Argentina’s central bank offered its Leliq note, which is used as the benchmark interest rate, at a rate of 60%, representing an 800 basis-point increase and the largest hike in almost three years. The rate increase was communicated to traders through the local Siopel trading system, according to people with direct knowledge of the matter … Read more
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