As Argentina reopens to international travellers, those who visit will find their dollars or euros go a long way. When the government shut borders in March 2020, one US dollar was worth around 60 pesos – now it’s around 140 pesos.  Argentina is currently among the five countries in the world with the lowest cost … Read more

Even in Argentina, a country whose very name has become synonymous with financial crisis, the current moment is dire. With inflation hurtling toward triple digits and, economists say, just a policy mistake or two away from setting the stage for hyperinflation, the central bank is desperately trying to avert a peso devaluation that would only … Read more

Argentina’s Economy Minister Sergio Massa pledged Wednesday night to stop printing money that helps fuel runaway inflation, outlining his strategy to turn around the country’s deepening crisis. Massa rolled out his economic road map after being sworn in by President Alberto Fernández as the third such minister in a month. Massa’s measures also focused on … Read more

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

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