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MercoPress, en Español

Montevideo, November 22nd 2024 - 06:02 UTC

Tag: International Monetary Fund, IMF

  • Tuesday, July 3rd 2018 - 07:26 UTC

    Argentina plans to free fuel prices starting in August

    Macri's pro-business government freed fuel prices last year, part of its efforts to unwind state controls on Argentina's economy

    Argentina will allow fuel retailers to freely set pump prices starting in August, according to an Energy Ministry official familiar with the plan, a move that could encourage badly needed investment in the nation's oil patch but risks worsening sky-high inflation and angering consumers.

  • Thursday, June 21st 2018 - 08:03 UTC

    IMF Executive Board approves US$50bn Stand-By Arrangement for Argentina

    Christine Lagarde said a recent shift in market sentiment and ill-fated confluence of factors have placed Argentina under significant balance of payments pressures

    The Executive Board of the International Monetary Fund (IMF) approved on Wednesday a three-year Stand-By Arrangement (SBA) for Argentina amounting to US$50 billion (equivalent to SDR 35.379 billion, or about 1,110 percent of Argentina’s quota in the IMF).

  • Friday, June 8th 2018 - 07:30 UTC

    IMF and Argentina agree on a 36-month US$ 50bn Stand-By Arrangement

    Christine Lagarde said the plan is owned and designed by the Argentine government, aimed at strengthening the economy for the benefit of all Argentines

    The Argentine authorities and IMF staff have reached an agreement on a 36-month Stand-By Arrangement (SBA) amounting to US$50 billion (equivalent to about SDR 35.379 billion or about 1,110% of Argentina’s quota in the IMF). This staff-level agreement will be subject to approval by the IMF’s Executive Board, which will consider Argentina’s economic plan in the coming days.

  • Tuesday, June 5th 2018 - 06:56 UTC

    IMF/Argentina talks “very constructive”; growth estimate falls to 1.3% from 2.5%

    “Talks are well advanced”, underlined Alejandro Werner

    The International Monetary Fund said on Monday that talks with Argentine authorities for financial support are well advanced and the plan is driven by Argentina priorities with a particular focus on protecting the most vulnerable.

  • Friday, May 18th 2018 - 07:49 UTC

    IMF confirms support for Macri, but also with greater focus on social protection

    Rice stressed that the current situation, marked by “renewed financial market volatility” is very different than the last time Argentina went to the IMF for aid.

    The International Monetary Fund will move quickly to agree on a loan program to support Argentina but there are no details yet on what it will entail, a fund spokesman said on Thursday. However spokesperson Gerry Rice also underlined that the IMF nowadays has a greater focus on social protection, in particular towards the most vulnerable, ensuring the economy and living standards.

  • Saturday, May 12th 2018 - 07:50 UTC

    Macri enlists further financial and political support, but Peso continued to slide

    Earlier on Friday, the peso fell to a record intra-day low of 24.50 per dollar as investors moved into dollar-denominated assets.

    Argentina’s central bank sold US$1.1 billion in the foreign exchange market on Friday and the peso weakened 2.74% to an all-time closing low of 23.35 per U.S. dollar despite talks aimed at securing an International Monetary Fund financing deal.

  • Friday, May 11th 2018 - 05:39 UTC

    IMF and White House support Macri's economic reform program

    “I stressed my strong support for Argentina's reforms to date, and expressed the Fund's readiness to continue to assist the government,” Lagarde said

    International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

  • Thursday, May 10th 2018 - 07:37 UTC

    Argentine minister meets IMF Lagarde and US Treasury official: ratifies “gradualism”

    Nicolas Dujovne is due to meet with IMF chief Christine Lagarde to request a financing package

    Argentina Economy Minister Nicolas Dujovne is due to meet on Thursday with IMF chief Christine Lagarde to request a financing package to help shore up the struggling economy, officials said. Dujovne will also meet with a senior US Treasury official in a key step in the talks with the IMF, which are likely to last six weeks, his spokesman said in a statement.

  • Wednesday, May 9th 2018 - 07:32 UTC

    Peso storm: Argentina requests a US$ 30bn precautionary credit from IMF

    “This will allow us to face the new global scenario and avoid a crisis like the ones we have faced before in our history,” President Macri said in a televised address

    Argentina asked the International Monetary Fund for financing to help stem a run from the Peso to the US dollar that is sparking a surge in interest rates and threatening to derail the country's economic recovery. The sum requested is estimated between 25 and 30bn dollars, 500% Argentina's IMF quota and could be disbursed in two forms, a flexible credit line or a precautionary credit line.

  • Wednesday, May 9th 2018 - 07:16 UTC

    UK appoints Trade Commissioner for Latin America and the Caribbean

    “With the IMF predicting that 90% of growth will come from outside the EU, we need to look at where the emerging markets are”, said Dr. Liam Fox.

    The United Kingdom's International Trade Secretary, Dr Liam Fox, named a new Trade Commissioner to champion British trade with Latin America and the Caribbean, as the UK prepares for future trade agreements with countries around the world.