News of interest

Six sovereign defaults in 13 months roil Latin American markets

13-05-2021 10:21 Sovereign bond defaults have piled up at a dizzying clip in Latin America since the coronavirus pandemic began.

RATE RISE

Brazil hikes interest rate, eyeing inflation

18-03-2021 11:39 First rate hike in six years for Latin America's biggest economy. Central Bank indicates another hike of the same magnitude could be coming in May.

BLOOMBERG

Argentina hikes rates after prices surge past expectations

12-11-2020 23:56 Central Bank hikes interest rates after October inflation report showed consumer prices surged at the fastest pace this year.

BLOOMBERG

Argentina turns to orthodox policy signals to ease dollar craze

06-11-2020 09:12 After tightening capital controls several times, Argentina's government has surprised investors by altering its tack in what appears to be an incipient effort to restore confidence.

Coronavirus pandemic

Congress approves bill saying Covid-19 vaccine is in public interest

31-10-2020 08:27 Senate approve bill declaring research and development, manufacture and purchase of vaccines against the novel coronavirus to be of public interest.

Bloomberg

Argentina is slowly shifting its monetary policy instrument

21-10-2020 18:27 Argentina is changing its monetary policy, Bloomberg reports, uniting two different benchmark rates of interest in a bid to reduce the cost of eliminating excess peso liquidity on the market.

monetary policy

Central Bank moves to unify interest rates

09-10-2020 11:27 Central Bank is taking steps to tighten its monetary policy and encourage banks to buy local peso assets.

Bloomberg

New York lawmakers’ last-minute move may cost Argentina dearly

27-05-2020 15:29 Investors could sue the country for full repayment if debt restructuring discussions turn sour, and that’s when an expensive quirk of New York state law could become a big problem.

Bloomberg

Paul Krugman: Liquidity trap has spread to emerging markets

12-05-2020 16:35 The so-called liquidity trap, when monetary policy loses its traction as interest rates get close to zero, has plagued rich countries for years – now, Nobel-Prize winning economist Paul Krugman says it has now spread to some emerging markets as well.

Bloomberg - Opinion

Helicopter money won’t ease Latin America’s pandemic pain

08-05-2020 09:25 Along with Covid-19, a fever of wonkery has broken out over how to reverse the collective economic contraction and to carry on once the health emergency has passed. As the worst of the pandemic is yet to come.

by Mac Margolis

BLOOMBERG

Suspension of local debt payments shows not all bondholders are equal

06-04-2020 16:11 Plan to stop payments on some dollar-denominated debt burns investors who put their faith in domestic bonds, improves outlook for holders of international notes.

Fight against virus

Crisis lending surges as government obliges banks to assist

02-04-2020 16:47 Credit lending is making a comeback in Argentina as the country seeks to flood its streets with pesos to mitigate the effects of the coronavirus.

Debt talks & Covid-19

Pandemic poses perfect storm scenario for Argentine debt

16-03-2020 08:05 The global downturn, and the crisis caused by the coronavirus, could yet strangely benefit Argentina, according to some economists.

Bloomberg

Central Bank to pause run of rate cuts

12-03-2020 22:33 Central Bank plans to keep its policy rate unchanged, as it weighs the impact of sell-off on world markets.

Interest rate cuts

Central Bank will continue lowering rates to curb inflation

04-03-2020 17:00 Central Bank plans to keep reducing its key interest rates further as inflation is expected to decelerate and as a tool to reduce debt costs.

Deadline approaches

Buenos Aires Province sweetens deal for 2021 creditors

27-01-2020 17:27 In exchange for pushing back the deadline on a US$250-million principal payment, investors would get paid interest on those funds, according to the offer revealed Monday.

CENTRAL BANK

Central Bank cuts interest rates for fourth time in just over a month

17-01-2020 13:49 The reforms consist of a reduction in interest rates to improve demand and will allow companies to send foreign currency to enhance international trade and capital control.

CORRUPTION & THE COURTS

Laura Alonso tells judge she ‘never covered up an infraction by Aranguren’

29-11-2019 13:26 Head of government’s Anti-Corruption Office appears before federal judge Luis Rodríguez as part of investigation into conflict-of-interest case.

FINANCIAL POLICY

Brazilian Central Bank cuts interest rate to record low

19-09-2019 16:30 Monetary authority slashes interest rates to a record low 5.5% for the second time in less than two months, as Latin America's biggest economy expresses concerns over "more intense slowdown in the global economy."

BLOOMBERG

Central Bank raises rate floor to 78% as prices soar

18-09-2019 21:27 The rate floor will lower to 68% for all of October, while Central Bank officials project that Argentina’s monetary base will grow at a monthly rate of 2.5% in September and October.

Bloomberg

Argentine bondholders pull out old guidebook to flee country

08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”

BLOOMBERG

Alberto Fernández says he would stop paying Central Bank interest on Leliqs

29-07-2019 19:02 The Frente de Todos presidential candidate said he would cease interest payments on notes known as Leliqs, used to implement monetary policy, in order to raise retiree pensions by 20 percent once he takes office.