News of martin guzman

Argentina’s IMF deal is just one hurdle to Massa’s presidential bid

01-08-2023 16:17 Sergio Massa's IMF deal may offer hope for his presidential ambitions, but the divided opposition and economic challenges pose significant hurdles in the upcoming primaries and elections in Argentina.

INTERVIEW / PERIODISMO PURO

Martín Guzmán: ‘Abandoning the currency never did anybody any good’

10-06-2023 06:27 Argentina’s former economy minister on tackling inflation, unifying the exchange rate regime, the IMF debt deal he negotiated and what happens after the October election.

by Jorge Fontevecchia

POLITICS & ECONOMY

One year ago, Alberto Fernandez declared war on inflation. He lost.

15-03-2023 16:35 On March 15, 2022, with a monthly rate of 4.7%, Argentina’s President Alberto Fernández declared that a “war on inflation” had begun. Twelve months on, price hikes are running above 6% every month, with an annualised rate standing at 102.5%.

CABINET RESHUFFLE

President reshuffles his pack with ‘militant women’

14-10-2022 09:23 Raquel Olmos takes on Labour portfolio, Victoria Tolosa Paz to helm Social Development Ministry, Ayelén Mazzina becomes Women, Gender & Diversity minister.

BLOOMBERG – ANALYSIS

Argentina’s political crisis restarts with ministers leaving

10-10-2022 16:14 Cabinet shake-up, with three ministers departing in as many days, is the latest episode of Argentina’s ongoing political crisis.

opinion and analysis

Blame the rich

19-08-2022 17:31 Weirdly enough it seems that several of the major constituents of the Frente de Todos have acknowledged that, at least for the time being, they are all in the same boat. And that boat appears adrift at sea.

by Agustino Fontevecchia

Economic Indicators

Inflation hit 7.4% in July – highest monthly rate since April 2002

11-08-2022 19:11 Official data reveals prices in Argentina up 71% over the last 12 months; prices have surged by 46.2% so far this year according to INDEC.

RUNAWAY PRICE HIKES

Analysts estimate inflation could surpass 90% this year

10-08-2022 23:09 Annual inflation moves ever closer to three digits amid widespread changes at Argentina’s Economy Ministry.

Cabinet Reshuffle

New economy minister vows to respect IMF deficit deal

04-08-2022 18:36 Sergio Massa, Argentina’s third new economy minister in a month, promised to reduce public deficit, as agreed with the IMF, after he was sworn into office.

Cabinet Reshuffle

Argentina’s new economy czar sworn in

03-08-2022 17:34 Sergio Massa takes over as the country’s third economy chief in the last month

Cabinet Reshuffle

‘Super’ economy minister faces mounting crisis ahead

01-08-2022 14:10 Following days of uncertainty during the absence of then Economy Minister Silvina Batakis in Washington, the cabinet changes under study by President Alberto Fernández since midweek started falling into place soon after her return Thursday with Congress Speaker Sergio Massa the new “super-minister.”

Argentine Government

Argentina Names Third Economy Minister in a Month Amid Crisis

28-07-2022 19:55 Sergio Massa is the new economy minister, in an expanded role. The former lower house speaker takes over from Silvina Batakis, who held office for only three weeks.

Politics

Sergio Massa made “super-minister” in cabinet reshuffle

28-07-2022 18:33 The economy, productive development and agriculture, livestock and fishery ministries will be absorbed under one role.

Argentina Protests

Argentine protesters demand universal living wage

28-07-2022 18:17 Central Buenos Aires saw a crowd of demonstrators calling for a “universal salary” this Thursday as heads roll in cabinet reshuffle.

Bloomberg

Argentina’s bonds rise amid reports of a cabinet shakeup

28-07-2022 15:34 The markets have responded favourably to rumours Economy Minister Silvina Batakis could be replaced by lower house speaker Sergio Massa, which was reported by local media late Wednesday night.

Bloomberg

Argentina Economy Minister says she has strong political support

27-07-2022 15:55 New Economy Minister for Argentina Silvina Batakis tells Washington reporters she will stabilise economy, claiming strong political support from the government.

Bloomberg

IMF sees Argentina committed to programme, with downside risks

26-07-2022 13:27 Officials re-iterate Argentina’s commitment to IMF $44 billion programme, despite economy in deepening crisis and risks on the downside.

Bloomberg

Argentina unveils currency measures as black-market peso slumps

21-07-2022 19:28 Foreign tourists can exchange up to US$5,000 in a new exchange rate revealed by the government, which is attempting to perk up the currency after a slump for the ‘dólar blue'

Bloomberg

Argentina’s black-market peso hits record as crisis mounts

20-07-2022 15:31 The unofficial Argentine peso has dropped to a historic low this Tuesday, which has exacerbated the crisis provoked by the resignation of former Economy minister Martín Guzmán earlier this month.

ECONOMIC CRISIS

Inflation hits 64% year-on-year, analysts fear worse yet to come

14-07-2022 19:05 No respite from price hikes in Argentina: Inflation hit 5.3% in June, increases totalled 36.2% in first half of this year.

BLOOMBERG - ANALYSIS

Inflation hit 30-year high ahead of Guzmán's exit

14-07-2022 18:11 Consumer prices in Argentina rose at the fastest pace in more than three decades in June, with worse expected after the economy minister quit this month.

BLOOMBERG - ANALYSIS

Argentines brace for 90% inflation after economy minister’s exit

14-07-2022 09:18 Consulting firms in Buenos Aires are predicting that Argentines face the prospect of 90% inflation by year end.

ANALYSIS

Argentina’s economic signals need stronger backing, analysts say

13-07-2022 12:28 Analysts say moderate, prudent policy signals that Economy Minister Silvina Batakis announced Monday lack political support, face execution risks and won’t fix the country’s structural problems.

Markets

Argentine debt plumbs new depths as political tensions mount

11-07-2022 15:43 Even by the standards of Argentina’s debt crisis and default of 2020, the nation’s sovereign bonds are now trading at unprecedented lows.

BLOOMBERG - ANALYSIS

Argentina needs to stick to IMF agreement, says minister

11-07-2022 15:32 In her first press conference, Silvina Batakis said Argentina would continue working to balance its fiscal accounts, promote positive real interest rates, and move forward with reducing energy subsidies.

And that reminds me…

From Gooseman to Batgirl?

09-07-2022 07:30 Recommended to President Fernández as having “the necessary dose of heterodoxy and the indispensable dose of orthodoxy,” Guzmán was eventually found wanting on both counts with the latter front more fatal.

by Michael Soltys

POLITICS

The capitulation of Martín Guzmán and the struggle of Sergio Massa

09-07-2022 07:30 After a weekend of fury, a newly reconfigured power structure has been put in place that promises to keep us on our toes, with the vice-president continuing to gain territory.

by Agustino Fontevecchia

EDITORIAL

Leaps in the dark

09-07-2022 06:00 Always subordinating economic policy to electoral strategy in classic populist style, Cristina Fernández de Kirchner seems convinced that a 2023 election irretrievably lost with Martín Guzmán’s IMF orientation can be turned around with an extreme transformation.

Another week in Argentina

Resignation, transition, succession: Inside Guzmán's last days and Batakis' first

08-07-2022 09:48 The economy minister’s decision to step down, the reaction to it and how the government found a replacement – inside a momentous week in Argentina.

by Juan Luis González

OPINION

Last supper with Guzmán

08-07-2022 09:38 Guzmán backed the laws which increased taxes but not those increasing spending … to reduce or not to reduce the deficit is the question separating the vice-president and the ex-minister.

by Jorge Fontevecchia

THE CHALLENGES AHEAD

New minister Batakis takes office in an Argentina full of uncertainty

07-07-2022 23:34 Silvina Batakis faces a number of key challenges and decisions; Issues like inflation, the IMF deal, the fiscal deficit and subsidies top her in-tray.

IMF DEBT DEAL

IMF ‘looking forward’ to working with Batakis at ‘difficult moment’

07-07-2022 16:06 New economy minister speaks with multilateral lender’s chief Kristalina Georgieva, who says Batakis confirmed her “commitment” to IMF refinancing programme.

DEBT TALKS

Paris Club requires Argentina stick to IMF deal to rework debt

07-07-2022 14:20 Paris Club group of wealthy creditors says government must give assurances that it will comply with IMF deal if talks over restructuring of debt are to continue.

BLOOMBERG - ANALYSIS

Argentina's subsidy cuts mired in doubt under new minister

06-07-2022 22:14 Several analysts insist that a question mark hangs over Silvina Batakis’ commitment to spending cuts penned by Martín Guzmán and the IMF.

FINANCIAL TURBULENCE

Argentina's bonds, currency plunge on Batakis' first day in office

05-07-2022 17:04 Argentina’s global bonds fell the most since they were issued nearly two years ago as Silvina Batakis assumes office.

NEW MINISTER SWORN-IN

Batakis sends message to markets as she’s sworn-in as economy minister

04-07-2022 22:17 Argentina’s new economy minister Silvina Batakis says she believes in “fiscal balance” and says Argentina needs “more exports” and to “revalue our currency.” Vowing to talk to the IMF soon, she says that the government's segmentation plan to alter subsidies for public utilities will continue.

Bloomberg

Batakis takes reins of Argentina’s economy as markets tumble

04-07-2022 21:34 Silvina Batakis declares that she "believes in fiscal balance" as she is sworn-in as economy minister.

Economic crisis

Markets react negatively to change of economy minister

04-07-2022 17:30 The peso depreciated sharply against the dollar in the informal market on Monday as investors reacted to the appointment of Silvina Batakis as economy minister.

BLOOMBERG

Argentina’s black market peso sinks on economy minister shake-up

04-07-2022 14:16 Argentina’s black market exchange rate tumbled on Monday after left-leaning economist Silvina Batakis was appointed as the new economy minister.

New minister named

Fernández and CFK chose Silvina Batakis as Argentina's new economy minister

03-07-2022 22:55 After lengthy negotiations at the Olivos presidential residence, President Alberto Fernández appoints Silvina Batakis to replace Martín Guzmán, who resigned amid a crisis in the ruling Frente de Todos coalition.

POLITICS & ECONOMY

Fernández taps Batakis as economy minister to tackle crisis

03-07-2022 22:38 President Alberto Fernández taps Silvina Batakis as the country’s new economy minister to replace Martīn Guzmán, who resigned his post a day earlier.

ANALYSIS

Cristina achieves her goal: sacking Alberto's economic team

03-07-2022 09:41 In recent weeks, the pressure bearing down on Martín Guzmán had intensified – both from the markets and from the Kirchnerite wing of the government.

MARKETS

Argentines seek hedging in crypto after minister resigns

02-07-2022 22:59 Moves on crypto markets could indicate unease over the growing rift within the ruling coalition and concern over the government’s ability to tackle rising inflation and other economic challenges.

ANALYSIS

Guzmán resigns as coalition divisions grow

02-07-2022 22:55 Shake-up raises doubts over whether Argentina can comply with a US$44-billion IMF programme, whose goals and objectives for the second half are seen by private economists view as too challenging to reach.

PROFILE

Martín Guzmán: the debt negotiator who fell with Argentina's economy

02-07-2022 22:48 A leading disciple of Nobel Prize-winning economics laureate Joseph Stiglitz, 39-year-old Martín Guzmán lacked experience in government when he joined President Alberto Fernández's Cabinet in December 2019.

POLITICS & ECONOMY

Economy Minister Martín Guzmán resigns from government

02-07-2022 22:37 Official posts lengthy resignation letter addressed to President Alberto Fernández on social networks; Announcement came as Vice-President Cristina Fernández de Kirchner was giving speech in Ensenada.

POLITICS

The Last Albertistas

01-07-2022 09:55 Who are President Alberto Fernández's last remaining soldiers in the Cabinet?

by Rodis Recalt

Bloomberg

Government meets June debt rollover goal in key local auction

28-06-2022 21:48 Government sells enough securities to roll over its debt coming due in the month of June in a local debt auction, easing concerns of an immediate financing shortfall.

DEBT SWAP

Guzmán surprises markets with last-minute debt bond swap

23-06-2022 00:00 Economy Ministry eases 60% of June debt burden in local swap, drastically reducing pressure on the government; Government makes US$2.7-billion payment to IMF.