Argentine President Mauricio Macri conceded defeat in Sunday's presidential election, congratulating rival Alberto Fernandez on winning the election.
Caution minded since Argentine public opinion polls were so far off the mark during the August Primary mandatory elections which triggered the current major political and financial upheaval in the country...
Poverty in Argentina rose to 35.4% of the population in the first half of the year, the highest officially recorded level since 2001, the INDEC national statistics bureau reported today. This means that some 15.8 million Argentines are now considered poor, INDEC's data indicates. At the end of 2018, 32% of Argentines were said to be living in poverty.
The province of Mendoza has delivered to the Argentine ruling coalition of president Mauricio Macri a much needed great stimulus with its landslide governorship victory.
Argentina’s financial program with the International Monetary Fund (IMF) will be on hold for some time as the nation grapples with severe political and economic uncertainty, the Fund’s Acting Managing Director David Lipton said an interview.
The International Monetary Fund has a tough choice to make in Argentina: unlock US$5.4 billion in funds under the country’s loan deal as the government strains to stave off default, or hold the money back and risk sparking more market panic.
It happened in 1989. It happened in 2002. Argentines who are old enough to remember do not want to go through it again.
Argentina could be downgraded again by Fitch Ratings if further weakness in the Peso boosts the risk of default, the agency’s head of sovereign ratings said in an interview. Argentina has issued billions of dollars worth of bonds denominated in U.S. currency.
A bishop had denied point-blank any involvement of Pope Francis in Argentine politics, following on August 11 presidential primaries, which have quashed President Mauricio Macri's reelection aspirations, increasing opposition candidate Alberto Fernandez chances of taking office next 10 December, while Latin America's third economy was driven into financial chaos as the word default creeps intensely as a possibility in the near future.
Argentina's Peso ended a tumultuous week on Friday having shed 20% in its value against the dollar as Fitch cut the South American country's long-term debt by two notches, citing increased uncertainty and a rising risk of default.