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MercoPress, en Español

Montevideo, April 23rd 2024 - 21:51 UTC

Tag: Argentine crisis

  • Saturday, April 27th 2019 - 11:30 UTC

    A week of volatility in Argentina ends with the Peso down 8.81%

    The turmoil has raised the heat on Macri after a week in which domestic media ran blanket coverage about a renewed crisis, threatening to derail his reelection plans

    Argentina’s peso fell back on Friday afternoon to post a record low close, giving up earlier gains after a tumultuous week that saw the currency battered to its weakest ever level and local debt pummeled as anxious investors fled.

  • Saturday, April 27th 2019 - 09:59 UTC

    With markets and assets falling, Argentina becomes a magnet for bargain hunters

    Some of the bargains: 16.2% on dollar bonds maturing in three years or, better yet, 17.8% on bonds due in two. At a time when benchmark U.S. Treasuries yield 2.5%

    Argentine assets have tumbled so far, so fast that a few stout-hearted investors say it might be time to buy. “Find me a high-yield sovereign country with an IMF program paying so generously,” said Jean-Dominique Butikofer, the Atlanta-based head of emerging-market fixed income at Voya Investment Management, which oversees about US$ 205 billion.

  • Thursday, April 25th 2019 - 21:48 UTC

    Economic collapse in Argentina worsens in a volatile day: Macri blames uncertainty

    On the day when the dollar reached 47.30 pesos and country risk exceeded 1,000 points, Macri said that markets “today doubted Argentina”

    Argentina lived on Thursday another day in which the dollar rebounded and the country risk exceeded 1000 points. President Mauricio Macri criticized the “short-term” view of the markets and the Central Bank (BCRA) had to intervene by positioning the interest rate at 70% and diverting the futures market to contain the demand on the currency, preventing it from reaching the maximum accorded of 51.45 pesos.

  • Tuesday, April 23rd 2019 - 09:18 UTC

    Argentina managed a quarterly primary surplus during the first quarter

    The quarterly surplus was equivalent to 0.1% of the country’s GDP, the minister said in a presentation to reporters.

    Argentina ran a primary fiscal deficit of 13.037 billion pesos (US$ 305.32 million) in March, the country’s Treasury minister Nicolás Dujovne said at a press conference on Monday, though posted a first-quarter surplus of 10.347 billion pesos.

  • Thursday, March 28th 2019 - 09:39 UTC

    Argentine Peso slides to an all time low and country risk climbs to almost 800 points

    At the end of Wednesday trading the dollar had reached 45 Pesos, a daily depreciation of 3%

    The Argentine Peso slid to all-time lows against the dollar as concerns about inflation, weak growth and October's presidential election weighed. The currency has lost 14% so far this year and the weakness raises fears of a repeat of the currency crisis of 2018 when the Peso lost half its value against the dollar.

  • Wednesday, March 27th 2019 - 08:48 UTC

    Argentine financial markets jittery over October elections uncertainty

    Bankers said the main fear was political upheaval if renewed economic crises derailed Macri's plans for reelection in October

    Investors in Argentina are starting to get the jitters. The gap in yield between local and U.S.-issued bonds has roughly doubled in the last month in the face of stubborn inflation and mounting peso outflows, heaping pressure on President Mauricio Macri ahead of elections later in the year.

  • Wednesday, October 17th 2018 - 09:16 UTC

    Argentine industrial activity contracts 4.1% in August year-to-year

    The auto industry in September was down 20.6% compared to the same month a year ago, the largest drop in twelve months

    Industrial activity in Argentina dropped 4.1% in August compared to a year ago, completing a 0.8% contraction so far this year, according to a survey by the country's Industrial Union, UIA. However compared to last July industrial production was up 0.7%.

  • Saturday, September 1st 2018 - 09:27 UTC

    S&P places Argentina credit ratings under review

    S&P cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic measures undertaken by Macri’s administration

    S&P said on Friday it may lower Argentina's long-term foreign currency rating from its current B+ grade, which is four notches below investment grade -- and on par with Turkey, Greece and Fiji. The ratings company cited the risk of worsening creditworthiness and exchange rate volatility as potential threats to the economic adjustment measures undertaken by Mauricio Macri’s administration.

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