Tag: Argentina Central Bank

• Friday, October 3rd 2014 - 06:20 UTC

  The Argentine economy: “Thumbs down” writes The Economist

  

  Those baffled by the Argentine economy could do worse than listen to Puff Daddy. Ask what ails the country and the answer will echo the rapper’s ode to the 100-dollar bill, “It’s all about the Benjamins”.

• Thursday, September 11th 2014 - 04:30 UTC

  Despite all the negative economic data, Argentina's stock market has almost doubled this year

  

  Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

• Tuesday, January 21st 2014 - 15:43 UTC

  Argentina in France trying to work out a debt deal with the Paris Club

  

  Desperately credit-short Argentina outlined on Monday its conditions for repaying some 9.5 billion dollars in debt to the Paris Club, a senior official at the group of creditor nations said, as the government of President Cristina Fernandez seeks to revive long-stalled talks. Argentina's international reserves have fallen to its lowest level since 2006.

• Saturday, January 18th 2014 - 06:39 UTC

  US dollar approaching the 12 Pesos mark in Argentina

  

  The US dollar in Argentina reached a new record on Friday at the end of nerve racking week which saw the greenback in the parallel market climb another 40 cents and close at 11.90 and 11.95 Pesos purchase and sale prices. During the week the US dollar soared 1.15 Pesos, and closed the week with a gap of 75.6% between the official dollar exchange and the 'blue' dollar.

• Thursday, January 16th 2014 - 09:34 UTC

  Argentine central bank reserves fall below the 30bn dollars threshold

  

  Argentine central bank international reserves continued to erode and on Wednesday pierced through the 30bn floor threshold reaching 29.858bn dollars, the lowest level since November 2006. On Tuesday reserves stood at 30.019bn.

• Saturday, October 26th 2013 - 15:54 UTC

  Argentina appeals New York Judge Griesa's order regarding banks' disclosures

  

  The Argentine government yesterday appealed an order by US Judge Thomas Griesa who asked some private banks to turn over information about Argentina’s assets abroad. The case had been started by hedge fund Elliott Management Corp’s NML Capital Ltd which is demanding in court full 100% payment of Argentine sovereign bonds face value.

• Wednesday, October 23rd 2013 - 01:36 UTC

  US dollar in Argentina reached 10 Pesos ahead of Sunday's mid-term election

  

  The US dollar in Buenos Aires reached on Tuesday 10 Argentine Pesos (buying price) and 10.05 pesos (selling price) in the informal market, 15 cents higher compared to its last closing price, pushed by the tourist sector, and as the government crackdown on the so called city “exchange caves” eased up.

• Wednesday, July 10th 2013 - 17:32 UTC

  “Evita” 100-Peso bill are legal tender and must be accepted, warns Argentine central bank

  

  Argentina's central bank has warned businesses to stop rejecting commemorative bank notes bearing the image of Eva Peron to mark the 60th anniversary of the iconic former first lady's death. President Cristina Fernandez, whose fiery speaking style often prompts comparisons with that of “Evita” unveiled the 100-peso bills emblazoned with her profile a year ago.

• Tuesday, June 25th 2013 - 05:57 UTC

  Argentine central bank has lost 17% of reserves since the ‘dollar clamp’

  

  Argentine central bank international reserves dropped 17% since the government of President Cristina Fernandez imposed the ‘dollar clamp`, first limiting operations in the US currency and later savings in greenbacks. While this happened in Argentina in other regional central banks, international reserves kept climbing, according to a report from consultants Economia&Regiones (E&R).

• Wednesday, May 8th 2013 - 09:51 UTC

  Argentina offers tax amnesty for undeclared dollars and assets in the country and overseas

  

  The administration of President Cristina Fernandez announced the drafting of a bill intended to establish a recovery plan for undeclared assets within the country and abroad in order to strengthen the level of foreign reserves of the Central Bank. The government estimates Argentines hold 160bn dollars outside the financial system in the country and overseas.