News of credit

IMF faces pressure to cut billions in fees for large borrowers

09-04-2024 16:51 IMF releases statement saying that “a number” of its board members were open to reviewing policies around surcharges, a move that could benefit Argentina, among other nations.

FINANCE

Milei seeks US$15 billion for removal of currency controls

18-03-2024 11:24 President Javier Milei says he would open up restrictions on foreign currency immediately if he has US$15 billion; Money could be provided by the IMF, multilateral bodies, private investors and even “some countries."

IMF DEBT PROGRAMME

Argentina, IMF talking about new programme outline

29-02-2024 12:20 Argentina, IMF in talks about outline of possible new programme to speed up exit from capital controls.

IMF DEBT PROGRAMME

IMF deputy chief says Argentina needs 'consistent' monetary, exchange policy

23-02-2024 09:30 International Monetary Fund second-in-command Gita Gopinath said Argentina's government is making significant efforts to "restore macroeconomic stability" after meeting with President Javier Milei.

IMF DEBT DEAL

Government reaches deal with IMF staff to unlock US$4.7 billion

10-01-2024 17:15 Argentina reached an agreement Wednesday with staff from the International Monetary Fund on the seventh review of the country’s US$44-billion programme.

IMF DEBT DEAL

IMF toughens stance, questions Massa's measures

09-11-2023 19:42 Directors on multilateral lender's board reportedly concerned by dramatic loss of reserves as they toughen criticism of Argentina’s government.

BLOOMBERG – ANALYSIS

Recession, inflation, devaluation: Economic troubles in 5 charts

19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.

IMF DEBT PROGRAMME

IMF confirms Argentina asked to postpone October payments

06-10-2023 14:52 Request confirmed by the global monetary watchdog on Thursday; Government will have to pay US$3.4 billion after the election.

INTERVIEW / PERIODISMO PURO

Alejandro Werner: ‘Trump would’ve backed Fernández and Biden would’ve Macri’

02-09-2023 06:17 Former Western Hemisphere director for the International Monetary Fund and ex-Mexico government official Alejandro Werner on Argentina’s programme, political backing from Washington and the country’s troubled relationship with the multilateral lender.

by Jorge Fontevecchia

ECONOMY MINISTER ABROAD

Massa’s trip to Brazil ends without deal on exports to Argentina

29-08-2023 10:00 Brazil had proposed using yuan reserves to guarantee payment; Haddad surprised by agenda unilateraly released by Massa.

Living with inflation

Spend now, worry later: no point saving in inflation-stricken Argentina

15-06-2023 15:04 Packed restaurants, long lines outside the theatre, concerts that sell out in hours – Argentines with purchasing power are responding with a frenzy of consumption in the face of soaring inflation.

Alberto in Brazil

Argentina and Brazil mull trade credit lines bypassing US dollar

03-05-2023 16:38 Over 200 Brazilian firms eye exporting in reais, not dollars; Lines would lift exports to Argentina amid its currency crisis.

NAZI ACCOUNTS PROBE

Credit Suisse accused of hindering probe into Nazi accounts

19-04-2023 10:13 Credit Suisse accused of impeding an investigation into its historical assistance to Nazis that had revealed a number of previously undisclosed accounts, including 99 allegedly linked to German officials or Nazi-affiliated groups in Argentina.

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.

Venezuela Economy

Maduro says Venezuela's economy grew 15% in 2022

13-01-2023 12:10 With informal dollarisation and easing of controls, Venezuela's economy has now recorded five quarters of growth between 2021 and 2022 after years of recession and hyperinflation.

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.

EXCHANGE MARKET

Argentina’s elaborate ploy to lure tourists has begun

21-12-2022 16:55 In a bid to boost tourism dollars in Argentina, the government is allowing travellers access to an exchange rate that nearly doubles their purchasing power.

CURRENCY CONTROLS

Argentina lets tourists tap parallel FX rate to bring in dollars

03-11-2022 12:53 Foreign tourists who use non-Argentine issued credit and debit cards will be charged a more lucrative financial exchange rate known in Spanish as the ‘Dólar MEP’ (Mercado Electrónico de Pagos).