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MercoPress, en Español

Montevideo, April 18th 2024 - 00:58 UTC

Tag: Sergio Massa

  • Tuesday, April 25th 2023 - 19:46 UTC

    Argentine gov't losing grip: peso keeps plummeting

    ”We have been experiencing an atypical situation of rumors, versions, false reports, and their consequent impact on financial instruments linked to the dollar,” Massa explained

    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.

  • Thursday, April 20th 2023 - 10:23 UTC

    How far up did the US dollar go Wednesday against the Argentine peso?

    After six days of purchases, Argentina's Central Bank had to sell dollars to avoid a sharper increase in the “blue” rate

    Argentine Economy Minister Sergio Massa seems unable to find a way out of the country's current crisis. In this scenario, the “blue” dollar (a euphemism for “black market”) rose five more pesos Wednesday to close at AR$ 423 as the Central Bank (BCRA) ended with a negative balance of US$197 million, this bringing a streak of six positive rounds to an end. The country risk remained at 2,474 basis points, according to JP Morgan's index.

  • Wednesday, April 19th 2023 - 10:44 UTC

    What triggered a new “blue” dollar rise in Argentina?

    Aracre (right) turned in his resignation to defuse rumors and appease the markets

    Rumors about Economy Minister Sergio Massa's possible resignation, the “blue” (a euphemism for “black market”) US dollar rose again Tuesday against the Argentine peso. President Alberto Fernández was reported to have a name to replace Massa: that of his Chief Advisor Antonio Aracre, who turned in his resignation Tuesday afternoon in a move to appease the markets.

  • Saturday, April 15th 2023 - 08:12 UTC

    US Deputy Secretary of State meets with Argentine FM in BA

    “Together, Argentina and the United States can help provide fuel and food to the world,” Sherman said

    Argentine Foreign Minister and US Deputy Secretary of State Wendy Sherman met Friday in Buenos Aires to further discuss a bilateral agenda set out during the March 29 summit at the White House between Presidents Joseph Biden and Alberto Fernández.

  • Friday, April 14th 2023 - 10:40 UTC

    Argentina: “Blue” dollar hits psychological AR$ 400 mark

    The devaluation of the official rate was only 0.07% to stand at AR$ 221.61

    The unofficial exchange rate known as “blue” (a euphemism for “black market”) between the Argentine peso and the US dollar crossed the psychological US$ 1 / AR$ 400 barrier Thursday just a few days after the “agro” rate was implemented in a move to curb the volatile parity.

  • Wednesday, April 5th 2023 - 10:11 UTC

    Argentina: Minister Massa discusses trade with group of US Senators

    Massa insisted Argentina needs to export more to the US, for which certain barriers must be lowered

    Argentina's Economy Minister Sergio Massa met Tuesday in Buenos Aires with a group of US Senators to discuss economic and political cooperation in order to face the challenges posed by the new global reality.

  • Saturday, April 1st 2023 - 10:39 UTC

    IMF okays US$ 5.4 bn disbursement for Argentina

    ”The Board decision makes possible an immediate disbursement of US$ 5.4 billion (SDR 4 billion), bringing total disbursements under the agreement to about US$ 28.9 billion,” the IMF said.

    The International Monetary Fund (IMF)'s Executive Board Friday approved the fourth review of last year's Extended Facilities Program with Argentina, after which a US$ 5.4 billion disbursement for the South American country was cleared to proceed, it was reported in Washington DC.

  • Friday, March 31st 2023 - 08:36 UTC

    Argentina to launch “agro dollar” exchange rate

    Agro dollar will be in effect for 30 to 90 days, it was reported in Washington DC, where Massa was on an official mission to the International Monetary Fund (IMF).

    Argentine Economy Minister Sergio Massa Thursday announced the creation of the so-called “agro dollar,” a new exchange rate for agrifood exports, which seeks to help replenish the country's impoverished coffers while simplifying foreign currency operations for all rural producers.

  • Thursday, March 30th 2023 - 10:45 UTC

    Massa and Gopinath discuss IMF flexibilization and disbursement

    ”Good meeting with Minister Sergio Massa,” Gopinath said.

    Argentina's Economy Minister Sergio Massa Wednesday met with International Monetary Fund (IMF) Deputy Managing Director Gita Gopinath to discuss the flexibilization of the reserve's goals in addition to a US$ 5.3 billion disbursement to be announced early next week, it was reported in Washington.

  • Thursday, March 23rd 2023 - 10:53 UTC

    Argentine gov't to pesify state-held securities in foreign currency

    The US dollar fell slightly against the US peso after the announcements although it will take some time to implement the new measures

    Argentina's Economy Minister Sergio Massa and his aides held a working lunch Wednesday with a group of businessmen from banks, insurance companies, and investment funds, during which the new measures adopted to control a ballooning exchange rate between the local currency and the US dollar were outlined.