After a week of relative stability, the Argentine peso slid more than 2.5% percent on Friday, as an economic crisis marked by high inflation, wobbly growth and an outflow of capital began to bite again.
Arms exports to the Argentine military are set to resume, more than six years after a ban imposed in a row over the Falkland Islands. Foreign Office Minister Sir Alan Duncan said restrictions would still be imposed on exports which could enhance Argentina's military capabilities.
Argentina’s economy shrank in April for the first time in more than a year, government data showed on Tuesday, while the central bank held its policy rate stable at 40% in the first rate decision since a shakeup in its leadership.
Argentina ground to a halt on Monday as public service unions blocked road, rail and air transport with a nationwide 24-hour strike in protest at the government's latest deal with the International Monetary Fund. In a massive show of force against the conservative government of President Mauricio Macri, organizers said at least one million workers were taking part in the industrial action which halted trains, subways, buses and flights in Latin America's third-largest economy.
Argentina labor's umbrella organization CGT, has organized a strike for Monday to protest the economic reforms being implemented y the administration of president Mauricio Macri's business friendly administration.
Argentine stocks surged on Thursday after index provider MSCI upgraded the country to its emerging markets index a day earlier, a respite from months of dismal economic news for market-friendly President Mauricio Macri. The local Merval stock index closed up 6%, led by industrials and banks. Investment bank Grupo Financiero Valores led gains, rising 18.3%, while aluminum producer Aluar rose 13%.
Foreign minister Jorge Faurie reiterated before the United Nations Decolonization Committee or C24, that Argentina wishes to establish a dialogue with the UK to solve the Malvinas Islands dispute, and underlined he believed that “favorable conditions” for such a scenario have been created and are advancing.
”We have a right to live in peace, in freedom and to determine our own future”. “We have a right to live in peace, we have a right to our freedom and above all we have a right to determine our own future”, Falkland Islands elected lawmaker, MLA Ian Hansen told the United Nations decolonization committee or C24 on Wednesday, in New York.
Index provider MSCI said on Wednesday it will reclassify Argentina as an emerging market and begin including Saudi Arabia in that classification, sharply broadening the investor base for both countries in a move that could be supportive of their equity markets. The decisions will be effective beginning in mid-2019.
Argentine president Mauricio Macri appointed Finance Minister Luis Caputo as president of the central bank on Thursday, after the outgoing head of the bank resigned and acknowledged having lost credibility.