Tag: dollar clamp

• Tuesday, November 6th 2012 - 20:41 UTC

  Real estate activity drops dramatically in Argentina because of ‘dollar-clamp’

  

  Argentina’s real estate sector is already feeling the negative consequences of the ‘dollar-clamp’ implemented by the government of President Cristina Fernandez a year ago, and in 2013 the effect could have an even greater impact for the construction industry.

• Tuesday, November 6th 2012 - 18:22 UTC

  Uruguay confirms in Argentina incentives for arriving tourists this summer season

  

  The Uruguayan government confirmed on Monday a raft of measures to attract Argentine tourists and compensate the restrictions in Argentina to purchase foreign currency (dollar-clamp) and the 15% retention fund for credit or debit cards operations outside the country.

• Thursday, November 1st 2012 - 23:28 UTC

  Argentina tightens ‘dollar-clamp’: end to mortgage loans in US currency

  

  Argentina tightened the ‘dollar clamp’ a further notch by including mortgage credits, which means people wanting to become home owners will not have access to the US currency.

• Tuesday, October 30th 2012 - 07:34 UTC

  Cristina Fernandez ‘dollar-clamp’ is one year old and still going strong

  

  A year ago the administration of President Cristina Fernandez imposed the first of a long chain of foreign money exchange restrictions that have caused a serious impact on the economy, the private sector and other provincial and city governments.

• Saturday, October 20th 2012 - 05:44 UTC

  Argentina and Colombia dispute place as second largest South American economy

  

  Argentine Economy minister Hernan Lorenzino struck back at Colombia’s claim that it has overtaken his country to become South America’s second largest economy behind Brazil.

• Thursday, October 18th 2012 - 06:57 UTC

  Moody’s downgraded debt ratings of several Argentine provinces and cities

  

  Moody's Investor Service announced on Wednesday it has downgraded the issuer and debt ratings of several provinces and cities in Argentina, due to the risks these states may face to access foreign currency and “serve their obligations in foreign currency.”

• Wednesday, October 17th 2012 - 04:29 UTC

  Argentina minister blasts credit rating agencies for putting out “terrorist reports”

  

  Argentine Economy Minister Hernán Lorenzino ratified Wednesday’s down payment of the “Bonar X” dollar-bond for 200 million dollars and blasted credit rating agencies which along with speculators “set terrorist reports in order to make some profit out of it.”

• Saturday, October 13th 2012 - 08:31 UTC

  “Dollar clamp” in Argentina extended to all outgoing tourists

  

  The Argentine foreign exchange clamp has reached the outgoing tourism industry which to have access to Central bank US dollars for the trip, must now report each ticket or package sale plus the overseas services contracted according to the latest resolution.

• Thursday, October 11th 2012 - 04:45 UTC

  Argentine central bank confirms no restrictions for governments to purchase dollars

  

  The Argentine central bank confirmed on Wednesday that there is no money exchange restrictions for the federal government or provinces to purchase US dollars to honour public debt issued offshore.

• Wednesday, October 10th 2012 - 08:13 UTC

  Foreign exchange clamp forces Argentine province to pay dollar bonds in pesos

  

  The foreign exchange clamp in Argentina is reaching the provinces, one of which at least was unable to honor maturing bonds in dollars and made the payment in Argentine Pesos.