IMF prepared to help Argentina stabilize exchange market volatility in election year

Saturday, March 16th 2019 - 10:15 UTC

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Argentina’s central bank wants to license market makers to help stabilize its embattled peso currency when the Treasury starts newly announced dollar sales in April. The bank hopes the market makers, dealers who agree to buy and sell at set prices, would bolster liquidity in the exchange market to help avoid the sharp gyrations the peso has suffered in recent weeks when it hit a record low of 42.5 pesos per dollar in thin trading. Read full article

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Jonaz_BsAs
Artificially propping up the peso a kin to artificially heating up your pants by pissing in them...yeah, that doesn't work. Let's talk when the real shit hits the fan sometime in 2020/2021.
Mar 16th, 2019 - 04:19 pm - Link - Report abuse 0
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Enrique Massot
I agree with Jonaz on this one.

The IMF has two goals in Argentina: One is to ensure foreign creditors continue receiving their payments. The second is to continue to prop president Macri so that he has chances to get re-elected.

Without the IMF money, Argentina would have been in default long ago. Lending more money to an inept government has the effect to tie up the hands of any future government with what this time will be, without a doubt, a “heavy inheritance.”

In the meantime, MP may want to give some coverage to a currently developing scandal that is rocking the Argentine government, the judiciary, intelligence services and mainstream written and televised media.

An extortion attempt on an agricultural producer has revealed unsuspected ties of Carlos Stornelli, the prosecutor in the famous “notebooks corruption” with a false lawyer, Marcelo D'Alessio, with evidence incriminating both men that includes chatroom messages, recorded telephone conversations and video recordings.

Take a look:

https://www.telesurenglish.net/news/Argentina-Christina-Kirchners-Prosecutor-is-Being-Prosecuted-for-Espionage-Extortion-20190316-0013.html
Mar 17th, 2019 - 01:44 am - Link - Report abuse 0
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