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Montevideo, May 23rd 2018 - 14:58 UTC

Tag: Argentine economy

  • Monday, May 14th 2018 - 08:20 UTC

    The Economist: Will Argentina's woes spread?

    Argentina’s rate of inflation, which exceeds 25%, seems to belong to a lost world. Only in Egypt, Nigeria and Turkey is inflation even in double digits.

    Argentina has much in common with yesterday's emerging markets, but little in common with today's

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  • Friday, May 11th 2018 - 05:39 UTC

    IMF and White House support Macri's economic reform program

    “I stressed my strong support for Argentina's reforms to date, and expressed the Fund's readiness to continue to assist the government,” Lagarde said

    International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

  • Wednesday, May 9th 2018 - 20:19 UTC

    US Dollar rises: Uruguay behind Argentina

    The exchange houses in the center of Montevideo today marked up to 31.70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday - the highest in five years. Photo: Sebastián Astorga

    After several days up in Argentina, the devaluation of the Argentine peso and the rise of the US dollar have had some impact on the other side of the River Plate, where the exchange houses of downtown Montevideo marked on Wednesday the value of the currency up to 31,70 Uruguayan pesos per dollar, a rise of 2.08% compared to Monday —the highest in five years—. For the Uruguayan government, the country follows the global trend and calls for calm, beyond the noise generated in Argentina, which is beginning a dialogue between the Finance Minister, Nicolás Dujovne, and the International Monetary Fund (IMF) in Washington.

  • Friday, March 23rd 2018 - 09:06 UTC

    Argentina expanded 2.9% last year; 2018 challenging given the persistent drought effect on crops

    The administration of president Mauricio Macri has pledged some credit and fiscal support for the embattled farmers.

    Argentina's economy expanded 2.9% in 2017 from the prior year and 3.9% in the fourth quarter versus the same period in 2016, the Indec statistics agency said this week. The year-over-year figure was slightly above the 2.8% annual growth rate given last month by Argentina's monthly economic activity indicator, seen as a proxy for gross domestic product.

  • Tuesday, February 20th 2018 - 09:23 UTC

    Union leader political rally in Buenos Aires to challenge Macri and his policies

    Moyano and his teamsters, supported by the bank employees and teachers unions are protesting against a 15% cap on the next round of salary negotiations

    The Argentine powerful teamsters union will be holding their first political rally in downtown Buenos Aires this Wednesday in a clear defiance of President Mauricio Macri's policies to combat inflation, launch the economy and attract foreign direct investors. Hugo Moyano a member of the unions' umbrella organization has promised to convene some 300.000 workers and has anticipated that any incidents will be the responsibility of the government.

  • Thursday, September 28th 2017 - 21:54 UTC

    Argentine economy picked up speed in July expanding 4.9% from a year earlier

    Construction is booming led by greater public spending on infrastructure projects, expanding private sector credit and rising interest from property developers

    Argentina's economic recovery picked up speed in July, expanding 4.9% from a year earlier as President Mauricio Macri's pro-growth policies appeared gain traction. July's year-over-year expansion is the highest posted by Argentina in more than two years and it moves the country closer to hitting its target of 3% growth this year.

  • Sunday, May 14th 2017 - 09:05 UTC

    Argentine officials confident economy exited recession and should grow 3% this year

    “I am very sure that the Argentine economy will grow more than 3% this year,” Dujovne told an investors' conference in Buenos Aires.

    Argentine Treasury Minister Nicolas Dujovne said he was confident the economy would grow more than 3% this year, while another treasury official said the economy had rebounded in March after declining the prior two months.

  • Friday, April 28th 2017 - 03:03 UTC

    Argentine economy contracted in February, but in March consumer confidence is picking up

    Activity suffered in February because of a government decision to change the way banks and retailers allowed consumers to finance purchases in multiple installments

    Argentina's economy contracted 2.2% on the year in February, indicating that the country's widely expected fiscal recovery may end up being slower than anticipated this year. The economy also shrank 1.9% from the previous month, the national statistics agency Indec reported. The data come after Argentina's economy grew 1.4% on the year in January.

  • Wednesday, April 5th 2017 - 06:32 UTC

    S&P raised Argentina's credit rating to “B”, on the “verge of exiting recession”

    The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth.

    Standard & Poor's raised Argentina's credit rating one notch Tuesday, from B- to B, saying Latin America's third-largest economy was on the verge of exiting recession.The rating bump gives a boost to conservative President Mauricio Macri, who has launched sweeping - often unpopular - economic reforms aimed at reviving growth.

  • Wednesday, March 29th 2017 - 10:37 UTC

    Argentine minister confident agriculture and public works will boost the economy

    “We're witnessing an investment shock of infrastructure, as never seen before in Argentina”, emphasized Dujovne

    Argentine Finance minister Nicolas Dujovne said on Tuesday that the economy's recovery at the start of the year was based on investment and not in consumption. “It is a heterogeneous recovery, with performance in different sectors: government social expenditure was up 70% but manufacturing was down 80%, mainly because of the Brazilian recession, and domestic contraction”, admitted the minister.

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