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MercoPress, en Español

Montevideo, April 26th 2024 - 16:21 UTC

Tag: International Monetary Fund

  • Friday, August 24th 2018 - 08:50 UTC

    Argentina’s economy contracts in June for the third month running

    Manufacturing decreased 7.5%, while retail activity fell 8.4%. The construction sector also declined but slightly

    Argentina’s economy contracted 6.7% in June compared with the same month last year, and 1.3% compared with May, government statistics agency Indec said on Thursday. June was the third consecutive month of decline following 5.2% in May and 0.6% in April.

  • Wednesday, July 4th 2018 - 08:13 UTC

    Argentina reveals financial needs; stock market and the Peso rebound

    Stock markets rebounded, with benchmark Merval stock index closing up 7.38% on Tuesday. Bonds were also higher, with over-the-counter bonds up 1%

    Argentina will need to raise a net US$ 8 billion in the domestic debt market in 2019 to meet financing needs that include a US$ 7.4 billion primary deficit and US$ 25 billion in debt principal and interest payments, according to a Treasury Ministry document.

  • Tuesday, June 26th 2018 - 09:17 UTC

    Argentine public service unions strike to protest IMF deal halts the country

    Banks and schools remained shut and Buenos Aires slowly emptied of traffic as the day progressed.

    Argentina ground to a halt on Monday as public service unions blocked road, rail and air transport with a nationwide 24-hour strike in protest at the government's latest deal with the International Monetary Fund. In a massive show of force against the conservative government of President Mauricio Macri, organizers said at least one million workers were taking part in the industrial action which halted trains, subways, buses and flights in Latin America's third-largest economy.

  • Tuesday, June 26th 2018 - 08:35 UTC

    Latest member to join OPEC expects to raise oil production by 65%

    Congo Brazzaville joined OPEC last week and plans to open up its oil industry, which the government says is dominated by Total SA and Eni SpA, to new investors

    The Republic of Congo expects to raise oil production by as much 65% this year as two new projects come on stream, Hydrocarbons Minister Jean-Marc Thystere-Tchicaya said.

  • Wednesday, June 20th 2018 - 08:31 UTC

    Global Index decides on Wednesday if it includes Argentina and Saudi Arabia

    MSCI will announce the results of its Annual Market Classification Review on June 20 around 2030GMT.

    Global index compiler MSCI is considering including Argentina and Saudi Arabia in its emerging market indexes at a review of its widely-tracked benchmark on Wednesday, and could potentially announce candidates that may join its indexes in future.

  • Friday, June 15th 2018 - 10:25 UTC

    IMF report warns Trump administration on trade, tariffs and budget deficits

    IMF Managing Director Christine Lagarde said that a trade war “gives no winner and we find generally losers on both sides.”

    The International Monetary Fund said on Thursday that tax cuts will help fuel the U.S. economy this year and next. But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting.

  • Thursday, June 14th 2018 - 22:14 UTC

    IMF's Lagarde welcomes Argentina government’s economic policy plans

    Christine Lagarde with president Mauricio Macri during her recent visit to Argentina

    Argentine authorities have asked to use US$7.5 billion of the US$50 billion financing deal signed with the International Monetary Fund to fund their budget, IMF Managing Director Christine Lagarde said in a statement. Argentina’s Finance Ministry said in a separate statement that the funds would be sold on the market through pre-announced daily auctions conducted by the central bank.

  • Wednesday, June 6th 2018 - 08:45 UTC

    China and Argentina reinforce financial links with increased currency swap arrangement

    Cabinet chief Marcos Peña, said “we have an active swap with China that the previous government left us and we will try to make it bigger.”

    Argentina is looking to expand an existing currency swap arrangement with China, as Buenos Aires looks to stabilize the economy one month after applying for financial aid from the International Monetary Fund. In an interview with the Financial Times, Argentina’s Chief of Cabinet Marcos Peña, said “we have an active swap with China that the previous government left us and we will try to make it bigger.”

  • 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.