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International banks commit 8bn dollars to the new Argentine administration

Friday, December 11th 2015 - 11:54 UTC
Full article 42 comments

The incoming government of Argentine president Mauricio Macri is about to receive its first financial boost from overseas, which according La Nacion sources could be in the range of 8 billion dollars. Read full article

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  • chronic

    Remember when four peso would buy a dollar?

    Dec 11th, 2015 - 12:27 pm - Link - Report abuse 0
  • Brasileiro

    @1
    Do not be silly, Saxon. The appreciation of currencies against the dollar favors only the Yankees.

    With the Federal Reserve increased interest of the Saxons and their companies will die drowned in a pool full of dollars hyper valued and without purchasing power.

    Dec 11th, 2015 - 01:41 pm - Link - Report abuse 0
  • Skip

    How is it that this Brasileiro inherited the login when all the others decided to get real jobs...... hmmm I think we have an answer.

    Dec 11th, 2015 - 01:49 pm - Link - Report abuse 0
  • Vestige

    Macris intent on fixing the currency issues. Regardless of how its done it will be resolved, and relatively soon. Bringing a stronger Arg.

    Dec 11th, 2015 - 02:03 pm - Link - Report abuse 0
  • ElaineB

    And the money starts rolling in. What a difference an attitude makes.

    Dec 11th, 2015 - 02:05 pm - Link - Report abuse 0
  • yankeeboy

    Its a good start, the farmers pledged U$3B in sales and China another U$2B in swap.
    That may get them out of the immediate cash crunch they have in 1-2Q2016.
    It may not.
    We should know soon though...

    Dec 11th, 2015 - 03:27 pm - Link - Report abuse 0
  • Klingon

    Axel has been doing everything he can to throw the economy under the bus.
    Bordering on criminally punishable, so I hope they toss him in jail for ruining our country.

    Dec 11th, 2015 - 05:25 pm - Link - Report abuse 0
  • Brasileiro

    The only thing that has to be done is to prohibit the dollar and make trade agreements in local currency. That's what we expect from Argentina to solve their problems.

    Anyone who wants to buy something from USA or do tour there to immigrate once and for all!

    Dec 11th, 2015 - 08:18 pm - Link - Report abuse 0
  • Briton

    If Argentina gets 16 billion in total,
    he should give the islanders at least 12 billion compensation for all the hurt it has piled on them.

    the other 4 billion should go to the families of those who fought their.

    but no doubt it will all disappear in charges.

    Dec 11th, 2015 - 08:22 pm - Link - Report abuse 0
  • dsullivanboston

    The new president is saying all the right things, and making the right moves so far. He has added 5X the brain cells working in the Central bank with one change. Problem is Christina dug such a big hole it will be interesting to see if they can crawl out and thrive. Also I am waiting to hear they fired all trolls so Stink/brazhole, etc will all have to get real jobs.

    Dec 11th, 2015 - 09:27 pm - Link - Report abuse 0
  • Zaphod102

    The clean up process has started:

    - Agreement with Iran ended
    - Boudou cannot leave Argentina

    So Boudou in the doodoo?

    Who next?

    Dec 11th, 2015 - 09:36 pm - Link - Report abuse 0
  • chronic

    At what cost will this tranche be offered?

    Dec 11th, 2015 - 11:17 pm - Link - Report abuse 0
  • Marti Llazo

    @1 “Remember when four peso would buy a dollar?”

    I remember when a dollar would buy one peso.

    Also remember when the “peso ley” rate was about 700 to the dollar, and the small bills had William Brown on them. And the Argentine government proudly celebrated their murderous “Genocide of the Desert” centennial on some of the other bills.

    The currency was overvalued then, too.

    Dec 12th, 2015 - 12:04 am - Link - Report abuse 0
  • Think

    (13) Non-spanish speaking, at least 125 years old Anglo Expat turnip in Chile says....
    “...Also remember when the “peso ley” rate was about 700 to the dollar, and the small bills had William Brown on them.”

    I say...:
    Does he remember the small 1 Peso bills with Admiral William Brown on them................................ from 1890...?!?!
    That must be a very ooooooold anglo Turnip indeed...

    Dec 12th, 2015 - 11:19 am - Link - Report abuse 0
  • Marti Llazo

    @14 ... sorry... meant to say peso COINS with William Brown, during the 1970s. Thinking coins, writing bills. Mea culpa maxima.

    Dec 12th, 2015 - 01:28 pm - Link - Report abuse 0
  • Think

    (15) That makes you a non Spanish speaking, confused Anglo Expat Turnip in Chile then...

    Dec 12th, 2015 - 04:44 pm - Link - Report abuse 0
  • Troy Tempest

    Think can find no way to remark with any relevance to this story, and has now resigned himself to snide nitpicking of others posts.

    Marti conceded in a very gracious manner, that he had made a small error.

    Think still mutters snide remarks.

    Sorry Think, Argentina runs counter to your ideology - there is nothing you can do about it. You are irrelevant.

    Dec 12th, 2015 - 05:49 pm - Link - Report abuse 0
  • Think

    (15) That makes you a non Spanish speaking, confused Anglo Expat Turnip in Chile that disrespects the memory of a recently deceased non Spanish speaking, bright and friendly Anglo Expat Turnip in Chile, that is...

    Dec 12th, 2015 - 06:33 pm - Link - Report abuse 0
  • Marti Llazo

    @ 18 ¿Qué querés que te diga? Vine a la Argentina durante la Guerra Sucia. ¿ Y vos, camporista inútil e hijo de mil putas?

    Dec 12th, 2015 - 07:05 pm - Link - Report abuse 0
  • Think

    Anglo Turnip at (19)
    Uhhhhhhhhhh........Insults...
    Anybody can cut an paste a phrase like that from any place in Internet...

    Convince me by, for example translating the following into good Spanish...:
    “Also remember when the “peso ley” rate was about 700 to the dollar, and the small bills had William Brown on them. And the Argentine government proudly celebrated their murderous “Genocide of the Desert” centennial on some of the other bills. ”

    Besides... it is...: ”Socialista (Olof Palme's School) inútil e hijo de tu nunca bien ponderada madre” for you..., Turnip...

    Dec 12th, 2015 - 08:47 pm - Link - Report abuse 0
  • Marti Llazo

    Tink, no valdría la pena traducir ni una sola sílaba para vos, a “buen castellano” o a gatuno, porque todos saben que ustedes no hablan español sino argentinensis, el peor de los dialectos.

    Y sí recuerdo un tiempo en que 700 pesos los cambiábamos por un dólar. Y cuando los dinosaurios andaban sobre la Tierra.

    Dec 12th, 2015 - 09:40 pm - Link - Report abuse 0
  • Think

    (21) I stand corrected...
    Evidence seems to show that you are a Spanish speaking, confused Anglo Expat Turnip in Chile that disrespects the memory of a recently deceased non Spanish speaking, bright and friendly Anglo Expat in Chile...

    Dec 12th, 2015 - 09:55 pm - Link - Report abuse 0
  • Skip

    Yawn. Boring.

    Dec 12th, 2015 - 10:13 pm - Link - Report abuse 0
  • Troy Tempest

    ...and Think is a boring ex-pat without a cause.

    Dec 13th, 2015 - 01:41 am - Link - Report abuse 0
  • Skip

    Think rarely addresses the article subject these days.

    Just runs around the board like some crotchety old aunt nit-picking.

    Hardly befitting, but alas a sad reality.

    Dec 13th, 2015 - 05:28 am - Link - Report abuse 0
  • Troy Tempest

    When it comes to Argentina, now he can't pretend to be anything but on the outside looking in.

    He doesn't even have a horse in the race.

    Dec 13th, 2015 - 07:36 am - Link - Report abuse 0
  • Skip

    Aaah so that is what forsaken looks like.

    LOL

    Dec 13th, 2015 - 08:35 am - Link - Report abuse 0
  • Brasileiro

    These Chileans betrays his own mother! Or Chile blocks the pirates, or we will consider Chile as our enemy.

    We're not here to play! Our America is reunited here to expel the invading pirate and block 5 Eyes.

    https://www.youtube.com/watch?v=-yl9OsbGmKg&index=199&list=FLmXPTu1f8AdGlizWNiASx2A

    Dec 13th, 2015 - 01:48 pm - Link - Report abuse 0
  • Marti Llazo

    Brasshole... there is medication available in the US province where you live, that can be used to treat your malady.

    Dec 13th, 2015 - 03:16 pm - Link - Report abuse 0
  • Enrique Massot

    Contracting massive foreign debts while reducing to a minimum the capacity of the state to collect taxes, levies and tariffs was the mark of authoritarian rightist governments in Argentina in the past.
    A return to such practices by the democratically elected Macri government could be dawning with the announced borrowing coupled with an announced reduction to export levies.
    That's how you transfer wealth to the private sector while starving the state of resources used for the common good.
    Starve the state, then borrow.

    Dec 13th, 2015 - 05:01 pm - Link - Report abuse 0
  • Think

    (30) Sr. Massot

    I, of course, concord with you... theoretically...
    Lets hope that these recicled “ Golden Old Boys” from the Nineties have learned some lessons from their last time...
    If not..., lets hope that the oposition majority in the Senate and Congress teach them...
    Interesting times ahead...
    Saludos

    Dec 13th, 2015 - 05:56 pm - Link - Report abuse 0
  • Marti Llazo

    @30 The amount of debt contracted by the military government that ended in 1983 and defaulted in 2001-2002 was tiny, compared to the immensely greater debt resulting from the Peronist governments that followed. Not even the subsequent governments had the audacity to attempt to label the military government period debt as odious.

    And when speaking of “starving the state” of funds, the most spectacular practitioner of this was of course.... Cristina. Since Kirchnerismo drained the government of money, there appears to be no other recourse than to resort to borrowing.

    Dec 13th, 2015 - 06:29 pm - Link - Report abuse 0
  • Skip

    “Contracting massive foreign debts while reducing to a minimum the capacity of the state to collect taxes, levies and tariffs was the mark of authoritarian rightist governments in Argentina in the past.
    A return to such practices by the democratically elected Macri government could be dawning with the announced borrowing coupled with an announced reduction to export levies.”

    Really!

    You've got all that from less than a week in power?

    Wow such a pessimist for your country. It's a wonder you can survive Canada's economy which conforms more to Macri's first decisions than CFK's final decisions.

    He wouldn't need to borrow if CFK had not literally emptied the coffers.

    Where is your denunciation of the low reserves?
    Where is your denunciation of the constant budget deficits?

    As for taxes.... well I look forward to you agreeing that the income tax and GST you currently pay in Canada are too low and should be doubled. It seems that striking the right balance doesn't enter your lexicon when it comes to taxes.

    Dec 13th, 2015 - 08:24 pm - Link - Report abuse 0
  • yankeeboy

    When they open up the BCRA books they're going to find +/- U$300,000,000,000 in Debt.
    They're also going to find they've not had near as much GDP growth over the last decade as they've reported.
    That with the devaluation and they may be over 100% of GDP in outstanding debt.

    Dec 14th, 2015 - 08:33 pm - Link - Report abuse 0
  • Troy Tempest

    Isn't it always the way, when a long term adversary is finally vanquished, the other opponent no longer has a reason for being?

    Critics of the Argentine CFK government no longer have a cause.

    CFK is gone, Argentina no longer has a hostile government, Macri and his educated Banker, are forging ties in the right direction, and initiating responsible policies.

    The likes of Thinkvoice, Vestige and Enrique can no longer hide behind Argentine patriotism - nobody is challenging Argentina's government, or Argentine self determination except the K's and K supporters like Mad Dog Maduro.

    It is therefore interesting to hear predictions of doom from both sides, and Enrique and Think are both heartily blaming Argentina's social inequalities and financial woes on Macri, after a week in power.
    In spite of CFK cleaning out the Federal Reserves and bringing the country to the brink of financial collapse after 12 years of rule, Think, Enrique, and Axel are all K-boosters!

    Dec 14th, 2015 - 10:12 pm - Link - Report abuse 0
  • Marti Llazo

    @35 .....Much as we might wish to believe that CFK is “gone” that is only true in a limited sense: she is no longer the openly elected president. But rubber-faced Peronist mare-queens in Argentina don't really fade away. The legislature is convincingly controlled by Justicialistas, if not card-carrying Kirchneristas, and a substantial part of the judiciary is similarly aligned. And then there are the legions of Peronist labour organisations and the choripanero populacho who think it the very apex of bliss to burn old tyres and duke it out with the gendarmería when insufficient privileges are not awarded them at the hour and minute that they expect. Nay, Macri's challenges are enormous; his enemies many; his resources, few.

    Dec 15th, 2015 - 01:09 am - Link - Report abuse 0
  • Troy Tempest

    36
    True, Macri's battle is not won, and CFK has retreated to her lair to regroup.

    However, she is on the ousted now.

    It is like end of the Cold War.

    There is no Socialist Argentine government to fight for YB and some others. Perhaps the real cause for them is something else.

    Thinkvoice and NOSTRILS and Vestige can no longer pretend to defend the honour of Argentina and Argentinians. The people have spoken and the legitimate government is opposed to everything the K's stood for, and the Trolls defended.

    The battle is not over for Macri - it is still between him and Peronism.

    Thinkvoice has only Peronism to defend now - NOT Argentina, it's not theirs anymore.

    The Falklands are safe as they can be for now, unless Macri fails in his battle.

    Dec 15th, 2015 - 04:01 am - Link - Report abuse 0
  • yankeeboy

    Troy, The ingrained corruption is still there, the 10s of thousands of K supporters are still working for the Gov't, the unions still have massive control over large parts of the society. You are either ignoring this or so full of hope and change that you're turing a blind eye to reality.
    I think everyone here is wishing Macri well, he's been on the job for 4 days he's got a long way to go and is fighting an uphill battle in a hurricane.
    I've long said that what ailes Argentina can't be fixed in one or even two Prez terms. They have generational societal problems that need to be addressed through education and re-training their psyche, they need to chage their very core of existance if they want to succeed. Use Reekie, or Axel as an example, you know they truely want Macri to fail and there's 1/2 the country that wants the same outcome.

    Dec 15th, 2015 - 01:44 pm - Link - Report abuse 0
  • Enrique Massot

    #38 YB
    “...you know they truely want Macri to fail and there's 1/2 the country that wants the same outcome.”
    It's not a matter of “wanting Macri to fail.”
    If Macri had goals for the country's benefit while keeping open dialogue with both sympathizers and “the other 1/2 of the population,” I'd be the first to be happily surprised.
    This is not happening. An agenda to retake what has been redistributed to the less fortunate is now under development. The new team wants to oust the Attorney General without respecting its term. Macri has resorted to appoint two judges of the Supreme Court by decree, which never happened in democracy.
    The ones who are already criticizing the first moves of the new government are those who know Macri's agenda--half of the country's population.
    The other half will have time to cry when the effects of the new policies reach them.

    Dec 17th, 2015 - 01:57 am - Link - Report abuse 0
  • Marti Llazo

    @39 “... to retake what has been redistributed to the less fortunate...”

    It is hard to be sympathetic to a Kirchnerist redistribution regime that offers (offered) the worst of populism, supporting the most extensive herds of parasitic ñoquis probably ever seen (oh, but such non-workers are the “less fortunate”?) . Kirchnerism in its last four years provided not the betterment of the nonproducers but instead steadily increasing levels of poverty and indigence, which of course it failed to acknowledge. Kirchnerism provided a culture in which no-one was safe on the streets, where the “less fortunate” robbed with near impunity and were provided a quick catch-and-release ticket if apprehended, giving Argentina the highest robbery rates in the entire Western Hemisphere at just about double the average for all of Letrine America. An Argentina where about half of the adolescents don't graduate from secondary school. And why should they, when redistributionism will fill their larders and pay their utilities without the need to actually become productive and contributing citizens? Such are the fruits of your policies of Kirchnerist redistributionism.

    Dec 17th, 2015 - 03:31 am - Link - Report abuse 0
  • Troy Tempest

    @39 Enrique

    “An agenda to retake what has been redistributed to the less fortunate is now under development.”

    “The ones who are already criticizing the first moves of the new government are those who know Macri's agenda--half of the country's population.”

    From Canada, reading your statements,

    - this sounds like continued speculation and scare-mongering - from YOU, a minority of the Electorate, and the K's.

    Please elaborate, Enrique.

    What exactly are you referring to?

    How do you know this?

    Dec 17th, 2015 - 07:49 am - Link - Report abuse 0
  • yankeeboy

    Why doesn't Reekie ( or Elaine for that matter) understand that with the massive theft and redistribution to the poor masses over the last decade its actually created more poor? So much more the Kthugs had to stop publishing the statistics?

    When the dust settles you'll see that there are just as many or more poor than in 2001.
    Argentina moved to 4th or 5th place in GDP of Latam rankings today and that's not even counting the gross yoy GDP figures they've been putting out.

    Progs never seem to understand their policies are destructive. I have no idea how they can't look to Venezuela, Argentina or Brazil and say good gracious what have I done?

    Dec 17th, 2015 - 06:09 pm - Link - Report abuse 0

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