Tag: economic crisis

• Tuesday, October 23rd 2018 - 08:53 UTC

  Argentina's primary deficit falls to 1.1% of GDP, the lowest since 2012

  

  Argentina's primary deficit fell to 1.1% of Gross Domestic Product (GDP) between January and September this year, compared to 2.1% over the same period in 2017, the Finance Ministry announced on Monday.

• Wednesday, October 17th 2018 - 09:16 UTC

  Argentine industrial activity contracts 4.1% in August year-to-year

  

  Industrial activity in Argentina dropped 4.1% in August compared to a year ago, completing a 0.8% contraction so far this year, according to a survey by the country's Industrial Union, UIA. However compared to last July industrial production was up 0.7%.

• Thursday, October 11th 2018 - 08:44 UTC

  Argentina attracting more tourists while less Argentines travelling overseas

  

  The number of incoming tourists to Argentina is increasing month after month since the drastic devaluation of the local currency, while outgoing tourism has dropped significantly. According to the latest release from the country's stats office, Indec, 224.000 tourists arrived in Argentina during August, 7.4% more than a year ago, while residents travelling overseas dropped 11.9%, to 335.300.

• Friday, October 5th 2018 - 09:03 UTC

  Industrial activity in Argentina down 5.6% in August and 0.8% in last 12 months

  

  August data for industry was only a slightly better figure than the previous month – in July, a decline of minus 5.7% was witnessed. In June, the sharpest, most pronounced fall of the year was witnessed: 8.1%, year-on-year.

• Friday, October 5th 2018 - 08:36 UTC

  Argentine Peso slips on Thursday on prospects of higher US interest rates

  

  Argentina’s Peso fell on Thursday, pressured by the recession-hit country’s dismal inflation outlook and higher U.S. interest rates that have pushed capital away from riskier emerging markets and toward the greenback, local traders said. The peso shed 1.85% to close at 38.4 per dollar after having gained 9.58% over the previous three days under a freshly-renegotiated International Monetary Fund financing deal that calls for tougher fiscal and monetary policy measures.

• Monday, October 1st 2018 - 08:56 UTC

  Beijing currency swap support for Argentina

  

  Argentina has “nearly closed” a new currency swap deal with China that will add the equivalent of US$ 9 billion to the South American country’s reserves, the central bank said on Sunday. Argentina and China first agreed to a swap program in 2009 to boost the South American country’s dwindling reserves under former President Cristina Fernandez. Last year, the center-right government of President Mauricio Macri and China agreed to extend the program for three more years.

• Monday, September 24th 2018 - 09:19 UTC

  Macri in New York to convince investors Argentina in on track to stability and address the UN assembly

  

  Argentine president Mauricio Macri is in New York where he is scheduled to address the United Nations General Assembly on Tuesday, but will also be holding a round of talks with business leaders and potential investors, plus granting interviews to key media outlets.

• Monday, September 24th 2018 - 08:16 UTC

  Almost two million Argentines out of a job in the second quarter of 2018

  

  Almost two million Argentines are without a job, more precisely 1,999,387 according to the latest unemployment report from the county's stats office, Indec. In effect unemployment rose in the second quarter to 9.6%, from 8.7% a year ago, making it the highest figure in twelve years.

• Saturday, September 22nd 2018 - 08:53 UTC

  Argentine Peso strengthened for the third straight day on Friday

  

  Argentina’s peso strengthened for the third straight day on Friday, driven by optimism that the government would sign a revised financing deal with the International Monetary Fund to include stricter fiscal measures and faster cash disbursements.

• Friday, September 21st 2018 - 08:47 UTC

  Argentine Peso at an equilibrium point, says head of Central bank

  

  Argentina’s central bank now sees the Peso at an equilibrium level, chief Luis Caputo told market participants who attended a meeting with him on Thursday. The statement comes after two days of strengthening by the peso following a rout that sent it to a record intra-day low in late August.