Argentina central bank chief Guido Sandleris resigned on Wednesday, an expected step as Latin America’s third-largest economy transitions to Peronism next week under newly elected President Alberto Fernandez.
Argentine President Mauricio Macri met with his International Monetary Fund backers in New York on Tuesday, but there was little light shed on whether the body was likely to approve a key US$ 5.4 billion tranche of funds to the indebted country.
A group of Argentina’s biggest bondholders will meet with the country’s treasury minister in New York this Monday to hear how Latin America’s third-largest economy plans to dig itself out of its latest debt crisis.
According to estimates among analysts, the Argentine Peso's production will be around $ 300,000 million for the remainder of the year, estimating inflation for 2020 even higher than this year. 80% of that issuance corresponds to the last month of the year, breaking the objective that the Central Bank of Argentina (BCRA) of “zero-emission” had set and jeopardized the exchange control as it works since August.
Argentina’s central bank is talking to the International Monetary Fund about revising its monetary policy target for September, the institution’s president Guido Sandleris told reporters in Buenos Aires on Monday.
The International Monetary Fund is analyzing the impact of a new debt plan announced by Argentina’s Treasury Ministry on Wednesday, an IMF spokesman said. IMF staff understands that Argentina has taken “important steps” to address liquidity needs and safeguard reserves, the statement by IMF spokesman Gerry Rice said.
Argentina could be downgraded again by Fitch Ratings if further weakness in the Peso boosts the risk of default, the agency’s head of sovereign ratings said in an interview. Argentina has issued billions of dollars worth of bonds denominated in U.S. currency.
Argentine Central Bank President Guido Sandleris Tuesday admitted inflation remains high, but he forecast July's figures will be smaller than those of June in light of the current clear trend to the downside.
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.
An International Monetary Fund (IMF) mission led by Mr. Roberto Cardarelli visited Argentina during February 11–22, 2019 to conduct discussions on the Third Review of Argentina’s IMF-supported program under the Stand-By Arrangement (SBA). Talks continued in Washington DC after the end of the mission.