Argentina’s central bank sold US$ 261 million in reserves on Tuesday, the monetary authority said in a statement announcing its latest intervention in the foreign exchange market aimed at easing the fall of the local currency.Add your comment!
Argentina says consumer prices rose 3.9% in August, the highest rate so far this year. That brings the 12-month nationwide inflation rate to 34.4%, one of the world's highest.1 comment
Turkey ruled on Thursday that property sales, rental contracts and leasing transactions must be made in lira from now on, halting the use of foreign currencies for such deals in a fresh step to support the ailing local currency. All business deals inside the country should be conducted in lira, President Tayyip Erdogan said, adding that nobody apart from exporters and importers should cross paths with foreign currency.1 comment
Venezuelan President Nicolas Maduro is travelling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.Add your comment!
Officials from the International Monetary Fund are in Argentina as part of talks to strengthen and accelerate a crisis loan package, the global lender said Wednesday. The IMF and Buenos Aires agreed in June on a three-year, US$50 billion rescue lending programme but Argentina has since asked for a more rapid disbursement.Add your comment!
Argentina's central bank kept its key interest rate on Wednesday at 60%, one of the highest in the world, following a surprise hike two weeks ago after the peso plunged. Central bank officials said in a statement that inflation accelerated in August and continues to do so September, citing high-frequency data.2 comments
Mauricio Macri, president of Argentina, Erna Solberg, Prime Minister of Norway and Hamdi Ulukaya, founder, chairman and CEO of Chobani and founder of the Tent Partnership for Refugees, will be honored by the Atlantic Council with the Global Citizen Awards, during a ceremony on the evening of September 24 in New York, NY. All three distinguished honorees have confirmed attendance and will speak at the event.2 comments
Argentina’s peso slid further on Tuesday as investors reacted with skepticism to president Mauricio Macri’s plans. Many worry he will not be able to push reforms through a restive Congress amid growing frustration on the streets of Buenos Aires.
The Brazilian Real slumped on Monday as mounting concerns over this year's presidential election added to global risk aversion, while the Argentine peso extended a recent sell-off that also spread into stock markets in Latin America.
S&P said on Friday it may lower Argentina's long-term foreign currency rating from its current B+ grade, which is four notches below investment grade -- and on par with Turkey, Greece and Fiji. The ratings company cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic adjustment measures undertaken by Mauricio Macri’s administration.