Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, November 24th 2024 - 04:24 UTC

Tag: IMF

  • Monday, June 4th 2018 - 08:49 UTC

    Colombia renews flexible credit line of US$ 11.4bn with IMF

    Mitsuhiro Furusawa, chair of IMF executive board, says that Colombia’s international reserves are “adequate for normal times”

    In a continuation of a previous arrangement, the International Monetary Fund (IMF) has approved Colombia for a flexible credit line of US$ 11.4 billion. The new two-year arrangement replaces the pre-existing credit line, which has now been cancelled. Colombia will continue to see the funds as precautionary to be used only in if economic conditions worsen due to an external shock or other emergency, according to the IMF.

  • Thursday, May 31st 2018 - 09:01 UTC

    Argentine Senate votes 37 to 30 to freeze utility rates; Macri expected to veto the bill

    Allegedly Macri had already drafted the veto, which if signed will sour a political relation with a divided opposition

    Following twelve hours of heated and at time acrimonious debate the Argentine Senate on early Thursday voted, 37 to 30, to freeze utility prices. President Mauricio Macri had anticipated that if the bill was passed he would veto it because there is no way the budget can stand an additional 1% of GDP deficit.

  • Tuesday, May 29th 2018 - 09:09 UTC

    The Way Out of Argentina’s New Crisis

    Until now, Macri has shown he can be an able administrator and an astute politician. The currency crisis could not have happened to a nicer guy. But it did.

    The late MIT economist Rüdiger Dornbusch used to tell his students in the 1980s that there are four kinds of countries: rich, poor, Japan, and Argentina. No one frets anymore about Japan buying its way to world domination. But the world is worrying again about Argentina.

  • Tuesday, May 29th 2018 - 08:11 UTC

    Italy's Mattarella appoints ex IMF interim prime minister and quells the situation... for now

    President Sergio Mattarella vetoed the parties' choice of a euro skeptic as economy minister, prompting populist parties to accuse the president of betraying voters

    Italy's president set the country on a path back to fresh elections on Monday, appointing a former International Monetary Fund official as interim prime minister with the task of planning for snap polls and to pass the next budget. The decision to appoint Carlo Cottarelli to form a stopgap administration sets the stage for elections that are likely to be fought over Italy's role in the European Union and the euro zone, a prospect that is rattling global financial markets.

  • Saturday, May 26th 2018 - 09:11 UTC

    IMF/Argentina discussions to stabilize the economy are “progressing well”

    “We are really moving ahead and we have committed to President Macri that we will do the best we can in order to move expeditiously”, Ms Lagarde said

    “We are really moving ahead and we have committed to President Macri that we will do the best we can in order to move expeditiously and efficiently in order to change the perception about Argentina and the perception that people have about our role,” Ms Lagarde said in Russia.

  • Saturday, May 26th 2018 - 08:54 UTC

    Argentine church independence message: sigh of relief for embattled Macri

    Members of the Macri administration during the ceremony listening to Cardinal Poli's homily calling for unity and better distribution

    A sigh of relief from Argentine president Mauricio Macri and his administration following on Friday's Tedeum by the Archbishop of Buenos Aires, which marks the Church' message on May 25, the symbolic celebration of the first independence efforts during the 1810 Revolution.

  • Sunday, May 20th 2018 - 13:15 UTC

    Venezuela: Proselytism, pro-government advantage and hunger on the eve of the presidential election; the crisis gets worse

    IPYS denounces the abuse of resources and state assets in the electoral campaign, as information and propaganda prevails in state radio stations.

    A few hours before the presidential election of May 20 in Venezuela, which is not recognized by dozens of countries in the region and is classified as “fraud” by the opposition of that country, official statements and messages favorable to the candidate and current president , Nicolás Maduro, have flooded the programs of the open media in Venezuela, according to a report by the Press Institute and Venezuela Society (IPYS).

  • Wednesday, May 16th 2018 - 09:09 UTC

    Argentina seems to have managed Tuesday's challenge, but what comes next?

    Finance minister Luis Caputo said Argentina managed to float additional bonds, equivalent to US$ 3 billion in Pesos

    Argentina’s central bank on Tuesday rolled over billions of dollars in short-term debt, providing President Mauricio Macri’s government with a shot of confidence after weeks of economic volatility. In a statement, the Argentine central bank said it refinanced all of the US$ 26 billion of peso-denominated short term bonds that matured on Tuesday. Investors were attracted by renewal rates of 40% for 36-day Lebac and 38% and 38,5% for 90 days and plus, Lebacs.

  • Monday, May 14th 2018 - 08:20 UTC

    The Economist: Will Argentina's woes spread?

    Argentina’s rate of inflation, which exceeds 25%, seems to belong to a lost world. Only in Egypt, Nigeria and Turkey is inflation even in double digits.

    Argentina has much in common with yesterday's emerging markets, but little in common with today's

  • Thursday, May 10th 2018 - 08:20 UTC

    Argentine congress passed capital market reform bill; Merval up 6%

    Argentina's benchmark Merval stock index reacted strongly and was up nearly 6% on Wednesday afternoon.

    The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers.