Tag: Mauricio Macri

Monday, July 16th 2018 - 08:44 UTC
Argentina's debt expected to peak at 65% of GDP by end of 2018

The International Monetary Fund (IMF) expects Argentina’s government debt to peak by the end of 2018 and then fall as the country cuts its deficit as part of its US$50 billion deal with the Fund, according to a document published.
Friday, July 13th 2018 - 05:52 UTC
Argentina: Macri grants a 20% salary increase to the Armed Forces

In an effort to fix a persistent deterioration of relations, the President ordered a 20% rise in the salaries of the Armed Forces. It was a political decision against the fiscal austerity measures that the government promised the IMF to deserve a financial rescue of 50,000 million dollars, but necessary to calm what already threatened to become a serious storm.
Tuesday, July 10th 2018 - 07:41 UTC
Macri admits mistakes and calls for support from governors, unions and business leaders

President Mauricio Macri, First Lady Juliana Awada and members of his cabinet attended on Monday, 9 July, the Argentine Independence Day celebrations in the Tucuman Historic House, where 202 years ago the emerging nation cut all ties as a Spanish colony.
Monday, July 9th 2018 - 07:43 UTC
Argentina's austere Independence Day celebration in Tucuman, with no military parade

President Mauricio Macri and his cabinet will be celebrating Argentina's Independence Day, Monday 9 July at the Historic House in the northern province of Tucuman, where the declaration was first announced 202 years ago. Contrary to other years there will be no military parade in Tucuman or Buenos Aires, allegedly as a consequence of the strict austerity measures imposed by the Macri administration.
Monday, July 9th 2018 - 07:08 UTC
“Argentina on the rocky road to recession”, anticipates The Economist

On a residential street corner in Buenos Aires, Van Koning Market sells imported beers to the city’s well-heeled. Since it opened in June last year costs have soared. The peso has plummeted, meaning wholesale prices have shot up. Inflation is running at 26%; the reduction of government subsidies means the monthly electricity bill has risen from 700 pesos to 4,000 pesos (US$ 142).
Tuesday, July 3rd 2018 - 07:33 UTC
Argentina hikes bank reserves; Peso gains 1.9% vs the dollar and settles at 28.3

Argentina's central bank said on Monday that it hiked bank reserve requirements by 3 percentage points, following a hike of three percentage points on June 18 as monetary policymakers seek to calm inflation and end a run on the peso currency. The Peso gained 1.9% on Monday against the dollar.
Tuesday, July 3rd 2018 - 07:26 UTC
Argentina plans to free fuel prices starting in August

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.
Saturday, June 30th 2018 - 15:49 UTC
Argentine Peso and equities end the week back on skid row

After a week of relative stability, the Argentine peso slid more than 2.5% percent on Friday, as an economic crisis marked by high inflation, wobbly growth and an outflow of capital began to bite again.
Thursday, June 28th 2018 - 10:54 UTC
UK prepared to resume arms sales to Argentina after a six-year ban

Arms exports to the Argentine military are set to resume, more than six years after a ban imposed in a row over the Falkland Islands. Foreign Office Minister Sir Alan Duncan said restrictions would still be imposed on exports which could “enhance” Argentina's military capabilities.
Wednesday, June 27th 2018 - 08:12 UTC
Argentine economy shrinks 0.9% as agriculture hit by drought plummets 31%

Argentina’s economy shrank in April for the first time in more than a year, government data showed on Tuesday, while the central bank held its policy rate stable at 40% in the first rate decision since a shakeup in its leadership.