News of default

IMF CREDIT-LINE

Fernández says he won't seek remaining US$11 billion from IMF

26-11-2019 19:29 President-elect says he will not seek disbursement of the remaining US$11 billion of Argentina's record US$57-billion credit-line with the International Monetary Fund.

BLOOMBERG

Fernández planning simultaneous debt talk with IMF and private bondholders

26-11-2019 13:24 President-elect's team believes holding simultaneous debt negotiations with private bondholders and the IMF will smooth the way for a better deal.

UNITED NATIONS

UN warns it may default on salaries by November

09-10-2019 11:35 Argentina among countries that have yet to pay their 2019 dues, says UN Secretary General António Guterres, as he warns of a cash crisis.

Bloomberg

Government says it has met targets to receive more IMF money

30-09-2019 17:58 “Argentina, as I’ve said many times, has complied with all targets required for this disbursement to happen,” says Central Bank chief Guido Sandleris.

BLOOMBERG

Lagarde: IMF did 'best we could' given Argentina's 'difficult situation'

25-09-2019 12:55 Former IMF managing director and soon-to-be European Central Bank chief says the IMF is often unfairly blamed when things go awry.

IMF CREDIT-LINE

IMF: We will continue to support Argentina in its 'difficult situation'

24-09-2019 20:31 IMF acting chief David Lipton said he had "a constructive meeting" with President Mauricio Macri, Finance Minister Hernán Lacunza and Central Bank Governor Guido Sandleris in New York on the sidelines of the United Nations General Assembly.

CREDIT-LINE

IMF likely to withhold loan tranche for Argentina until policy fog lifts

15-09-2019 08:31 Next US$5.4 billion disbursement is scheduled for on or after Sunday, but IMF will postpone until greater clarity appears over likely policy landscape moving forward.

IMF CREDIT-LINE

Reports: IMF to delay Argentina's next loan tranche until after election

13-09-2019 13:39 Local and international outlets says officials evaluating how to push the next US$5.4-billion tranche back, with IMF prepared to adopt "all possible bureaucratic measures" to "stretch deadlines as much as possible."

BLOOMBERG

The US$15 billion of distressed provincial bonds that no-one is talking about

04-09-2019 09:13 Argentina's provinces were among the most prolific issuers when international capital markets reopened to Argentina. By offering interest rates in excess of 9%, they were able to lure yield-hungry investors to little known and sparsely populated corners of the country.

BUENOS AIRES CITY

Bank queues return to BA as currency controls kick in

03-09-2019 08:03 Queues outside banks seen once again outside branches, as Argentines get used to new capital controls.

CURRENCY CONTROLS

Lacunza: Currency controls 'necessary to avoid greater evils'

02-09-2019 08:52 "It is an uncomfortable measure for us that Argentina has already had," declares finance minister, who describes new restrictions as "transitory."

Turbulence

The campaign or the nation?

31-08-2019 01:30 Argentina’s ninth debt default in its history is but one more stain in an already tarnished reputation.

by Agustino Fontevecchia

BLOOMBERG

Carmen Reinhart: Full Argentine default is just a matter of time

29-08-2019 13:58 Harvard University economist Carmen Reinhart – who was also deputy director of the IMF’s research department during Argentina’s 2001 crisis – says the government’s re-profiling plan is already a default on domestic debt, which rating companies will likely promptly respond to.

ECONOMIC INDICATORS

Peso continues to fall, despite plan to delay debt payment

29-08-2019 12:50 National currency traded at the opening at 62.33 per US dollar, which marks a depreciation of almost 3.5 percent compared to Wednesday.

Bloomberg

Government seeks to extend maturity of US$101 billion of debt

28-08-2019 22:38 Macri administration to postpone US$7 billion of payments on short-term local notes held by institutional investors this year and will seek the “voluntary reprofiling‘’ of US$50 billion of longer-term debt. It will also start talks over the repayment of US$44 billion it has received from the IMF.

ECONOMIC INDICATORS

Peso slumps to 60 per dollar, country risk rating hits 14-year high

28-08-2019 15:57 Currency has slumped against the dollar again over the last few days, just as tensions between the government and the opposition have picked up.

THE COST OF CRISIS

Argentines continue to pay the price of economic meltdowns

17-08-2019 11:14 While investors, creditors and businesspeople lament the potential departure of Mauricio Macri, many voters – hit by spiralling inflation and the economic downturn – are nostalgic for the days of Cristina Fernández de Kirchner and her late husband.

by Lucas Robinson

PASO FALL-OUT

Alberto Fernández: 'Two-thirds of the population rejected the government'

13-08-2019 14:39 In a wide-ranging exclusive interview with NET TV, Frente de Todos presidential candidate detailed his views on the economy, Roberto Lavagna, 'la grieta,' his relationship with CFK and Venezuela.