News of debt

Economy Minister Sergio Massa to fly to China for swap line talks

28-05-2023 10:08 Argentina's economy minister will travel to China next week in a bid to free up more cash from a currency swap line that could help stem a peso sell-off before this year’s presidential election.

IMF ‘evaluating’ new government measures as talks continue

18-05-2023 20:41 International Monetary Fund says they are still "evaluating the measures" announced this week by Argentina’s government, as negotiations over changes to the country’s multi-billion-dollar credit-line advance.

Alberto, CFK and Massa: three different strategies for upcoming elections

30-04-2023 09:07 Sergio Massa’s management is supported by Vice-President Cristina Fernández de Kirchner, but she has not blessed his candidacy. President Alberto Fernández insists that he will present his own hopeful, but the economy minister’s battle against inflation and currency crises – and how they play out – could be the deciding factor.

by Rosario Ayerdi

Cristina attacks Milei's dollarisation plan, blames IMF for inflation

27-04-2023 23:52 Vice-president declares that dollarisation would be “worse than convertibility” as she delivers highly anticipated speech that attacks IMF policies, opposition ‘inheritance’ and Javier Milei.

Kirchnerites ramp up pressure ahead of IMF talks

20-04-2023 18:22 Argentina and the IMF agree to renegotiate US$44-billion programme amid concerns over impact of drought; Interior Minister Eduardo de Pedro slams deal for creating “vicious inflationary circle” and says “everything has to be re-discussed.”

Central Bank lifts rate to 81% as inflation jumps

20-04-2023 15:58 Argentina's Central Bank raises its benchmark interest rate by 300 basis points to 81% in response to March inflation data.

Lula says IMF is choking Argentina’s economy with debt

13-04-2023 12:52 Brazil’s president claims International Monetary Fund is choking Argentina’s economy as it struggles to comply with its US$44-billion programme. 

IMF makes concession, trims Argentina’s reserves target

04-04-2023 16:18 International Monetary Fund grants government request and decides to trim annual reserves accumulation target by US$1.8 billion, acknowledging impact of drought on foreign currency inflows.

Global ratings agency S&P cuts Argentina's credit score

30-03-2023 10:43 S&P Global Ratings downgraded Argentina's credit rating to just three notches above default as investors brace for a looming recession in an election year.

Argentina default on foreign currency debt 'imminent,' says Fitch

25-03-2023 09:34 Fitch Ratings downgraded Argentina's foreign currency debt on Friday by two notches to leave it hovering one level above default.

IMF ready to ease targets after review of Argentina's debt deal

13-03-2023 21:11 International Monetary Fund confirms staff-level agreement with Argentina on fourth review of debt programme and calls for “modification of net international reserve accumulation target”; News paves way for new US$5.3-billion disbursement later this month.

IMF sees ‘policy setbacks’ in review of US$44-billion deal

13-03-2023 20:01 International Monetary Fund calls on Argentina to make stronger efforts to address foreign reserve losses, galloping inflation and other “policy setbacks” amid a severe drought that’s hitting the commodities sector. 

Argentina looks to buy time on US$37 billion of maturing debt

09-03-2023 13:27 Argentina is expert at buying itself time to pay off debt that’s coming due, and on Thursday it plans to use its hard-earned skills to delay bond repayments of an estimated US $37 billion until after a presidential election. 

Argentina to swap peso debt to ease US$35-billion default fear

07-03-2023 11:04 Argentina will give investors the chance to exchange holdings of local debt into new bonds; Government wants to ease fears of a default on US$35 billion of local debt due in second quarter.

Argentina to change IMF net reserve target for third time

26-02-2023 08:46 Argentina and the IMF are discussing a smaller figure for net reserve accumulation in 2023, a cornerstone of the deal seen as the only major anchor providing some stability to the economy.

Argentina seeks fresh IMF approval – and US$5 billion in funds

21-02-2023 15:58 Top officials head to Washington for talks with IMF over latest quarterly review; Government needs to boost reserves amid strong foreign currency outflows and punishing drought that has wrecked agricultural harvest projections.

Bonds jump as government stuns market with billion buyback

19-01-2023 02:53 Economy Ministry is using dollars held by the Treasury to fund the buyback, including money it expects to save from energy imports it presumes it won’t need in 2023, according to sources.

Argentina’s bond buyback seems to make little sense

19-01-2023 02:45 It is generally thought that it is better to buy back bonds when they are cheap than when they have just posted a sharp rise, but perhaps Massa knows something we don't.

Latin America debt set for a comeback as politics give a break

12-12-2022 09:59 Dollar-denominated debt from Latin American governments and companies has handed investors returns of more than 10% so far this quarter, outperforming all other regions in an emerging-market index.

UCA report puts poverty rate at 43.1%

06-12-2022 14:07 More than 17 million people in the country are poor, according to the latest report by the influential Social Debt Observatory of the UCA Catholic university; Figure would rise to 50% without existing state assistance, concludes study.