AGRICULTURE & ECONOMY Viterra-Bunge deal to rescue soy giant Vicentin is now at risk Today 08:25 Deal to rescue Vicentin SAIC, one of the biggest suppliers of soybean meal fed to livestock herds around the world, at risk of falling apart because of court delays.
ECONOMIC WOES Brazil sees Argentina in urgent need of another bailout 30-05-2023 16:30 Lula's economic team considers that Argentina will soon need some sort of additional financial support, though details are not yet finalised.
BLOOMBERG - ANALYSIS Frantic push to solve sovereign debt crises irks Wall Street 28-05-2023 10:14 A shakeup is brewing in the US$1.6 trillion universe of emerging-market sovereign debt — whether Wall Street likes it or not.
RELATIONS WITH CHINA 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 DEBT TALKS 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.
INTERNATIONAL OUTLOOK IMF: US default would have 'very serious repercussions' globally 11-05-2023 17:01 International Monetary Fund urges Democrats and Republicans to reach a consensus on the looming debt ceiling, warning of potential impact for the United States and the global economy if the nation defaults on its debt.
IMF DEBT PROGRAMME Massa: IMF sees drought is ‘game-changer’ for Argentina 11-05-2023 16:48 International Monetary Fund spokesperson gives little away about talks over redrawing of multi-billion-debt deal in wake of historic drought, rebuffing questions from reporters over whether delivery of funds will be brought forward.
IMF DEBT TALKS IMF confirms progress in Argentina programme talks 09-05-2023 10:34 International Monetary Fund spokesperson says talks with Argentina over a reformulation of its record credit programme amid historic drought are “progressing in a constructive manner.”
POLITICAL INSIDER 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
FIERY SPEECH FROM CFK 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.
ELECTION 2023 CFK confirms she will not run for presidency 27-04-2023 23:27 Cristina Fernández de Kirchner reiterated on Thursday that she will not be a candidate in the October presidential elections.
DEBT PROGRAMME IN DOUBT? Argentina and IMF go back to drawing board on debt deal 27-04-2023 23:04 As an exchange rate crisis ravages the strength of the peso, spokespeople from the International Monetary Fund and the government confirm that “constructive” talks are underway to redraw terms of Argentina’s US$44.5-billion debt programme.
POLITICS & ECONOMY Fernández de Kirchner blames IMF for peso sell-off, inflation 27-04-2023 23:02 Cristina Fernández de Kirchner criticises the International Monetary Fund for prohibiting Argentina's Central Bank from intervening in financial markets to tame currency volatility in keynote speech.
IMF DEBT PROGRAMME 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.”
MONETARY POLICY 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.
REGIONAL ECONOMY Latin America’s policy-makers warn investors of long fight against inflation 17-04-2023 17:08 Battle against inflation will take longer than expected, the region top economic authorities said at IMF Spring Meetings.
IMF DEBT PROGRAMME Argentina and IMF to rework US$44-billion deal as drought hits economy 15-04-2023 12:48 Argentina and the International Monetary Fund are going back to the drawing board again over US$44-billion programme as concerns increase that record drought will push the country into recession.
DEBT DEAL ‘Severe drought harming Argentina’s population,’ admits IMF chief 13-04-2023 18:09 Brazil’s President Lula claims International Monetary Fund is choking Argentina’s economy as it struggles to comply with its US$44-billion programme.
NEIGHBOURLY INTERVENTION 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 REVIEW 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.
IMF DEBT PROGRAMME IMF calls for ‘stronger policy package’ from Argentina 02-04-2023 09:14 International Monetary Fund calls on government to adopt "a stronger policy package" in the face of economic crisis and historic drought.
POLITICS – ANALYSIS Can they regain control? 01-04-2023 00:06 Once again, Argentina’s deep fragilities have surfaced as much-needed reform was replaced with kicking the can down the road, meaning that what could have been a relatively stable mediocrity all the way to the elections could be replaced with frequent turbulence. by Agustino Fontevecchia
IMF DEBT PROGRAMME IMF board approves US$5.3-billion loan disbursement for Argentina 31-03-2023 19:48 International Monetary Fund’s executive board on Friday approved a US$5.3-billion disbursement to Argentina, a key step forward in the government’s programme that’s faced setbacks amid a worsening economic outlook.
DEBT RATING 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.
RATINGS AGENCy 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.
Bloomberg Argentina's credit rating cut by Fitch on public-sector debt swap 24-03-2023 19:09 Argentina's credit rating has been downgraded by Fitch Ratings to the lowest level above default as the government plans to force state institutions to dispose of their holdings of dollar-denominated bonds.
Bloomberg Government wants to swap public sector local debt for 2026 bonds 21-03-2023 13:10 Officials want to sell new bonds maturing in 2026 and 2027, lengthening the sovereign debt maturity curve as a way of sending a signal to the private sector to also extend their maturities.
CENTRAL BANK Argentina raises key rate to 78% for first time since September 16-03-2023 17:43 Argentina raised its benchmark rate on Thursday for the first time since September after annual inflation surpassed 100%.
IMF DEBT REVIEW 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 DEBT PROGRAMME 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.
DEBT SWAP OFFER Argentina's officials, analysts disagree on results of debt swap 12-03-2023 08:56 Participation in last Thursday's debt swap may have been less than reported, with government officials and analysts disagreeing on how the results should be counted.
DEBT SWAP OFFER Government hails ‘success’ of 4.34-trillion local debt swap 10-03-2023 10:52 Argentina swaps 4.34 trillion pesos ($21.66 billion) in domestic debt, exchanging 64% of maturing notes for new ones due in 2024 and 2025.
DEBT SWAP Government swaps US$21.7 billion of debt, easing default fear 09-03-2023 23:11 Argentina exchanges 4.34 trillion pesos (US$21.7 billion) in a local debt swap, alleviating immediate concerns of a potential local debt default.
DEBT SWAP 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.
DEBT SWAP 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.
DEBT SWAP Argentina to offer local debt swap to ease default fears 06-03-2023 16:46 Government will offer investors chance to swap local debt holdings for new bonds in a bid to calm fears of a default.
POLITICS & ECONOMY Opposition slams government’s plans for peso debt swap 06-03-2023 14:41 Opposition economists slam impending peso debt swap between the government and local banks, saying it will add to the fiscal problems facing next administration in December.
DEBT DEBATE UN development chief sounds alarm over debt distress 06-03-2023 12:23 A top United NAtions official has warned that "urgent" measures are needed to help 52 countries, including Argentina, facing debt repayment problems that put some at risk of default.
IMF DEBT DEAL 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.
IMF DEBT DEAL 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.
Bloomberg Argentina looks to roll over US$1.6 billion of local debt mountain 15-02-2023 11:48 Local debt auction will serve as a final test of local investors' appetite for government peso debt as annual inflation continues to soar.
BLOOMBERG - ANALYSIS Argentina is buckling under strain of US$174-billion debt mountain 10-02-2023 14:36 Cut off from global credit markets, Argentina’s government is selling ever more local currency bonds, amassing a debt load that already totals 33 trillion pesos and is rising almost exponentially.
DEBT INTERVENTION Argentina’s US$1-billion bond buyback is baffling investors 19-01-2023 14:25 While repurchasing the bonds at a fraction of their face value could ultimately save the country hundreds of millions of dollars in interest and principal payments, investors point out that the government doesn’t have very much room in Central Bank coffers to fund such a lavish buyback.
MARKETS 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.
BLOOMBERG - OPINION 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.
Debt intervention Argentina to buy back US$1 billion in foreign debt 18-01-2023 09:15 Economy Minister Sergio Massa says Argentina’s government will buy back US$1 billion of foreign debt in bid to improve the country’s debt and risk profile; Measure, confirmed via resolution published in Official Gazette, focused on global bonds maturing in 2029 and 2030.
MARKETS Venezuela’s nine-cent bonds lure a distressed-debt veteran 28-12-2022 14:16 Trader raising money to buy defaulted Venezuelan bonds amid signs of easing tensions between President Nicolás Maduro, the political opposition and the United States.
DEBT DEAL IMF board approves US$6 billion in fresh funds for Argentina 23-12-2022 00:50 International Monetary Fund announces that its board of directors has signed off on third review of Argentina's debt assistance programme and releases new US$6-billion disbursement of funds.
MARKETS 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.
ECONOMIC INDICATORS 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.