BLOOMBERG Banco Galicia CEO: Inflation will keep battering banking returns 19-02-2021 12:42 Argentine banks took a beating last year, and the nation’s biggest lender says the industry is at risk of a repeat performance.
Argentine-born banker JP Morgan's Aguzin named Hong Kong stock exchange's CEO 09-02-2021 16:54 Argentine-born banker Nicolás Aguzin appointed Hong Kong Stock Exchange's new chief executive, at a time when Beijing is clashing with Western powers over its campaign to stamp out dissent in the financial hub.
ECONOMIC INDICATORS Argentina posts first trade deficit since 2018 after port strike 27-01-2021 11:08 Country recorded a trade deficit of US$364 million in December, government data published Tuesday showed. While imports grew 25% in annual terms driven by an economic recovery, exports slumped by 34%.
AGRO TENSIONS Amid tension, Farming groups call three-day halt to grain trading 09-01-2021 07:37 Three-day stoppage next week called by three of four main agricultural groups to protest suspension of maize exports.
FINANCIAL TURMOIL Economy Ministry to halt Central Bank advances until end of 2020 03-11-2020 12:53 Economy Ministry says it will not ask the Central Bank for temporary advances of cash in November and December and would target local capital markets for financing instead.
BLOOMBERG Creditors blast Argentina for post-restructuring bond blow-up 22-10-2020 22:22 Argentina Exchange Bondholders group and the Argentina Creditor Committee rip government for mismanaging the economy, saying country is headed for disaster just seven weeks after restructuring US$65 billion in debt.
IN FOCUS Economy Ministry takes steps to relieve pressure on currency markets 21-10-2020 18:59 Economy Ministry unveils new measures designed to reduce the pressures on volatile currency markets and ward off devaluation.
Exchange rate Fernández says no devaluation of peso on the way 14-10-2020 08:09 Argentina’s government is not going to devalue the peso, President Alberto Fernández said Tuesday night amid widespread speculation on the issue.
Financial turmoil Fernández: Currency market is messy, it needs order 11-10-2020 17:22 In the wide-ranging interview with El Cohete a la Luna, president says Argentina's currency market is messy and must be “ordered.”
BUSINESS Currency controls hit private companies in Argentina 10-10-2020 10:11 Capital controls were already a headache for private companies, but more drastic measures obliging firms to restructure their debts has delivered an even harder blow.
BLOOMBERG Argentina’s currency woes show no sign of easing 10-10-2020 08:31 Argentina’s hodge podge exchange rate regime is running out of steam.
Economic policy Government cuts reduces key export taxes for agriculture, mining 02-10-2020 11:09 Government to reduce export taxes on several key commodities over the next three months, in an effort to boost dollar inflows as Central Bank reserves decline.
Bloomberg Government to devalue peso faster while it fights reserves drop 01-10-2020 23:09 The Central Bank will end a policy of “uniform devaluation” and allow greater volatility, according to a statement sent by the institution led by Miguel Pesce after hours Thursday.
BLOOMBERG YPF leads Argentina corporate bond rout on new forex limits 16-09-2020 23:27 Corporate bonds from Argentina posted their biggest decline in six months on Wednesday as a new round of capital controls and government restrictions on access to dollars threatened to provoke a wave of defaults.
CURRENCY CONTROLS Central Bank tightens currency controls as peso weakens 16-09-2020 10:29 Central Bank tightens conditions for the purchase of foreign currency, to prevent hoarding, preserve reserves and discourage demand for US dollars.
Bloomberg Argentines are abandoning a trade that hedged currency risk 14-09-2020 16:02 Dollar-linked instruments in the local market are being abandoned amid speculation government will create a weaker parallel exchange rate while giving investors less favourable terms.
ECONOMIC POLICY Central Bank optimistic over post-bond swap future 25-08-2020 19:20 Central Bank Governor Miguel Ángel Pesce says closure of the debt swap deal would relieve pressures on exchange markets and improve economic expectations.
DEBT RESTRUCTURING Government files official debt offer with SEC, extends deadline 17-08-2020 14:50 Amended debt restructuring offer filed with US Securities and Exchange Commission, extending deadline for investors to accept until August 28.
Bloomberg Negative-yielding corporate bonds are all the rage in Argentina 30-07-2020 14:21 Argentine companies issued a record US$596 million of dollar-linked bonds domestically in the past two months, and about a third now pay negative yields. Investors, nevertheless, are lapping them up.
UK LAWSUIT Argentina loses bid to throw out US$738-million hedge-fund lawsuit 21-07-2020 22:45 Argentina has lost an attempt to dismiss a UK lawsuit filed by four hedge funds alleging that the country manipulated economic data to avoid making payments for securities linked to its growth.
DEBT RESTRUCTURING Debt deal at impasse as creditors unite to reject government's offer 20-07-2020 23:50 Three groups of creditors announce they have rejected Argentina's proposal to restructure US$66 billion of debt and delivered a counter offer to government – which President Alberto Fernández promptly dismisses out of hand.
Bloomberg Creditors join forces to demand better terms on debt deal 20-07-2020 21:54 Three largest creditor groups join forces in negotiations, rejecting government's "final" offer and submitting their own counter proposal.
BLOOMBERG Argentina would ease currency controls if debt talks are successful 29-05-2020 14:56 Central Bank leaders implemented new controls Thursday night, restricting companies’ access to the foreign exchange market to pay for obligations overseas in dollars or other currencies.
Bloomberg Unofficial exchange rate slumps as printing presses warm up 14-04-2020 15:51 Argentina's unofficial exchange rate dropped on Monday after President Alberto Fernandez indicated the country may be preparing to turn on the printing presses to revive the economy.
LATAM MARKETS LatAm stock exchanges suffer new plunge over coronavirus 12-03-2020 22:36 Argentina's main stock exchange crashed by nearly 10 percent on Thursday as markets continued to panic, while falls also recorded in Chile, Colombia and Brazil.
Bloomberg Brazil's Central Bank will intervene 'as long as needed' to support real 09-03-2020 13:49 The Brazilian Central Bank pledged to support its tumbling currency with all instruments and for as long as needed just as it stepped heavily into the spot market for the first time this year.
RATE CUT Central Bank cuts interest rate to 38% 06-03-2020 08:00 In its statement, the Central Bank’s committee said cooling prices justified the rate cut but that the economy wasn’t in the clear yet.
RATE CUT Central Bank lowers key rate to 40%, extending cuts 19-02-2020 18:15 Central Bank chief Miguel Pesce justifies the rate cuts as a tool to help turn around Argentina’s economy, which is expected to contract for the third straight year in 2020.
RATE CUT Central Bank cuts key interest rate for fifth time since December 10 30-01-2020 21:29 Rate floor cut to 48 percent on Thursday from 50 percent. Central bank chief Miguel Pesce has lowered it from 63 percent since taking office December 10.
MIGUEL PESCE INTERVIEW Miguel Pesce: Central Bank will try to cut rates, slow inflation 09-01-2020 12:46 New Central Bank chief refuses to make inflation forecasts, saying he wants to rebuild the institution’s credibility “with results.”
CAPITAL CONTROLS ‘Strict’ foreign-exchange controls to stay in place, says Kulfas 05-01-2020 08:26 “In the current context, strict exchange rate regulations are inevitable,” says production minister
ECONOMIC INDICATORS BA stock exchange soars as economic measures kick in 26-12-2019 21:50 The Buenos Aires stock exchange rose by almost six percent on Thursday as a package of economic reforms came into effect in Argentina.
TRANSITION 2019 Sandleris confirms resignation as Central Bank chief 05-12-2019 06:58 Central Bank chief confirms he will resign post ahead of December 10 handover. Argentina's monetary institution has had 61 presidents in the 84 years since its founding.
PESO SLUMPS Chile's Central Bank to inject US$4 billion to halt curency slide 14-11-2019 11:05 Chile's currency closed at a new record low for the second day running on Wednesday after losing another 1.5 percent amidst a weeks-long crisis.
bloomberg Argentine bonds sink to 36 cents as Fernández stays mum 13-11-2019 17:43 Investors are seeking definition and signs Argentina will do everything to avoid default. But president-elect Alberto Fernández still hasn't detailed his plans.
ECONOMIC INDICATORS Central Bank alters 2019 forecasts: 3% drop in GDP, inflation at 55.6% 05-11-2019 14:15 Monthly survey carried out by Central Bank downgrades forecasts for Argentina's economy.
BLOOMBERG - OPINION Eduardo Levy-Yeyati: Argentina's narrow path to common ground 01-11-2019 07:30 Economist and author Eduardo Levy-Yeyati says Alberto Fernández has a chance to fix Argentina's deep-seated economic problems — if he acts quickly.
CURRENCY CONTROLS Central Bank tightens 'cepo,' sets US$50 limit on cash advances abroad 31-10-2019 22:10 The move comes three days after the Central Bank sharply tightened currency exchange controls to stem a surge in capital flight.
BLOOMBERG Argentines pull dollar deposits from banks before Sunday vote 25-10-2019 15:09 Central Bank’s reserves have sunk US$2.2 billion this week alone, and while part of that is to pay government debt and comes from large corporations, retail transactions have surged.
EXCHANGE MARKETS Tensions in exchange markets intensify ahead of election 24-10-2019 14:29 Peso selling at 62 per US dollar on official markets, reaching as high as 69 per greenback in Córdoba.
BLOOMBERG Markets: Here’s what to watch after Argentines vote on Sunday 24-10-2019 13:34 With frontrunner Alberto Fernández in pole position, the question is how much support the new government will get in Congress and how conciliatory he may prove to market-friendly incumbent Mauricio Macri.
BLOOMBERG Third Point blames Argentina bet for biggest third-quarter loss 24-10-2019 12:27 Hedge fund says it miscalculated and failed "to anticipate the extent of Macri’s loss in the primary election."
CENTRAL BANK Sandleris asks for 'basic consensus' to ensure Argentina grows 16-10-2019 08:29 "If we manage to build basic consensus, our economy can leave behind instability and crisis, so that we can begin to grow steadily and begin to lower inflation," declares Central Bank chief.
BLOOMBERG Stock and bond trading decimated in once red-hot Argentina 07-10-2019 16:59 Assets under management at local banks and brokerages have plummeted 25% since the primaries. Stock trading has fallen by half, and local bond volume is down by two-thirds.
BLOOMBERG With controls in place, Central Bank cuts 85% rate, buys dollars 18-09-2019 14:08 Institution's move to choke off dollars hands peso some breathing room, with Central Bank buying dollars for first time in seven months.
BLOOMBERG Argentine corporate bond funds stuck in limbo after controls 13-09-2019 10:15 Argentina unveiled a series of capital controls at the start of this month as President Mauricio Macri responded to a plunging peso draining government reserves after his poor showing in a presidential primary vote.
BLOOMBERG Argentines make 7% returns in minutes thanks to capital controls 10-09-2019 11:19 One system to circumvent the controls is paying a return of seven percent in a matter of minutes, and it’s completely legal. The profit derives from the difference between the so-called “MEP dollar” – which entails buying and selling bonds in different currencies – and the official exchange rate.
Bloomberg Argentine bondholders pull out old guidebook to flee country 08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”
Bloomberg MercadoLibre makes Argentina home to best bond in emerging markets 06-09-2019 08:01 A convertible note from MercadoLibre Inc., the Buenos Aires-based e-commerce company with operations across Latin America, has trounced its peers with a 72 percent return this year. That’s the best performance in all of emerging markets.
ECONOMIC INDICATORS New Central Bank survey predicts 55% inflation in 2019 04-09-2019 09:46 GDP anticipated to contract by 2.5% this year, survey of economists and consultancy firms reveals.