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.
International travelers are flocking to Argentina, taking advantage of the poorly performing peso to boost the value of their holiday spending money, according to latest data.
With sustained economic growth, Argentina would be able to avoid another debt crisis. Although there are no silver bullets to put the economy on a more stable path, changing current macroeconomic policies would at least give the country a chance.
Argentina’s economy contracted 2.5% in 2018, the official statistics agency said on Thursday, as the Latin American country’s leaders struggle to revive growth after being rattled by a currency crisis and steep inflation over the past year.
Argentina's Consumer Price Index, CPI, increased 5.4% in October, and 39.5% in the last ten months, and 45.9% in twelve months, according to the latest report from the country's stats office, Indec. The items with the highest were Housing, 8.8%, followed by Transport, 7.6% while Food and Beverage, 5.9%.