The Argentine government has successfully undertaken a debt swap in local pesos worth about US$ 16.813 billion, thus extending large maturities scheduled for the first quarter of the year, it was announced.
Argentina's Central Bank (BCRA) reserves went up this week after the International Monetary Fund (IMF) agreed to disburse nearly US$ 6 billion following a successful review of the South American country's third-quarter targets. Thus, the BCRA reserves went up from US$ 39.052 billion to US$ 43.263 billion in the last 24 hours.
By Andrés Velasco (*) - Argentine voters are no strangers to financial turmoil, but they keep electing politicians who run large fiscal deficits and finance them by printing pesos. Could it be that the only way for politicians to show they want to save the economy is to destroy it first?
World Bank Managing Director of Operations, Axel van Trotsenburg met with Silvina Batakis, Minister of Economy. Mr. van Trotsenburg and Minister Batakis discussed the global impacts of inflation and the war in Ukraine and Argentina’s role in helping to ease the world’s food crisis as a major agricultural producer.
The World Bank Board of Directors approved a US$200 million loan to promote sustainable growth in Argentina, driven by innovation and focused on the creation of technology-based companies, support for entrepreneurs, and access to private capital.
The International Monetary Fund (IMF) has insisted on the need to keep working together with Argentina following the resignation of Martín Guzmán as Economy Minister and the subsequent appointment of Silvina Batakis.
The International Monetary Fund (IMF) has wired US$ 3,980 million to Argentina, thus boosting the country's reserves to US$ 42,139 million, it was reported in Buenos Aires.
The United States Ambassador to Buenos Aires was full of praise for Economy Minister Martín Guzmán's handling of the recent deal between Argentina and the International Monetary Fund (IMF), saying the work he did was impressive.
As Argentina's inflation continues to grow with no end in sight and the news is that guidelines agreed upon with the International Monetary Fund (IMF) already need to be reviewed because they were based on a CPI that is no longer attainable, Economy Minister Martín Guzmán is beginning to take flak from friends and foes alike, casting doubts on his chances of remaining in office.
International Monetary Fund (IMF) Managing Director Kristalina Georgieva Wednesday said the greatest risk facing Argentina was inflation. She made those remarks during a speech at the Joint Assembly of the IMF and the World Bank in Washington, DC.