News of credit

Alejandro Werner: ‘Trump would’ve backed Fernández and Biden would’ve Macri’

02-09-2023 06:17 Former Western Hemisphere director for the International Monetary Fund and ex-Mexico government official Alejandro Werner on Argentina’s programme, political backing from Washington and the country’s troubled relationship with the multilateral lender.

by Jorge Fontevecchia

ECONOMY MINISTER ABROAD

Massa’s trip to Brazil ends without deal on exports to Argentina

29-08-2023 10:00 Brazil had proposed using yuan reserves to guarantee payment; Haddad surprised by agenda unilateraly released by Massa.

Living with inflation

Spend now, worry later: no point saving in inflation-stricken Argentina

15-06-2023 15:04 Packed restaurants, long lines outside the theatre, concerts that sell out in hours – Argentines with purchasing power are responding with a frenzy of consumption in the face of soaring inflation.

Alberto in Brazil

Argentina and Brazil mull trade credit lines bypassing US dollar

03-05-2023 16:38 Over 200 Brazilian firms eye exporting in reais, not dollars; Lines would lift exports to Argentina amid its currency crisis.

NAZI ACCOUNTS PROBE

Credit Suisse accused of hindering probe into Nazi accounts

19-04-2023 10:13 Credit Suisse accused of impeding an investigation into its historical assistance to Nazis that had revealed a number of previously undisclosed accounts, including 99 allegedly linked to German officials or Nazi-affiliated groups in Argentina.

Bloomberg

Argentina's credit rating cut by Fitch on public-sector debt swap

24-03-2023 19:09 Argentina's credit rating has been downgraded by Fitch Ratings to the lowest level above default as the government plans to force state institutions to dispose of their holdings of dollar-denominated bonds.

Venezuela Economy

Maduro says Venezuela's economy grew 15% in 2022

13-01-2023 12:10 With informal dollarisation and easing of controls, Venezuela's economy has now recorded five quarters of growth between 2021 and 2022 after years of recession and hyperinflation.

DEBT DEAL

IMF board approves US$6 billion in fresh funds for Argentina

23-12-2022 00:50 International Monetary Fund announces that its board of directors has signed off on third review of Argentina's debt assistance programme and releases new US$6-billion disbursement of funds.

EXCHANGE MARKET

Argentina’s elaborate ploy to lure tourists has begun

21-12-2022 16:55 In a bid to boost tourism dollars in Argentina, the government is allowing travellers access to an exchange rate that nearly doubles their purchasing power.

CURRENCY CONTROLS

Argentina lets tourists tap parallel FX rate to bring in dollars

03-11-2022 12:53 Foreign tourists who use non-Argentine issued credit and debit cards will be charged a more lucrative financial exchange rate known in Spanish as the ‘Dólar MEP’ (Mercado Electrónico de Pagos).

IMF DEBT DEAL

Congress greenlights debt deal – ball now in IMF’s court

18-03-2022 21:46 US$45-billion agreement signed into law by president; Deal now needs approval by IMF’s Executive Board.

BRAZILIAN ECONOMY

Brazilian families slammed by debt, inflation

06-01-2022 12:04 Even though 2021 had been anticipated as the year of economic recovery in Brazil, high inflation and the complications derived from the pandemic, are forcing Brazilians to get more and more into debt, despite the rising interest rates.

INTERNATIONAL MONETARY FUND

IMF report concludes 2018 loan ‘did not deliver on its objectives’

23-12-2021 14:09 IMF concludes record US$57-billion 2018 credit-line for Argentina, the largest in the multilateral lender’s history, “did not deliver on its objectives.”

'ex-post evaluation'

IMF says Argentina capital flow measures needed with 2018 deal

22-12-2021 22:10 IMF concludes record US$56-billion 2018 programme for Argentina didn’t succeed “in improving confidence” and was “fragile from its inception” despite the size of the loan.

IMF DEBT TALKS

Argentina and the IMF: still bound in a love-hate relationship

21-12-2021 14:52 Argentina has long had a stormy relationship with the International Monetary Fund. Twenty years after a deep economic, political and social crisis shook the country, the nation is again traversing a tense financial patch.

IMF DEBT

Upcoming IMF report assessing 2018 loan promises to stir up local politics

03-12-2021 21:56 IMF’s board set to discuss report reviewing the record stand-by programme worth US$57 billion granted to the Mauricio Macri government.

IMF DEBT TALKS

Argentine officials travel to Washington for IMF talks

02-12-2021 16:15 A technical mission team with officials from Argentina's Economy Ministry and Central Bank will travel to Washington on Saturday to meet with representatives from the International Monetary Fund.

NEW CENTRAL BANK RESTRICTIONS

Kulfas defends new rules: ‘Middle class has many options for the summer’

28-11-2021 09:08 Productive Development Minister Matías Kulfas becomes the latest government minister to take to the airwaves to defend new Central Bank rules on credit card purchases in dollars.

FINANCIAL TURBULENCE

Government: New restrictions to protect reserves are ‘temporary’

26-11-2021 22:41 Presidential Spokesperson Gabriela Cerruti slams opposition "fear-mongering" following introduction of new Central Bank rules on credit card purchases.

IMF DEBT

Argentina makes US$390-million interest payment to IMF

05-11-2021 01:53 Argentina made a payment of US$390 million Monday to the International Monetary Fund for interest on a US$44-billion loan it is seeking to renegotiate, the government said.

G20 & COP26 SUMMITS

Argentina offers its creditors climate action instead of money

05-11-2021 01:48 Argentina is pushing for a new way to service debt: instead of paying creditors with cash, it wants them to recognise the country’s efforts to tackle climate change.

BLOOMBERG

IMF rejected Argentina’s request for temporary surcharges relief

11-10-2021 18:00 The International Monetary Fund’s board of directors turned down a request by Argentina to discuss relief on the commissions the country pays for its record loan.