect’ will be charged for exports from Argentina, meaning that these charges will be billed to the party receiving a shipment, often called the consignee.

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Fri, 26 May 2023 09:07:00 GMT
<![CDATA[BCRA adjusts benchmark interest rate: 78% annually]]> It was the first monetary policy rate increase in 2023 and also since September last year Argentina's Central Bank (BCRA) Thursday decided to raise the benchmark interest rate by 300 basis points to 78% annually, it was announced in Buenos Aires the day after the INDEC said the Consumer Price Index for the month of February ad grew 6.6% for a year-on-year inflation of 102.5 %, the highest in the last 32 years.

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Fri, 17 Mar 2023 08:48:00 GMT
<![CDATA[No more foreign players for Argentine football clubs due to US dollar crisis]]> Argentina's Central Bank has frozen money wirings abroad thus preventing clubs from hiring players from foreign clubs Argentina's current economic crisis is taking its toll on football. Transactions involving foreign players who were about to be hired by local clubs have been put on hold after local clubs have been rendered unable to have access to the amount of US dollars needed for the deal to go through.

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Mon, 04 Jul 2022 20:43:00 GMT
<![CDATA[Argentina’s Central Bank raises interest rates amid growing inflation]]> The BCRA measure is in line with IMF guidelines, it was reported Argentina’s Central Bank (BCRA) Thursday increased interest rates to 42.5%, it was announced. The measure is consistent with recent talks between the Government of President Alberto Fernández and the International Monetary Fund (IMF).

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Fri, 18 Feb 2022 10:25:00 GMT
<![CDATA[Argentina might raise interest rates to keep US dollar at bay]]> The BCRA is looking for alternatives to avoid a sharp devaluation of the Argentine peso Argentina's Central Bank (BCRA) is considering raising the interest rate, in accordance with a suggestion from the International Monetary Fund (IMF), it was reported Wednesday in Buenos Aires.

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Wed, 15 Dec 2021 20:43:00 GMT
<![CDATA[Savers withdraw US $ 400 million from Argentine accounts amid fears]]> Given the national reserves, the withdrawals were considered negligible by financial authorities Argentine savers have withdrawn more than US $ 400 million from their bank accounts this week amid growing rumours that the Central Bank (BCRA) was considering a new "corralito", like the one implemented exactly 20 years ago in the days leading up to the resignation of President Fernando de la Rúa.

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Fri, 03 Dec 2021 18:42:00 GMT
<![CDATA[US dollar does not soar as expected following Argentina's elections results]]> Analysts foresee a change in the rhythm of the depreciation of the peso once the BCRA can no longer afford to keep its current policy active. Contrary to expectations, the unofficial exchange rate between the Argentine peso and the US dollar remained somewhat stable Monday following the ruling party's overall loss at Sunday's mid-term elections.

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Tue, 16 Nov 2021 09:45:00 GMT
<![CDATA[Unofficial exchange rate shows Argentina's de facto devaluation]]> Whenever uncertainty rises in Argentina, US dollars bring some peace of mind The unofficial exchange rate (commonly referred to as “blue”) of the Argentine peso against the US dollar Friday hit an all-time high, reaching a US $ 1 = AR $ 195 parity thus matching an all-time-high of exactly one year ago (Oct.23, 2020), it was reported.

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Fri, 22 Oct 2021 23:55:00 GMT