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
Argentina’s runaway inflation rate stole the headlines once again this week when the INDEC statistics bureau revealed that consumer prices rose at the fastest pace in more than three decades in June. Prices jumped 5.3 percent last month, fractionally up on May’s 5.1 percent and making for an annual inflation of 64 percent, according to … Read more
Argentines face the prospect of 90 percent inflation by year end after the economy minister’s exit triggered overnight price rises and the Central Bank comes under pressure to let the peso depreciate more rapidly. That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and … Read more
On Sunday morning, Argentines woke up early and rushed to the grocery store, the bakery, the liquor store, the mall, wherever they could go to stock up fast. The night before a political bombshell had dropped: the economy minister, Martín Guzmán, had suddenly resigned. And Argentines, long accustomed to financial chaos, knew the current crisis … Read more
Argentina’s global bonds fell the most since they were issued nearly two years ago after the country named left-leaning policy maker Silvina Batakis as its new economy minister. Sovereign dollar bonds dropped as much as four cents on the dollar, with some notes dipping below 20 cents on the dollar by midday in Buenos Aires. … Read more