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MercoPress, en Español

Montevideo, May 2nd 2024 - 10:09 UTC

Tag: Mauricio Macri

  • Monday, May 14th 2018 - 08:20 UTC

    The Economist: Will Argentina's woes spread?

    Argentina’s rate of inflation, which exceeds 25%, seems to belong to a lost world. Only in Egypt, Nigeria and Turkey is inflation even in double digits.

    Argentina has much in common with yesterday's emerging markets, but little in common with today's

  • Saturday, May 12th 2018 - 07:50 UTC

    Macri enlists further financial and political support, but Peso continued to slide

    Earlier on Friday, the peso fell to a record intra-day low of 24.50 per dollar as investors moved into dollar-denominated assets.

    Argentina’s central bank sold US$1.1 billion in the foreign exchange market on Friday and the peso weakened 2.74% to an all-time closing low of 23.35 per U.S. dollar despite talks aimed at securing an International Monetary Fund financing deal.

  • Friday, May 11th 2018 - 06:29 UTC

    Argentine stock market climbs 6% and the exchange market operates cautiously

    Finance Minister Luis Caputo said the IMF deal would guarantee financing through the end of President Macri's first term in December 2019

    Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF.

  • Friday, May 11th 2018 - 05:39 UTC

    IMF and White House support Macri's economic reform program

    “I stressed my strong support for Argentina's reforms to date, and expressed the Fund's readiness to continue to assist the government,” Lagarde said

    International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

  • Thursday, May 10th 2018 - 08:20 UTC

    Argentine congress passed capital market reform bill; Merval up 6%

    Argentina's benchmark Merval stock index reacted strongly and was up nearly 6% on Wednesday afternoon.

    The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers.

  • Wednesday, May 9th 2018 - 07:32 UTC

    Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

    “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Macri said in a televised address

    Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.

  • Tuesday, May 8th 2018 - 06:57 UTC

    Argentine Peso: the worst of the storm seems to be over...for the time being

    “The Peso may strengthen or weaken ... the idea is that there be little volatility,” Treasury Minister Nicolas Dujovne said on local television on Sunday night

    The Argentine Peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. . The local currency opened stronger on Monday but closed down 0.41%, at 21.97 per U.S. dollar. The Merval stock index ended down 3.43% and traders said investors remained cautious.

  • Monday, May 7th 2018 - 09:28 UTC

    Argentina's storm: “Macri is not a political leader, he's a businessman”

    Mirtha Legrand and Jorge Lanata sharing the night program

    “President Macri is not a political leader, he's a businessman, that's why he doesn't like to come out on national television; he should come closer to the people, he should be more political and less technical”. The comment belongs to Jorge Lanata probably the most outstanding investigative reporter in Argentina, and who heads the hate list of ex president Cristina Fernandez.

  • Friday, May 4th 2018 - 09:00 UTC

    Argentine Peso tumbles 7.83% to US dollar; central bank raises rate to 33.25%

    The Peso tumbled 7.83% to 23 per U.S. dollar. It had hit 21.2 (23,5 in some banks) to the greenback on Wednesday. The central bank hiked the rate to 30.25% from 27.25% on Friday.

    Argentina’s central bank raised its benchmark interest rate by 300 basis points to 33.25% percent on Thursday, but the second steep rate increase in less than a week failed to stop the country’s peso currency from swooning to a record low. The local currency tumbled 7.83% to 23 per U.S. dollar. It had hit 21.2 to the greenback on Wednesday, the first trading day due to a holiday after the bank hiked the rate to 30.25% from 27.25% on Friday.

  • Thursday, May 3rd 2018 - 08:39 UTC

    Lack of investor confidence sees the Argentine Peso fall 3.11% against the dollar

    The central bank sold about US$ 400 million in the foreign exchange market as of early Wednesday afternoon, traders said

    Argentina’s peso currency closed down 3.11% on Wednesday at an all-time low of 21.2 per U.S. dollar, even as the central bank continued selling dollars to try to halt the slide of the local currency, traders said. The currency’s sustained weakening showed a lack of investor confidence in Latin America’s third largest economy, which is blighted by one of the world’s highest inflation rates.