International Monetary Fund : IMF

IMF approves review of Argentina’s debt deal, says it’s ready to ease targets amid drought

International Monetary Fund confirms it has reached staff-level agreement with Argentina on fourth review of US$44.5-billion debt programme and calls for “modification of net international reserve accumulation target” due to economic impact of drought; Decision paves way for new tranche of US$5.3 billion in the near future. The International Monetary Fund (IMF) announced Monday that … Read more

Argentina Peso

Argentina to swap peso debt to ease US$35-billion default fear

Argentina will give investors the chance to exchange holdings of local debt into new bonds in a bid to ease fears of a default on the government’s US$35 billion of local debt coming due in the second quarter. Economy Minister Sergio Massa said the government would offer investors two swap options to exchange local bonds … Read more

Dolár Vino

‘Dolár Malbec’: Argentina plans new exchange rate for wine producers

New ‘wine dollar’ set to join country’s alphabet soup of parallel exchange rates, confirms Sergio Massa; Measure set to kick in April 1, with value set to be defined in next 20 days. Argentina’s government is drawing up plans to introduce the so-called ‘Dolár Malbec’ – yet another specialist exchange rate, this time aimed at … Read more

Argentina Inflation

Analysts say Argentina’s inflation will overshoot government targets

Private estimates agree that prices are likely to rise 20% in the first quarter of 2022, with inflation set to accelerate next month, pushing Sergio Massa’s stated 3% target for April way out of reach. Food prices in Argentina shot up again in February, overheating the consumer price index and pushing the national government further … Read more

Argentina World Cup Win

Not even a World Cup win can save Argentina’s economy from decline

Argentina’s economy contracted more than expected in December even after the country won its much-celebrated third World Cup title, confirming the view that the nation will likely enter recession later this year. Economic activity declined one percent in December from November, the fourth straight month of declines, according to government data published Thursday. From a year … Read more