News of economy

Strong US dollar an unstoppable force endangering other currencies

30-09-2022 14:19 The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a severe currency crash that could reverberate around the world. 

Henrique Meirelles: ‘Whether the president-elect is Lula or Bolsonaro, they face a difficult situation’

30-09-2022 09:32 Brazil's former economy minister and Central Bank governor Henrique Meirelles on the challenges facing his country, Lula’s run for office and whether Jair Bolsonaro is a threat to democracy.

by Jorge Fontevecchia

Poverty remains above pre-pandemic level in early 2022

29-09-2022 02:00 Argentina's poverty rate remained above pre-pandemic levels in the first half of this year as high inflation eroded benefits of country's economic recovery.

British pound collapse erodes international trust in UK

28-09-2022 23:41 The UK thought it had the trust of markets — until it didn’t. Now homeowners and businesses will likely have to pay the price.

Economy stalled as inflation spiked in July

26-09-2022 17:30 Argentina’s economy plateaued in July as an inflation spike caused by political volatility paralysed some sectors.

OECD: World economy to slow, 'paying the price of war'

26-09-2022 15:33 OECD reduces Argentina's growth forecast for 2023 by 1.5 points, predicting an expansion of 0.4% next year. Outlook for this year remains unchanged, with estimated growth of 3.6%.

Drought, soaring fertiliser costs push Argentine farmers to grow more soy

22-09-2022 11:13 Farmers are grappling with a third straight year of withering drought ahead of the growing season, but this year they have a new strategy to beat it: plant soybeans. 

China scoops up cheaper Argentina soybeans as US harvest begins

21-09-2022 15:20 China, the world's biggest soybean importer, has greatly increased purchases from Argentina, just as US farmers begin to harvest their crop.

IMF agrees second Argentina loan review, backs US$3.9B payment

19-09-2022 14:33 Multilateral lender reaches staff-level agreement with Argentina over second review, praises "decisive" steps taken by Economy Minister Sergio Massa; Once approved by Fund's executive board, deal paves way for release of US$3.9 billion in funds.

What do the Kirchnerites think of Massa?

16-09-2022 16:13 Why is Economy Minister Sergio Massa allowed to do what Martín Guzmán wasn’t? And furthermore, is the ex-Tigre mayor doing enough?

by Agustino Fontevecchia

Cash-strapped Argentina goes all or nothing on new economy chief

15-09-2022 15:55 New ‘super’ minister has undoubted political clout and scored early wins in Washington – but Sergio Massa’s presidential ambitions depend on avoiding economic meltdown

Inflation is upending politics in the most unequal region on Earth

15-09-2022 02:22 In Latin America, persistent high inflation is widening the gap between rich and poor in what is already the world’s most unequal region.

Soy exporters race to exploit new ‘soy dollar’ exchange rate

07-09-2022 17:21 More than two million tons cashed in the first two days of Sergio Massa’s new scheme to boost Central Bank reserves.

IDB agrees to loan Argentina US$5 billion over this year and next

07-09-2022 12:17 After what appears to be a resetting of the relationship, the Inter-American Development Bank on Tuesday agreed to loan some US$5 billion to Argentina in 2022 and 2023.

Government creates new foreign exchange rate for soy exporters

05-09-2022 08:29 Argentina's government announces new special exchange rate for the country’s soy producers in a bid to incentivise exports and shore up Central Bank reserves.

Thick as BRICS

03-09-2022 15:41 If the question of why Argentina should wish to join BRICS is extremely valid, so is the question of why BRICS should want to have us.

by Michael Soltys

China steps up soybean buying from US, Brazil, Argentina

01-09-2022 01:49 China is stepping up soybean imports to meet rising demand ahead of a seasonally strong period for consumption.

Peso crisis imperils coffee supplies in famed cafes of Argentina

30-08-2022 15:47 An escalating currency crisis is threatening a touchstone of Buenos Aires life: coffee.

Yachts, whiskey, bull semen land on Argentina’s import blacklist

28-08-2022 09:47 New restrictions on imports form part of the government’s frantic attempt to stabilise currency and curb inflation.

Debt has grown almost US$3 billion a month for last year

26-08-2022 11:11 Last month, the gross debt in a situation of normal payment rose to US$378.307 billion – around US$17 billion more than at the start of the year and US$35.747 billion more than July last year. In other words, the current fiscal deficit is close to three percent of gross domestic product, far from the targets pledged to the International Monetary Fund (IMF), whose review will begin in a few weeks. To meet them, the Central Bank would have to recover almost US$6 billion of reserves by December.