Tag: Mauricio Macri

• Monday, September 2nd 2019 - 09:56 UTC

  Argentina imposes foreign-exchange controls to contain the run for dollars

  

  Argentina on Sunday imposed foreign-exchange controls on exporters as it closed out a week of financial uncertainty that saw a sharp drop in the peso. Exporters were ordered to seek permission from the Central Bank of Argentina before purchasing foreign currency, according to a decree published in the Official Bulletin.

• Monday, September 2nd 2019 - 09:50 UTC

  IMF supports Argentina and its temporary currency controls

  

  The International Monetary Fund said it will stand by Argentina after the government authorized currency controls on Sunday in an about-face by President Mauricio Macri, who had previously lifted many protectionist practices of his predecessor, Cristina Fernandez de Kirchner.

• Saturday, August 31st 2019 - 17:54 UTC

  The “Amazon fires of uncertainty” in Argentina: can they get worse?

  

  Argentina’s battered bonds were driven still lower on Friday after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big pension funds. Risk spreads blew out to levels not seen since 2005 while the local peso currency extended its year-to-date slide to 36%, forcing renewed central bank market intervention and intensifying worries about Argentina’s ability to honor its dollar-denominated debt.

• Friday, August 30th 2019 - 09:58 UTC

  S&P declares that Argentina's extension of maturities implies a “selective default”

  

  Credit risk agency Standard & Poors announced on Thursday that it was slashing Argentina’s long-term credit rating another three notches into the deepest area of junk debt, saying the government’s plan to “unilaterally” extend maturities had triggered a brief default.

• Friday, August 30th 2019 - 09:55 UTC

  No end to uncertainty: Argentine bonds plunge and the country risk soared to 2.276 points

  

  Argentine bond prices fell on Thursday and the country risk soared to levels not seen since 2005 after the government announced plans to extend maturities on an estimated US$ 100bn in debt, raising fear of a full-blown financial crisis.

• Thursday, August 29th 2019 - 19:12 UTC

  US State Department confirms close association with Argentina and whoever wins 27 October election

  

  United States said on Wednesday it expects to continue with the solid association with Argentina, 'whoever is the candidate that the Argentine people elect as their next president', on 27 October according to a source from US State Department Western Hemisphere Affairs.

• Thursday, August 29th 2019 - 10:50 UTC

  Argentina announces it will “re profile” IMF loan and sovereign bonds' maturities

  

  Argentina will negotiate with holders of its sovereign bonds and the International Monetary Fund to extend the maturities of its debt obligations, as a way of ensuring the country's ability to pay, Treasury Minister Hernan Lacunza said on Wednesday.

• Thursday, August 29th 2019 - 10:16 UTC

  Argentina sells US$ 367m reserves to prop the Peso; country risk at another record level, 2.125 points

  

  Argentina’s peso was battered on Wednesday as the central bank sold US$ 367 million of its dollar reserves in a second consecutive day of heavy intervention aimed at controlling the currency’s fall. Likewise the country risk rose 135 basis points to 2,125, its highest in 14 years, before partially recovering, according to the JP Morgan Emerging Markets Bond Index Plus.

• Wednesday, August 28th 2019 - 09:59 UTC

  Macri anticipates that Argentina's inflation will accelerate to 3% in August; country risk reaches 1.990 points

  

  Argentine President Mauricio Macri said that monthly inflation would accelerate to 3% in August following a slump in the peso, as the central bank intervened heavily in the market on Tuesday to prop up the local currency.

• Monday, August 26th 2019 - 18:51 UTC

  Tens of thousands march in support of Macri in Buenos Aires and other cities

  

  Tens of thousands of Argentines jammed streets in the capital Buenos Aires and other cities on Saturday to show support for conservative President Mauricio Macri, who is facing a tough fight heading into general elections in October in a country beset with economic challenges.