News of markets

Economy Ministry takes steps to relieve pressure on currency markets

21-10-2020 18:59 Economy Ministry unveils new measures designed to reduce the pressures on volatile currency markets and ward off devaluation.

IMF predicts 11.8% GDP slump, says talks will start in November

17-10-2020 10:18 IMF chief Kristalina Georgieva says Argentina needs “a credible and comprehensive economic agenda that balances supporting the economy and people in this difficult time.”

Billionaire-backed Argentine fintech Ualá launches in Mexico

29-09-2020 15:30 Ualá, the mobile payments startup backed by heavyweight billionaire investors George Soros and Steve Cohen, expands beyond Argentina into Mexico.

China delivers opportunity and controversy for Argentina’s pork sector

26-09-2020 10:00 Proposed deal with China is a chance to boost Argentine exports, but environmentalists are strongly opposed to it.

In midst of global recession, Argentina sets out in search of new markets

15-09-2020 18:16 Argentina is looking for new markets for its products in a world sunk in recession. The goal: to raise annual exports from US$65 to US$100 billion, according to government official Jorge Neme.

Argentines are abandoning a trade that hedged currency risk

14-09-2020 16:02 Dollar-linked instruments in the local market are being abandoned amid speculation government will create a weaker parallel exchange rate while giving investors less favourable terms.

Argentina bonds are trading as if the pandemic never happened

07-08-2020 12:34 Debt accord has left the bonds trading at pre-pandemic levels, even as the country lacks the outline of a credible economic plan to get itself out of the current deep crisis.

Negative-yielding corporate bonds are all the rage in Argentina

30-07-2020 14:21 Argentine companies issued a record US$596 million of dollar-linked bonds domestically in the past two months, and about a third now pay negative yields. Investors, nevertheless, are lapping them up.

Malbec bonds beat defaulted Argentine peers on investor hope

09-07-2020 02:26 A glimmer of hope is lurking within Argentina’s default-ravaged debt landscape: Bonds sold by Mendoza, the Andean-bordering province famed for exports of full-bodied Malbec wine.

Argentina risks losing emerging markets status, warns MSCI

23-06-2020 23:27 Concern about market accessibility in Argentina prompted MSCI to flag the country during this year's 2020 rating review. Turkey was also warned.

YPF shifts focus to strengthening finances as debt payments loom

13-05-2020 14:52 State oil and gas company's new CEO tells investors that company will go "back to basics" and cut costs to combat the current crisis.

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.

Coronavirus pandemic reverses Brazil's economic course

23-04-2020 08:15 When Paulo Guedes, Brazil’s University of Chicago-schooled economy minister arrived in office, he came with an aggressive market-friendly vision for re-founding Latin America’s biggest economy. But the coronavirus pandemic has torn up Guedes’ plans and left him out in the cold.

US oil prices crash to negative territory amid devatating glut

20-04-2020 17:53 Remarkable decline comes as the petroleum industry emerges as one of the corners of the global economy made most vulnerable by government shutdowns to limit the spread of coronavirus.

SoftBank’s Son bets on himself with US$7.4-billion pledge

24-03-2020 18:38 Masayoshi Son’s stake in the Japanese conglomerate has risen to 26.9 percent from 25.5 percent. With SoftBank’s shares gyrating wildly, he also pledged more stock against his holdings.

Ecuador lawmakers call for debt moratorium amid virus fight

23-03-2020 18:31 Ecuador’s Congress called on the government to suspend debt payments to free up cash to deal with the coronavirus pandemic, sending the nation’s bonds deeper into distressed territory.

France ready to nationalise as EU heavyweights take charge

17-03-2020 15:48 France is ready to use the ultimate weapon to protect its biggest companies from the market turmoil set in motion by the coronavirus: nationalisation.

Financial markets in turmoil over fear of virus lockdowns

16-03-2020 10:39 Global stocks fell sharply Monday after central bank moves to shore up economic growth failed to dispel investor's fears over virus controls that are shutting down global business and travel.

Black Monday: keys to understanding this week's fall in oil prices

09-03-2020 17:21 Trade war between Russia and Saudi Arabia is shaking the oil-dependent countries with prices in the range of US$30 a barrel, while markets are also facing the consequences of the Coronavirus outbreak.

by Lorena Rodríguez

Brazil's Central Bank will intervene 'as long as needed' to support real

09-03-2020 13:49 The Brazilian Central Bank pledged to support its tumbling currency with all instruments and for as long as needed just as it stepped heavily into the spot market for the first time this year.