One of Argentina’s last remaining international creditors hinted that it won’t approve new funding until the government gets its house in order, raising the risk of further isolating the nation financially. Mauricio Claver-Carone, president of the Inter-American Development Bank, published a letter in the Wall Street Journal Monday laying out the bank’s concerns. “Argentina’s tumultuous financial … Read more
Argentina unveiled a slew of currency measures for foreign tourists, importers and local companies that aim to shore up the currency amid a month-long slump in the country’s unofficial exchange rates. Importers of strategic sectors in the economy will have more access to dollars, the government said in a statement Thursday, as it seeks to … Read more
Foreign Analysts do not see a bright future ahead for Argentina’s economy. While some place it among the countries most likely to default its debt, others fear it might not survive a new adjustment to the basic interest rates by the United States. According to a Reuters report, five countries (Lebanon, Sri Lanka, Russia, Suriname, … Read more
Argentina’s Central Bank held its benchmark interest rate at 52%, even as inflation accelerated to its fastest pace in 30 years, and set a reference range for monetary policy. The decision by the bank’s board came on Thursday after yields at the latest Treasury note auction rose by as much as 400 basis points to 63.5 percent … Read more
The Government of Argentina has adjusted the so-called PAIS tax from 35% to 45% as of Thursday to equate the exchange rate between the local currency and the US dollar to that existing in the unofficial “blue dollar” market. Argentines making payments with credit cards in US dollars either abroad or for streaming services such … Read more