Argentina's Central Bank Monday lowered the annual interest rate from 110% to 80% to strengthen the national economy and improve liquidity in the financial market, it was reported in Buenos Aires. In addition, it was left up to each bank to decide on the minimum rate for fixed-term deposits.
Argentine President Javier Milei said Tuesday at the Expoagro 2024 rural event in the city of San Nicolás in the province of Buenos Aires that “by improving the fiscal numbers, the door would be opened for us to start lowering taxes.”
After the International Monetary Fund (IMF) Board approved the staff-level agreement with Argentina's current administration, the Government of President Javier Milei received a US$ 4.7 billion disbursement which bolstered the Central Bank (BCRA) reserves to US$ 27.635 billion, it was reported Wednesday in Buenos Aires. The latest deal between Argentina and the IMF unblocked a new series of disbursements.
Argentina's Central Bank (BCRA) announced this week that would start printing AR$10,000 and AR$20,000 bills (a little under US$ 10 and 20 respectively) to meet the demand for higher-denomination banknotes, it was reported in Buenos Aires. The issuance of these denominations will facilitate transactions among users, the BCRA argued in a statement.
Argentina's Central Bank (BCRA) is entertaining the possibility of issuing AR$ 20,000 and 50,000 bills in a move to keep up with inflation and eliminate the need for large wads of banknotes for nearly every cash transaction.
Argentina's President-elect Javier Milei said Wednesday that he spoke “extensively” on the telephone with tycoon Elon Musk, who shall not be attending the Dec. 10 inauguration in Buenos Aires.
Argentina has complied with the payment of interests to the International Monetary Fund for US$ 790 million, it was reported Tuesday in Buenos Aires.
The “blue” (a euphemism for “black market”) dollar rose AR$ 10 Tuesday and sold for AR$ 810, thus setting a new record, it was reported from Buenos Aires.
The “blue” (a euphemism for “black market”) dollar Wednesday pierced the AR$ $500 barrier and set a new record high, it was reported in Buenos Aires. Meanwhile, the official exchange rate also went up despite the Central Bank (BCRA) selling some of its reserves.
The Argentine Central Bank's (BCRA) monthly Market Expectations Survey (Relevamiento de Expectativas del Mercado - REM) for June released Friday forecasts inflation to reach 142.4% by the end of 2023. The study details the forecasts of institutions, companies, organizations, and specialists on the evolution of the main economic variables.