The board of the BRICS-led New Development Bank (NDB) will hold a vote for the incorporation of Argentina in August, the entity’s president Dilma Rousseff told Argentina's Economy Minister Sergio Massa currently in China with a numerous delegation in search of money for an almost depleted Central Bank
3 commentsArgentina will have US$ 10 billion to play on the domestic foreign exchange market and avoid a steeper devaluation of the peso after renewing a currency swap with China, Economy Minister Sergio Massa announced in Beijing Friday.
4 commentsArgentina's Minister of Economy, Sergio Massa, announced from Shanghai that he has obtained financing for approximately US$ 1 billion for investments and disbursements that will strengthen the Central Bank's reserves.
Add your comment!Argentina's Economy Minister Sergio Massa is due in China Tuesday, in a desperate bid to secure much-needed dollars for the government's survival and bolster its chances in the upcoming presidential elections. President Alberto Fernández, who recently announced that he would not seek re-election, has taken a backseat, allowing Massa to spearhead this crucial mission.
5 commentsBy Mordechai Taji
Argentine Vice President Cristina Fernandez de Kirchner (CFK) did not announce on Thursday anyone's candidacy - hers or not - for this year's elections. She did not do it with her voice. But by her side were her son, Deputy Máximo Kirchner, Interior Minister Wado De Pedro, and Economy Minister Sergio Massa. It was a visual message: two of those three will most likely be on one of the tickets to be presented in the primary, mandatory, simultaneous, and open elections (PASO). She also confirmed that she would not run and frustrated the hopes of some unconditional faithful, who expected her to change her mind.
As Argentina raised the interest rate to 97% and adopted other measures such as the opening of food imports to control inflation while at the same time further restricting people's access to foreign currency, the “Blue” (a euphemism for “black market”) dollar rose again Monday to AR$ 483, it was reported in Buenos Aires.
The Brazilian Government of President Luiz Inàcio Lula Da Silva Thursday asked the US Treasury Department to exert some pressure on the International Monetary Fund (IMF) -of which the US is the largest shareholder- to help Argentina overcome the current crisis caused by the drought while still bound by commitments signed with the world entity, which are holding back the economic development of the South American country.
The “blue” (a euphemism for “black market”) dollar dropped to AR$ 467 Thursday after further announcements and measures from Argentine authorities, after reaching an intraday record of AR$ 497 on Tuesday. It is still an AR$ 72 peso (18.2%) increase for the month of April.
After the blue (a euphemism for black market) dollar reached nearly AR$ 500 on Tuesday, Superminister Sergio Massa's measures in order to avoid speculative maneuvers resulted in a drop to AR$ 474, it was reported in Buenos Aires.
By Mordechai Taji – Argentina's authorities are losing grip of the economy as the “blue” (a euphemism for “black market”) dollar hit AR$ 497 Tuesday before recoiling to AR$ 487, then bouncing back to AR$ 490, down again to AR$ 487 and back up once more to AR$ 495 amid growing unrest.