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MercoPress, en Español

Montevideo, November 23rd 2024 - 10:38 UTC

Tag: Mauricio Macri

  • Thursday, May 17th 2018 - 09:10 UTC

    The dollar falls in Argentina while in Uruguay the rise “does not worry”

    After the rise, the currency was shown at 31.50 Uruguayan pesos for sale on the slates. However, he was flirting with the $ 32 during the previous day. (Photo: Sebastián Astorga)

    The recent rise of the dollar in Argentina had some impact in Uruguay, where it has an accumulation of 7.4% in May. However, for the president of the Central Bank of Uruguay, Mario Bergara, the escalation only owes 20% to the exchange rate in Argentina and rather considers that Uruguay is accompanying global trends.

  • Wednesday, May 16th 2018 - 09:09 UTC

    Argentina seems to have managed Tuesday's challenge, but what comes next?

    Finance minister Luis Caputo said Argentina managed to float additional bonds, equivalent to US$ 3 billion in Pesos

    Argentina’s central bank on Tuesday rolled over billions of dollars in short-term debt, providing President Mauricio Macri’s government with a shot of confidence after weeks of economic volatility. In a statement, the Argentine central bank said it refinanced all of the US$ 26 billion of peso-denominated short term bonds that matured on Tuesday. Investors were attracted by renewal rates of 40% for 36-day Lebac and 38% and 38,5% for 90 days and plus, Lebacs.

  • Tuesday, May 15th 2018 - 06:54 UTC

    Argentina's “L” Day challenge: US$ 25bn in Peso bonds mature on Tuesday

    On Tuesday holders of Lebac Peso-denominated bonds issued by Argentina's Central Bank are maturing, sparking a potential US$ 25 billion payout

    The Argentine Peso plummeted to a new low on Monday despite government attempts to curb losses in recent weeks by hiking interest rates and shedding billions in foreign reserves. The Peso fell sharply on opening Monday and closed down 6.2%, trading at 25.52 against the dollar, having lost close to 33% so far this year.

  • Tuesday, May 15th 2018 - 06:43 UTC

    Argentine admits less growth and more inflation, but exports could be boosted with a dearer dollar

    “We will have somewhat less growth, and somewhat more inflation,” Dujovne told reporters. “It is obvious that will happen.”

    High interest rates will have a negative impact on activity, and the weaker peso resulting from a floating exchange rate regime will add to already sky-high inflation, but both are necessary to prevent a deeper crisis, Argentine Treasury Minister Nicolas Dujovne admitted on Monday.

  • Monday, May 14th 2018 - 08:20 UTC

    The Economist: Will Argentina's woes spread?

    Argentina’s rate of inflation, which exceeds 25%, seems to belong to a lost world. Only in Egypt, Nigeria and Turkey is inflation even in double digits.

    Argentina has much in common with yesterday's emerging markets, but little in common with today's

  • 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 - 06:29 UTC

    Argentine stock market climbs 6% and the exchange market operates cautiously

    Finance Minister Luis Caputo said the IMF deal would guarantee financing through the end of President Macri's first term in December 2019

    Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF.

  • 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 - 08:20 UTC

    Argentine congress passed capital market reform bill; Merval up 6%

    Argentina's benchmark Merval stock index reacted strongly and was up nearly 6% on Wednesday afternoon.

    The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers.

  • 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.