News of austerity

IMF’s special drawing rights gives boost to Central Bank reserves

23-08-2021 21:42 International Monetary Fund boost of special drawing rights lifts Argentina's Central Bank reserves to highest amount in almost three years.

Bloomberg

Government speeds up money printing ahead of election

28-07-2021 17:00 Central Bank was printing money for the Treasury at the fastest pace so far this year in July.

Bloomberg

Not even 50% inflation will make Argentina boost interest rates

23-07-2021 16:47 Central Bank rules out increasing interest rates for the foreseeable future, even as currency pressures mount and annual inflation climbs above 50%.

MIDTERMS 2021

Alberto and Cristina reunite to chart economic course for campaign

14-07-2021 14:27 President Alberto Fernández and Vice-President Cristina Fernández de Kirchner huddled with Santiago Cafiero, Martín Guzmán and Axel Kicillof recently at the Olivos presidential residence. Sides agreed on no more austerity in order to inject money into upcoming electoral tussle.

by Rosario Ayerdi

BLOOMBERG

Oxfam says IMF loans force spending cuts that exacerbate poverty

12-10-2020 12:39 The vast majority of International Monetary Fund loans extended during the Covid-19 pandemic have suggested or demanded spending cuts that would worsen poverty and inequality, charity group Oxfam says.

BLOOMBERG

Argentina’s currency woes show no sign of easing

10-10-2020 08:31 Argentina’s hodge podge exchange rate regime is running out of steam.

ECONOMIC POLICY

Central Bank optimistic over post-bond swap future

25-08-2020 19:20 Central Bank Governor Miguel Ángel Pesce says closure of the debt swap deal would relieve pressures on exchange markets and improve economic expectations.

IMF CREDIT-LINE

IMF: Argentina has not yet requested new financing programme

15-08-2020 11:00 President Fernández says in interview that he will not allow Fund to impose austerity measures as part of a new financing programme.

DEBT, DEFAULT. DEAL

Goodbye default my old friend

08-08-2020 08:44 The ultimate question is if this agreement will spare Argentina the ordeal of holdout bondholders – Guzmán will have conjured a miracle if there are none to worry about once this deal is done.

by Martín Gambarotta

BLOOMBERG

Argentina would ease currency controls if debt talks are successful

29-05-2020 14:56 Central Bank leaders implemented new controls Thursday night, restricting companies’ access to the foreign exchange market to pay for obligations overseas in dollars or other currencies.

ECONOMY MINISTER

Guzmán backs wealth tax, rules out austerity measures in interview

20-04-2020 15:12 Economy Minister Martin Guzmán backs idea of a wealth tax on the country’s richest individuals and firms in an interview with Horacio Verbitsky.

RATE CUT

Central Bank cuts interest rate to 38%

06-03-2020 08:00 In its statement, the Central Bank’s committee said cooling prices justified the rate cut but that the economy wasn’t in the clear yet.

RATE CUT

Central Bank lowers key rate to 40%, extending cuts

19-02-2020 18:15 Central Bank chief Miguel Pesce justifies the rate cuts as a tool to help turn around Argentina’s economy, which is expected to contract for the third straight year in 2020.

RATE CUT

Central Bank cuts key interest rate for fifth time since December 10

30-01-2020 21:29 Rate floor cut to 48 percent on Thursday from 50 percent. Central bank chief Miguel Pesce has lowered it from 63 percent since taking office December 10.

TRANSITION 2019

Sandleris confirms resignation as Central Bank chief

05-12-2019 06:58 Central Bank chief confirms he will resign post ahead of December 10 handover. Argentina's monetary institution has had 61 presidents in the 84 years since its founding.

ECONOMIC INDICATORS

Central Bank alters 2019 forecasts: 3% drop in GDP, inflation at 55.6%

05-11-2019 14:15 Monthly survey carried out by Central Bank downgrades forecasts for Argentina's economy.

CURRENCY CONTROLS

Central Bank tightens 'cepo,' sets US$50 limit on cash advances abroad

31-10-2019 22:10 The move comes three days after the Central Bank sharply tightened currency exchange controls to stem a surge in capital flight.

CENTRAL BANK

Sandleris asks for 'basic consensus' to ensure Argentina grows

16-10-2019 08:29 "If we manage to build basic consensus, our economy can leave behind instability and crisis, so that we can begin to grow steadily and begin to lower inflation," declares Central Bank chief.