Argentina sold US$ 60 million in the foreign exchange market on Monday, traders said, marking the start of peso-buying program approved by the International Monetary Fund and aimed at bolstering government finances.Add your comment!
An International Monetary Fund (IMF) mission led by Mr. Roberto Cardarelli visited Argentina during February 11–22, 2019 to conduct discussions on the Third Review of Argentina’s IMF-supported program under the Stand-By Arrangement (SBA). Talks continued in Washington DC after the end of the mission.
President Mauricio Macri delivered a robust defense of his austerity policy on Friday in a State of the Union address to Argentina's Congress ahead of a reelection bid in October. Macri went on the offensive in a turbulent session that featured shouts and heckling from opposition lawmakers, declaring there was no turning back on his policies.
Lawmakers in Argentina’s lower house of Congress approved on early morning Thursday an unpopular austerity budget designed to meet the stiff requirements of a US$57.1 billion International Monetary Fund bailout.
Protesters opposed to proposed austerity measures clashed with police outside Argentina's Congress on Wednesday as lawmakers discussed next year's budget. Dozens of people threw rocks while police in riot gear responded with rubber bullets and water cannons. Local television said that at least twenty-seven people have been detained but there were no confirmed reports on injuries.
Argentina's powerful teamsters union organized on Saturday a well attended march to the Cathedral of Lujan under the rallying call of ”bread, peace and work (jobs)”, which concluded with a mass, homily and strong message from Archbishop Agustin Radrlzzani, the only speaker at the event.
Argentina says that consumer prices rose 6.5% in September bringing the twelve month inflation rate to 40.5%, one of the world's highest. The inflation rate published by the official statistics agency Indec, on Wednesday follows a sharp devaluation of Argentina's currency. The nine month rate reached 32.4%.
The International Monetary Fund has announced that Jamaican economist Trevor Alleyne will be the institution's representative in Argentina, after confirming it had decided to reopen an office in Buenos Aires, six years after leaving. The decision comes after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.
Argentina's GDP will fall 2.6% and inflation will reach 40% this year, according to the International Monetary Fund's Global Perspectives Report released Monday at the beginning of the body's annual Assembly in Bali, Indonesia.
The International Monetary Fund staff and Argentina authorities have reached an agreement on a set of strengthened economic policies that will underpin the 36-month Stand-By Arrangement (SBA) approved on June 20, 2018.