The International Monetary Fund confirmed Argentina’s request for technical assistance on the elaboration of a Consumer Price Index (CPI). In a statement release by Nicolas Eyzaguirre, Director of the Western Hemisphere Department added “we are currently in contact with the authorities on planning the missions”.
Argentina’s Economy minister Amado Boudou announced Tuesday that the President Cristina Fernández de Kirchner's administration is to request aid from the International Monetary Fund to help with a new price index.
Argentine Economy Minister Amado Boudou confirmed that the ministry sent a letter to the Paris Club in order to initiate negotiations and establish a course of action for the cancellation of debt, although no specific dates were mentioned.
Fissures inside the Argentine cabinet are surfacing and refer to one of the most irritating issues for the administration of President Cristina Fernandez de Kirchner: inflation or no inflation.
Argentina’s most populous province is preparing a return to international bond markets to benefit from the lowest borrowing costs in two years. Buenos Aires province hired Bank of America and Deutsche Bank AG to arrange investor meetings in Europe and the US as it plans to sell 500 million US dollars in debt.
Argentina is still opposed to having its economy reviewed by the International Monetary Fund (IMF), government ministers said on Thursday, refuting recent media reports to the contrary.
Argentina’s economic activity expanded 11.1% last June compared to the same month a year ago, anticipated President Cristina Fernandez de Kirchner during the celebration of the 126th anniversary of the Rosario Chamber of Commerce.
Argentine Economy Minister Amado Boudou confirmed what newspaper Ámbito Financiero had anticipated a week ago: the plan is to issue debt in US dollars but below the 9% mark, which with the current panorama may allow for an even lower percentage index.
Argentina is drawing on central bank profits to meet financing needs, putting off plans to sell its first international bond since 2001 as yields tumble. The central bank’s board on July 29 approved a transfer of 3 billion pesos (762 million USD) from the bank’s 23.5 billion pesos in 2009 profits to the government, following a 1.5 billion peso transfer in February, spokesman Fernando Meanos said.
The latest available information on the Argentine debt-swap reported a higher acceptance rate than was anticipated by market analysts reaching 68.3%, which is above the self imposed 60% floor by Argentine authorities. The news was released by Buenos Aires financial daily Ambito Financiero.