MercoPress, en Español

Montevideo, December 13th 2018 - 00:11 UTC

Tag: IMF

  • Thursday, December 6th 2018 - 08:45 UTC

    Argentine manufacturing and construction declines during October

    The manufacturing decline was led by sharp falls in the auto industry, textiles, metals, rubber and plastic production, and chemicals

    Manufacturing in Argentina fell 6.8% in October year on year, while construction declined 3.7%, and in the first ten months of this year 2.5% and 4.9% respectively according to the Indec statistics bureau report. Firms were hit hard by a contraction in economic activity and the devaluation of the Peso against the US dollar.

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  • Tuesday, November 27th 2018 - 09:27 UTC

    IMF praises Argentina's reforms program and anticipates rebound of activity in 2019

    IMF officials conducted the review in Buenos Aires from Nov. 9 to 16, and met with Economy Minister Nicolas Dujovne and Central Bank Governor Guido Sandleris

    The International Monetary Fund has completed its second review of Argentina, the fund said on Monday, paving the way for the country to receive US$7.6 billion under a US$ 56.3 billion financing deal.

  • Tuesday, November 20th 2018 - 08:43 UTC

    Venezuela preparing macroeconomic data to deliver to IMF

    The central bank of Venezuela is preparing to hand over crucial economic statistics to the IMF to meet a November 30 deadline or risk exclusion

    Venezuela which is sitting on one of the world’s largest crude oil reserves but which is suffering the worst loss of oil production in history outside of war-induced outages is getting ready to share macroeconomic data with the International Monetary Fund to avoid penalties including possible exclusion from the IMF.

  • Thursday, November 15th 2018 - 08:42 UTC

    Argentina's Senate approves austerity budget agreed with IMF

    Social movements called protests in the vicinity of the Congress

    After 13 hours of debate, the Argentine Senate approved the draft Public Administration Budget for 2019 early on Thursday. The project, presented by Mauricio Macri’s government, went ahead with 45 votes in favor, 24 against and just one abstention.

  • Saturday, October 27th 2018 - 09:38 UTC

    IMF completes review of Argentina's stand-by loan; Lagarde praises performance

    IMF Board approved an augmentation of the Stand-By Arrangement to increase access to about US$56.3 billion, or 1,277% of Argentina's quota

    The Executive Board of the International Monetary Fund (IMF) completed on Friday the first review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018.

  • Wednesday, October 17th 2018 - 08:24 UTC

    Jamaican economist will oversee Argentina's compliance of IMF accord

    Trevor Alleyne, an IMF staffer since 1992 has more than a quarter of a century's experience with the organization

    The International Monetary Fund has announced that Jamaican economist Trevor Alleyne will be the institution's representative in Argentina, after confirming it had decided to reopen an office in Buenos Aires, six years after leaving. The decision comes after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.

  • 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.