Investors have placed an excessively high-risk premium on Argentine assets compared to their peers, according to Finance Secretary Santiago Bausili, quoted in a report by Bloomberg. Argentina's country risk rating has been hovering at 7.0 percentage points.
China and Argentina signed a US$ 9 billion currency swap agreement to boost the South American country’s foreign currency reserves, its central bank announced on Sunday.
Former Argentine President Cristina Fernández Kirchner (CFK) Monday criticized the administration of her successor Mauricio Macri in a speech that lasted over an hour at the anti-G20 summit in Buenos Aires, saying - among other things - that by taking a loan from the International Monetary Fund (IMF) the current president merely manages what is dictated to him.
Argentina's Senate on Thursday gave final approval to an unpopular austerity budget designed to meet the stiff requirements of a US$ 57.1 billion International Monetary Fund bailout. Approval came as a great relief for battered president Mauricio Macri, but also a double victory, since it opens the way for his reelection aspirations next year.
The International Monetary Fund has cut its forecast for global growth as trade tensions intensify and currency and other woes impact emerging economies. The global lender projects that the world economy will expand by 3.7% this year and next, 0.2 percentage point lower than its previous forecast six months ago.
Argentina's GDP will fall 2.6% and inflation will reach 40% this year, according to the International Monetary Fund's Global Perspectives Report released Monday at the beginning of the body's annual Assembly in Bali, Indonesia.
Argentina's battered Peso currency inched higher and the risk of its bonds defaulting declined after the government unveiled its budget plan and the IMF said “important progress” had been made on revamping the country's standby loan agreement.
The International Trade Union Conference, ITUC’s affiliates in Argentina, CGT, CTA-A and CTA-T have announced a general strike for 24-25 September in opposition to expected sweeping austerity measures being developed by the government and the International Monetary Fund.
Argentina’s beleaguered peso stabilized on Friday as the central bank said it would auction a large amount of dollar reserves, and the International Monetary Fund (IMF) issued a strong statement of support for President Mauricio Macri’s government.
Argentina's peso hit an all-time low on Monday as Latin American currencies sank amid a broader sell-off in emerging markets that have been rattled by the Turkish lira's plunge.