Argentine bondholder groups slammed the government over economic policies they said were undermining investor confidence in the country, which emerged from a sovereign default in September after a US$ 65 billion restructuring.
Argentina's central bank said on Thursday that it would allow a managed float of the peso currency and abandon its current uniform daily devaluation strategy as it seeks to adapt its monetary policy amid sharpening economic turmoil.
Argentina is rushing to import banknotes as its national mint struggles to keep pace with soaring central bank issuance and inflation of more than 45%. The mint is importing printed bills for the first time in five years and is also boosting its purchases of the paper used to make banknotes, according to three people with direct knowledge of the matter.
A group of Argentina’s biggest bondholders will meet with the country’s treasury minister in New York this Monday to hear how Latin America’s third-largest economy plans to dig itself out of its latest debt crisis.
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.
Argentine Central Bank President Guido Sandleris Tuesday admitted inflation remains high, but he forecast July's figures will be smaller than those of June in light of the current clear trend to the downside.
A new IMF mission is expected in Argentina this e Wednesday for the fourth review of the country's economic plan which is supported by a 36 month stand-by credit from the multilateral financial institution. It's the first IMF visit since Argentina's Central Bank major strategy change in the foreign exchange market to avoid another meltdown of the Argentine currency.
Argentina’s stubbornly high inflation accelerated again in February, the government said on Thursday, sparking the central bank chief to pledge new measures to rein in rising prices that have dogged the South American economy over the last year.
Argentina’s Peso closed stronger on Thursday, but remained outside the limits of a trading band set by the central bank after it intervened in the market by buying US$ 20 million.
China and Argentina signed a US$ 9 billion currency swap agreement to boost the South American country’s foreign currency reserves, its central bank announced on Sunday.