News of money

Argentina dodges FATF money-laundering ‘grey list’

24-10-2024 18:44 Financial Action Task Force money-laundering watchdog approves report on Argentina and Milei government avoids possible sanctions which might have placed investments at risk.

BEYOND THE HEADLINES

Poverty lies under the mattress

05-10-2024 06:06 Idle capital amounting to over half of Gross Domestic Product surely goes a long way towards explaining why over half the population is poor.

by Michael Soltys

FIGHT AGAINST MONEY-LAUNDERING

Argentina at risk of falling onto FATF money-laundering ‘grey list’

31-08-2024 05:54 President Javier Milei wants to introduce a ‘blanqueo’ whitewash amnesty for undeclared assets. But his plan could see Argentina fall foul of the Financial Action Task Force money-laundering watchdog. RIGI multi-billion dollar investment incentive scheme is also under scrutiny.

by Ariel Maciel

POLITICS – ANALYSIS

Milei under pressure for the first time

06-07-2024 05:59 If the doubts regarding Milei’s capacity to preside over Argentina were tied to governability risk, Caputo’s are connected to credibility risk: it’s difficult to see how the current policy framework can be sustainable in time.

by Agustino Fontevecchia

CURRENCY IMPROVISATION

La Rioja Province puts its own ‘quasi-currency’ in circulation

02-07-2024 16:01 New ‘chachos’ enter into circulation, currency honours local caudillo; Provincial Governor Ricardo Quintela announced the plan back in January, which won approval from local legislature a month later.

FEATURE

Norberto Milei: The unknown story of the President’s father

25-05-2024 05:27 How President Javier Milei’s father went from being a bus-driver to businessman. His lost trials for tax evasion and the companies he formed with his daughter, Karina, to manage millions of dollars. The scenes of physical and psychological violence which distanced him from his son.

by Juan Luis González

BILLS, BILLS, BILLS

10,000-peso banknote enters into circulation

07-05-2024 22:10 In a move that recognises runaway inflation of almost 290 percent, Argentina launches a new high-denomination banknote of 10,000 pesos – worth around US$11.

TAX-EVASION SCANDAL

'Panama Papers' trial to begin eight years after tax scandal

08-04-2024 09:20 Twenty-seven people in the dock for money-laundering as the "Panama Papers" case reaches trial, eight years after scandal first broke out.

EDITORIAL

Prices out of the market

12-01-2024 15:24 President Milei wants to avoid the failures of Mauricio Macri’s gradualism but the shock approach might have too short a fuse.

BILLS, BILLS, BILLS

Argentina to issue 20,000-peso bills as inflation eclipses 211%

12-01-2024 09:55 Argentina is preparing to offer larger denomination peso bills in an attempt to simplify daily transactions.

ECONOMIC INDICATORS

Record money-printing: 9.439 billion banknotes in circulation as Fernández leaves office

04-12-2023 18:01 The money moving around "the street" has gone up 80 percent in the last four years. On average there are currently 2,050 banknotes per inhabitant in circulation, none worth more than US$2 each.

CURRENCY CLAMPDOWN

Half-billion pesos seized, whistleblower arrested in exchange house raid

16-11-2023 18:23 Leonardo Fariña, whistleblower in “K money route” graft case, arrested when Federal Police and Customs officers raided illegal ‘cueva’ exchange house in Belgrano

'Yachtgate' scandal

Almost US$600,000 seized by police from Sofía Clerici’s home

24-10-2023 16:51 US$569,700 confiscated by Federal Police from the home of model Sofía Clerici at the upmarket neighbourhood of Nordelta in the framework of the money-laundering and embezzlement case.

CRIME

‘Croat’ Ivo Rojnica arrested by police in Nordelta

24-10-2023 16:20 Ivo Rojnica, allegd boss of Nimbus Group parallel exchange house, arrested in the middle of 23 raids ordered by federal judge. Businessman Federico Pulenta and another financier also apprehended. The case is for money-laundering linked to alleged drug-dealing.

ELECTION 2023: ANALYSIS

Money machine and fear were all it took to stop Milei’s surge

24-10-2023 12:34 All it took to shatter Javier Milei’s bubble was the Peronist machinery going into high gear and a jacking up of the fear factor.

CRISTINA & THE COURTS

Supreme Court delivers judicial setbacks for Cristina Fernández de Kirchner

10-10-2023 18:37 Argentina’s highest court moves to dismiss different claims made by the former president’s defence team in the money-laundering and Iran memorandum cases.

ECONOMIC INDICATORS

Government has printed equivalent of 18% of GDP since 2019

19-09-2023 09:33 New report says President Alberto Fernández’s administration has printed the monetary equivalent of 3% of GDP so far this year, most of it aimed at the repurchase of bonds to protect their price level.

CRISTINA & THE COURTS

Double judicial setback for Cristina Fernández de Kirchner

18-09-2023 23:20 Federal Appeals Court orders reopening of two high-profile cases against Argentina’s vice-president: Hotesur-Los Sauces corruption probe and controversial Memorandum of Understanding with Iran. Beginning of both trials likely to be delayed due to additional appeals.

Political Scandals

Colombian president's son arrested on money-laundering charges

31-07-2023 12:43 Nicolas Petro was arrested on July 29th, 2023, on charges of money laundering and illicit enrichment in a scandal linked to his father's election campaign, officials said.

INTERVIEW / PERIODISMO PURO

Martín Guzmán: ‘Abandoning the currency never did anybody any good’

10-06-2023 06:27 Argentina’s former economy minister on tackling inflation, unifying the exchange rate regime, the IMF debt deal he negotiated and what happens after the October election.

by Jorge Fontevecchia

CRISTINA & THE COURTS

Judge dismisses ‘Ruta K’ graft case against Fernández de Kirchner

05-06-2023 18:46 Federal Judge Sebastián Casanello, acting upon a request filed by the ‘Ruta K’ case’s lead prosecutor, dismisses charges against Vice-President Cristina Fernández de Kirchner.

BILLS, BILLS, BILLS

Central Bank finally puts 2,000-peso bill into circulation

23-05-2023 12:53 Argentina begins circulating new higher denomination banknote as consumer prices continue to surge; New bill worth just US$8.50 at official rate and close to US$4 on parallel markets.

POLITICS & JUDICIARY

‘No evidence’ – Fernández de Kirchner attacks grounds for graft conviction

10-03-2023 20:40 Vice-President reignites her ongoing feud with Argentina’s Judiciary on Friday, comparing its members to the mafia and declaring that they seek to “ban” her from holding public office.

JOINT CURRENCY PLAN

Brazil and Argentina are discussing whether to combine currencies

23-01-2023 09:31 Argentina and Brazil are in the preliminary stages of renewing discussions on forming a common currency for financial and commercial transactions, the leaders of the two nations reveal.

BLOOMBERG

Rich investors pull out of Chile, leaving behind a US$50-billion hole

19-01-2023 14:45 Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.

‘FIFAgate’ graft scandal

Defendants stand trial in New York in 'FIFAgate' corruption case

16-01-2023 16:18 Argentine-American Hernán López and Mexican-American Carlos Martínez, ex-employees of US giant 21st Century Fox, stand trial on corruption, bank fraud and money-laundering charges in US court.

Bloomberg

Argentina must avoid ‘hot money’ pitfall, top economist says

28-12-2022 18:17 Influential Carlos Melconian details recommendations he is drafting for a more business-friendly government to enact following the 2023 elections.

Cristina & the courts

Prosecutor calls for CFK Hotesur-Los Sauces acquittal to be overturned

11-11-2022 10:47 Prosecutor Mario Villar requests that last year’s court decision that paved way for acquittal of defendants without bringing the case to trial be overturned.