Tag: Mauricio Macri

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.
Friday, August 23rd 2019 - 09:54 UTC
Opposition candidate pledges to respect Argentina's debts and rejects defaulting

Argentine presidential candidate Alberto Fernández said on Thursday that no one wants a default for the country and he's ruling it out if elected. The center-left candidate appeared to be trying to calm investors who reacted to his strong finish against conservative President Mauricio Macri in an initial round of voting by battering Argentina's stocks and currency.
Thursday, August 22nd 2019 - 16:26 UTC
Argentina will support the Peso with international reserves

Argentina will not allow a chaotic fall in the peso and will use its dollar reserves to bolster the currency against political uncertainty that has swept the country since the Aug. 11 primary election, Treasury Minister Hernan Lacunza said on Wednesday.