Tag: Argentina

• Saturday, August 17th 2019 - 08:53 UTC

  Fitch downgrades Argentina's long term debt, fearing the risk of default

  

  Argentina's Peso ended a tumultuous week on Friday having shed 20% in its value against the dollar as Fitch cut the South American country's long-term debt by two notches, citing increased uncertainty and a rising risk of default.

• Friday, August 16th 2019 - 07:53 UTC

  Dollar volatility in Argentina eases in line with political dialogue

  

  Argentine markets bucked the dismal three-day losing streak on Thursday, amid signs of political compromise and a new central bank measure to prop up the embattled currency.

• Friday, August 16th 2019 - 07:35 UTC

  Argentina: Macri announces the end of sales taxes on basic food products until 2020

  

  Argentine President Mauricio Macri, trying to recover from a bruising primary election loss, announced on Thursday an end to sales taxes on basic food products until the end of the year in a bid to salvage his re-election prospects and end an economic crisis.

• Friday, August 16th 2019 - 07:21 UTC

  “If Cristina Kirchner gets in and closes the economy,” Brazil will leave Mercosur

  

  Brazil will pull out of the Mercosur trade bloc if the opposition party wins Argentina’s presidential elections later this year and closes the economy with protectionist policies, Brazil’s Economy Minister Paulo Guedes said on Thursday.

• Thursday, August 15th 2019 - 06:15 UTC

  Mar del Plata fisheries landings totaled 210.000 tons in seven months

  

  In seven months of the current year, landings in the Argentine port of Mar del Plata reached 210.000 tons, which is 3.3% more than the same period a year ago, according to local fisheries authorities. Hake, apparently, helped with the positive difference since squid landings were notoriously lower.

• Thursday, August 15th 2019 - 05:53 UTC

  Macri finally called Fernandez and had a “long and good” phone call, hopefully to help stabilize the economy

  

  Argentine President Mauricio Macri finally, on Wednesday, reached out to the winner of Sunday’s primary vote -- initially through a Whatsapp message. The message led to a “long and good” phone call between the two, the first since Alberto Fernandez’s resounding victory turned him into the clear favorite to win the Oct. 27 election.

• Thursday, August 15th 2019 - 05:30 UTC

  Macri announces measures to cut taxes and prop consumption hopefully to brighten Argentine pockets

  

  Argentine President Mauricio Macri on Wednesday unveiled a package of welfare subsidies and tax cuts for lower-income workers to lessen the impact of an economic crisis just months before a re-election bid, but his announcement did not halt the peso currency's collapse.

• Thursday, August 15th 2019 - 05:20 UTC

  Bolsonaro insists Argentina is heading for “Venezuelan chaos” with the “leftist bandits”

  

  Brazilian President Jair Bolsonaro said on Wednesday that Argentina was heading for chaos as “leftist bandits” who performed well in the primary election will follow the path of Venezuela, which is mired in a deep economic crisis. Argentina's Merval stock index was down 34.47% since the start of the week.

• Wednesday, August 14th 2019 - 09:08 UTC

  What will be the IMF's reaction to the new Argentine political scenario?

  

  Argentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in party primaries.

• Wednesday, August 14th 2019 - 08:22 UTC

  Alberto Fernández is no stranger to Argentine politics

  

  Presidential candidate Alberto Fernández pulled off a resounding victory in Argentina’s primary elections last Sunday when he received 47% of the vote. Argentine President Mauricio Macri, a conservative leader known for tough austerity measures, received just 33% of the vote.