US President Donald Trump spoke with Argentina's leader Mauricio Macri on Wednesday and voiced support for the country's economic reforms, the White House said in a statement.
Latin American currencies ended on a high note on Friday against a weaker dollar after robust U.S. jobs data painted a brighter picture for global growth and gave the U.S. central bank more reason to stay on its dovish path.
Argentina’s embattled peso gained strength on Monday after the central bank said it would ease limits on its foreign exchange market interventions, signaling its willingness to sell reserves in an effort to better control the volatility of the local currency. The peso began the session up 3.37% and closed 3.56% stronger at 44.37 per U.S. dollar.
A national strike will halt much of shale-rich Argentina's economy on Tuesday amid growing investor concern that market-oriented president Mauricio Macri will lose a bid for re-election in October, swinging Argentina back toward state intervention.
Argentine bonds and the country’s embattled peso currency fell for a second day on Thursday, cranking up the challenge facing President Mauricio Macri as his drop in the polls ahead of knife-edge elections later this year unnerves investors.
Argentine economy Minister Nicolás Dujovne stated that political uncertainty ahead of the upcoming presidential election this October is the main factor for increases in Argentina's country risk and instability on the exchange markets.
An official with the International Monetary Fund has declared that the increase in the poverty rate in Argentina could force the government to rethink its spending plans and “protect the poor.”
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.
Argentina's President Mauricio Macri announced a freeze in the price of basic goods and public services on Wednesday in a bid to limit the impact of spiraling inflation that could hamper his re-election hopes in October. Hit by soaring prices due to inflation that reached almost 55% over the last 12 months, many Argentines have been calling for a change in economic policy.
Argentina's inflation rate accelerated for the third straight month in March, the government statistics agency said on Tuesday, prompting the central bank to unveil fresh measures to temper raging inflation and protect the embattled peso currency.