Forex run in Argentina: Macri appoints new Central bank president

Friday, June 15th 2018 - 06:56 UTC

Full article 4 comments

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. Read full article

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Enrique Massot
Opposition legislators will be requesting that Federico Sturzenegger be prohibited from travelling abroad and that an investigation on his 'erratic' measures during his tenure as head of the Central Bank of the Argentine Republic.

Of course, the measures Sturzenegger took may look unexplainable clumsy -- however, some financial institutions including the JP Morgan Chase made a lot of money in the process.

Of course, this happens as the peso, which was supposed to enter a period of stability following Argentina's deal with the IMF, appears to be in a never-ending freefall.

The arrival of Luis Caputo, who served as chief of trading for Latin America at JP Morgan between 1994 and 1998 to the BCRA, is not very reassuring.
Jun 15th, 2018 - 04:13 pm - Link - Report abuse -1
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chronic
Reeeeeeeeeeeeeeeeeeeeeeeeekie!

Yeeeeeee Haw!

Your expatriates need to get that spending under control and collect some taxes.

Tighten your belts, rg.
Jun 16th, 2018 - 02:17 pm - Link - Report abuse -1
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Enrique Massot
One day after the president of the BCRA was replaced and some 10 days after an IMF loan was announced, the US dollar continues its unstoppable race to the skies.

On Friday it closed at a record 28.85 pesos, a 13 per cent increase in six days. In January, the US dollar was worth 20 pesos.

In Argentina's dollarized economy, any dollar increase immediately reflects on prices.

So much for president Mauricio Macri and his “best team of the last 50 years.”

Meanwhile, whatever happened to the handful of MP cheerleaders who, until recently, kept repeating like a broken record that everything bad happening in Argentina was the fault of the CFK government?

The Merry Gang will soon make Cristina's tenure look like a golden, well-remembered age.
Jun 16th, 2018 - 09:47 pm - Link - Report abuse 0
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chronic
Reekie, rg is eternally doomed - left or right.

Rgs are defective.
Jun 18th, 2018 - 07:25 pm - Link - Report abuse 0
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