MercoPress, en Español

Montevideo, October 17th 2018 - 06:06 UTC

Tag: IMF

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

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

    The slump underlines the economic woes facing the Macri administration, which has witnessed a sharp currency devaluation and soaring inflation in recent 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

    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 IMF deal

    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.

  • Tuesday, October 2nd 2018 - 08:21 UTC

    Argentine Peso rises 4% after central bank sells seven-day notes paying 72%

    The Argentine central bank sold about 71.1 billion pesos worth of seven-day “Leliq” notes, above market expectations, and at an interest rate of 72%.

    The he Argentine peso climbed more than 4% on Monday trading on the back of a debt sale by the central bank aimed at mopping up excess liquidity and signs that the International Monetary Fund (IMF) is solidly behind the administration of president Mauricio Macri.

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

    Beijing currency swap support for Argentina

    “A US$ 9 billion expansion of the ‘swap’ with China is practically closed,” Guido Sandleris was quoted saying in an interview with La Nacion published on Sunday

    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.

  • Friday, September 28th 2018 - 08:58 UTC

    Brazilian currency strengthens below 4 to the dollar: first time in five weeks

    The Real closed at 3.99 to the US dollar just two weeks after hitting a record low of almost 4.2 to the dollar -- it's lost around 17% since the start of the year

    The Brazilian currency dipped under four Real to the dollar for the first time in five weeks at close on Thursday as the markets reacted favorably to the emergence of two clear presidential election frontrunners. The Real closed at 3.99 to the US dollar just two weeks after hitting a record low of almost 4.2 to the dollar -- it's lost around 17% since the start of the year.

  • Thursday, September 27th 2018 - 09:19 UTC

    Argentine Peso with trading band and zero growth monetary supply policy

    Subject to IMF board approval, financing would no longer be discretionary, but would be readily available to the government for budget support, said Lagarde

    The International Monetary Fund Managing Director Christine Lagarde, speaking at a news conference in New York alongside Argentine Economy Minister Nicolas Dujovne, said IMF was “significantly frontloading” disbursements under the program adding the Argentine central bank had agreed as part of the deal to allow the peso currency to float freely and would only intervene in the foreign exchange market in extreme circumstances.

  • Tuesday, September 25th 2018 - 21:35 UTC

    Who is Guido Sandleris, Argentina's Central Bank president after the surprise resignation of Caputo

    Guido Sandleris, a figure close to Nicolás Dujovne, was until now the Secretary of Economic Policy of the Ministry of Finance

    The resignation of Luis Caputo to the Presidency of the Central Bank of Argentina (BCRA), which has been reflected with surprise by the international media, occurs amid the trip of the Argentine President, Mauricio Macri, to New York to attend the Assembly General of the UN and with the mission of restoring the confidence of the international market in the Argentine economy. His predecessor, Guido Sandleris, receives a Central Bank when it is about to close an agreement with the International Monetary Fund (IMF).

  • 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

    Macri will “present the reality of the economic and financial situation,” address queries over “negotiations with the IMF and rekindle the interest of the investors.”

    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.

  • Friday, September 21st 2018 - 09:32 UTC

    Argentine Peso recovers strongly and with no support from the Central bank

    The US dollar weakened to as low as 37.60 Pesos before stabilizing below 39 Pesos

    The Argentine Peso reacted strongly against the US dollar on Thursday following on an abundant private supply of greenbacks to satisfy demand, which kept the Central Bank out of the market for the first time since the beginning of the month. The dollar fell 2.8% and ended trading below 39 Pesos.

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

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

    Caputo also hinted that a revised deal with the IMF will continue to calm the markets and add clarity on fiscal, monetary and exchange market fronts

    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.

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