Argentina's Central Bank (BCRA) Thursday decided to raise the benchmark interest rate by 300 basis points to 78% annually, it was announced in Buenos Aires the day after the INDEC said the Consumer Price Index for the month of February ad grew 6.6% for a year-on-year inflation of 102.5 %, the highest in the last 32 years.
Argentina's superminister Sergio Massa Friday announced a deal had been reached with the Paris Club for the repayment of Argentina's debt amounting to US$ 1.972 billion.
A technical team headed by Argentina's National Institute of Statistics and Census Chief Marco Lavagna is on its way to Paris to renegotiate the nearly US$ 2.500 billion debt the South American country has with 24 agencies and banks from 16 countries.
Economy Minister Sergio Massa Thursday announced he was close to reaching an agreement with the Paris Club for the repayment of Argentina's debt due by May 2020, which was affected by the COVID-19 crisis.
Argentina's Economy Minister Martín Guzmán Tuesday announced that the Paris Club had agreed to give his country until March 31, 2022, to pay the US $ 430 million in instalments while the rest of the debt is renegotiated.
Argentina aims to reach a deal with the International Monetary Fund over a new financing program before the end of March, a time frame that Fund veterans say is realistic if both sides show commitment. The news was reported by the economic media from Buenos Aires.
Loans to Venezuela from President Nicolas Maduro's allies Russia and China would be renegotiated through the Paris Club if Maduro leaves power, an advisor to the opposition said, responding to concerns about favorable treatment for the two countries.
Cuban Foreign Minister Bruno Rodriguez Parrilla and his Australian counterpart, Julie Bishop, Friday signed a memorandum of understanding whereby both countries will strenthen their economic ties.
Kevin Sullivan, US interim ambassador in Argentina affirmed on Thursday that the country must seek “practical solutions” with the 'holdouts' or the so called vulture funds over defaulted bonds.
New York judge Thomas Griesa has confirmed that the Citigroup bank will on a one-off occasion be permitted to process payment on Argentine bonds held under Argentine law, which form part of the titles restructured following the default of 2001.