DEBT SWAP OFFER Government hails ‘success’ of 4.34-trillion local debt swap 10-03-2023 10:52 Argentina swaps 4.34 trillion pesos ($21.66 billion) in domestic debt, exchanging 64% of maturing notes for new ones due in 2024 and 2025.
POLITICS & ECONOMY Opposition slams government’s plans for peso debt swap 06-03-2023 14:41 Opposition economists slam impending peso debt swap between the government and local banks, saying it will add to the fiscal problems facing next administration in December.
JOINT CURRENCY PLAN Brazil and Argentina are discussing whether to combine currencies 23-01-2023 09:31 Argentina and Brazil are in the preliminary stages of renewing discussions on forming a common currency for financial and commercial transactions, the leaders of the two nations reveal.
Bloomberg Banks need more vault space to store piles of pesos 19-01-2023 03:02 Peso bills are depreciating so quickly that banks are running out of space to store bank notes.
EXCHANGE MARKET Argentina’s black-market peso slumps to record ahead of holidays 29-12-2022 15:33 Argentina's black market exchange rate plunged to a record low this week, with the blue dollar hitting 357 pesos per greenback.
OPINION 2022: the errors of the economists 29-12-2022 02:31 The time has come to do what economists find so uncomfortable and what I find so useful: the annual balance sheet of predictions by Gustavo González
INTEREST RATES Central Bank poised to hold the key rate at 75% into next year 30-11-2022 08:34 Central Bank tracking suggests monthly inflation could slow to about 5.5% in November, down from 6.3% in October.
FOREIGN POLICY & DIPLOMACY Argentina says China will increase swap line by US$5 billion 15-11-2022 21:36 China will increase its currency swap programme with Argentina by 35 billion yuan (US$5 billion), President Alberto Fernández tells reporters.
ECONOMY & POLITICS Government creates new exchange rate for provincial economies 07-11-2022 17:13 Economy Minister Sergio Massa says government will create new temporary exchange rate for provincial economies.
CURRENCY WOES Tourists pay with wads of cash as inflation nears 100% 27-10-2022 16:04 Paying with cash is becoming increasingly cumbersome in Argentina as inflation gallops toward 100%.
Bloomberg Argentina must aim to let the peso float, says Rodríguez Larreta 21-10-2022 14:04 Buenos Aires City Mayor Rodriguez Larreta speaks in an interview; Opposition leader says economic strategy needs political accord first.
CURRENCY CONTROLS Qatar and Coldplay: Argentina multiplies its exchange rates 13-10-2022 01:43 The 'dólar Catar' and 'dólar Coldplay' were added to Argentina's exchange control jargon on Wednesday.
NEW MEASURES New taxes slapped on concerts, spending on cards overseas 12-10-2022 16:04 Aiming to "protect reserves for production and job creation,” the National Government introduces new levies to discourage purchases in dollars with debit and credit cards; New measures affect foreign currency purchases in excess of US$300, trips abroad and luxury goods.
economy Central Bank hikes interest rates to 75% as inflation nears 100% 15-09-2022 23:17 Central Bank boosts benchmark Leliq rate by 5.5 percentage points to 75% in a bid to prop up its currency and curb inflation.
INTEREST RATES Central Bank set to hike rates again on price spike 01-09-2022 01:54 Central Bank set to increase benchmark Leliq rate again next month as annual inflation rises above 70%.
increasing debt 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.
CENTRAL BANK Argentina raises key interest rate to 69.5% in biggest hike since 2019 11-08-2022 16:40 Argentina’s Central Bank raises benchmark Leliq rate in largest hike in almost three years, signalling a more aggressive stance against surging inflation.
Bloomberg Argentina is running out of cash to stave off devaluation 02-08-2022 18:10 Argentina teeters on the precipice of severe financial crisis. Peso devaluation looms, with potential for hyperinflation.
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.
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.
Currency crisis The fateful 30th month of the Fernández-Fernández administration 02-07-2022 07:00 President Alberto Fernández has been hit by a crippling run on the peso that has stretched out over several weeks during the 30th month of his Presidency, as an exhausted economic model has failed to generate confidence and Central Bank reserves. by Agustino Fontevecchia
LIVING WITH CRISIS Argentina remains hooked on ‘dollar-dependence’ 30-06-2022 00:37 Argentines do their accounts in dollars, traumatised by recurrent economic crises and tormented by the inflation that is eating away at their pockets and is projected to exceed 60% this year.
BLOOMBERG – ANALYSIS Three signs show that Argentina is heading to a devaluation 29-06-2022 22:02 Need to increase the monetary base to meet payments on peso debts and finance spending, plus a drop in agricultural exports and an increase in energy imports, all spell trouble for Argentina's currency.
Finance & Markets 'Blue dollar' continues to rise amid financial turbulence 28-06-2022 17:46 Parallel dollar quoted at 239 for sale, reaching 242 in some provinces; Country risk soars to record high.
MONETARY POLICY Argentina raises benchmark rate to 52% as inflation stays hot 16-06-2022 16:54 Central Bank raises benchmark interest rate for the sixth time this year as the government struggles to cool inflation expectations.
Banknotes Pesos get political with new bills featuring ‘national heroes and heroines’ 25-05-2022 15:27 President Alberto Fernández’s government moves to replace endangered wildlife designs introduced by Mauricio Macri administration with historical icons; Three women among those to feature on new banknotes, including Juana Azurduy and Maria Remedios del Valle.
AND THAT REMINDS ME… The maybes of May 14-05-2022 00:01 Today’s anniversary is nowhere in the current agenda with plenty of issues to absorb our attention, yet stopping to recall the Menem years would not go amiss. by Michael Soltys
CENTRAL BANK Argentina's Central Bank raises key rate to 44.5% as inflation heats up 23-03-2022 15:42 Central Bank raises benchmark rate for the third time this year as inflation continues to speed up.
BLOOMBERG Argentina’s Central Bank raises key rate to 42.5% 18-02-2022 03:00 Second rate hike this year; IMF staff have called for interest rates in Argentina to exceed annual inflation.
ECONOMIC INDICATORS Inflation reached 3.9% in January, lifting annual rate to 50.7% 15-02-2022 22:08 Consumer prices rose 3.9% in January as inflation accelerated for a second straight month, the INDEC national statistics bureau reported on Wednesday.
BLOOMBERG – ANALYSIS Inflation accelerates for second straight month 15-02-2022 21:55 Argentina’s inflation accelerated for the second consecutive month in January as the Central Bank sped up the pace of its controlled currency devaluations.
ECONOMIC INDICATORS Peso weakens against dollar in parallel exchange markets 26-01-2022 18:34 Argentina's currency depreciated even further on parallel foreign exchange markets on Wednesday, hitting a record 221 pesos per US dollar.
BLOOMBERG Argentina asks China to expand yuan swap to strengthen reserves 26-01-2022 13:48 Argentina has already requested the increase and the topic will be discussed next week in Beijing with Chinese President Xi Jinping when President Alberto Fernández travels there for the Winter Olympics, a second person said.
BLOOMBERG Central Bank hikes rate for first time in a year 07-01-2022 01:41 Argentina raised its benchmark interest rate for the first time in over a year as it faces calls from the International Monetary Fund to tighten its monetary policy.
BLOOMBERG Argentina pitches its weak currency to attract digital nomads 02-12-2021 14:08 To make up for lost tourism, Buenos Aires wants international remote workers to take advantage of favourable exchange rates.
FINANCIAL TURBULENCE Central Bank reserves at the limit as rumours swirl around Argentina 30-11-2021 21:40 Ecolatina consultancy firm forecasts that Central Bank reserves could end the year lower than in December 2020. Concerns remain about the level of money available to the BCRA, but economists rule out a potential 'corralito.' by Brenda Funes
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.
EXCHANGE CONTROLS Argentina tightens exchange controls to curb outflows of dollars 26-11-2021 03:06 Argentina’s Central Bank publishes two new measures intended to curb access to hard currency amid expectations for a devaluation.
BLOOMBERG Dollar-strapped Argentina eyes help from record grain exports 24-11-2021 17:17 Argentina's bumper wheat and barley crops and high prices are on track to give the government some breathing room with the peso.
FINANCIAL TURBULENCE Blue dollar takes a breather after week of turbulence 12-11-2021 22:04 The so-called ‘Blue Dollar’ fell to 202 pesos per greenback on the last business day before the elections.
Finance & Markets Currency turbulence continues in lead-up to midterms 10-11-2021 22:49 Argentina's currency fell sharply on Wednesday in unofficial exchanges, with the so-called 'blue dollar' selling at an all-time high of 205 pesos.
BLOOMBERG Argentina will let foreign tourists bring in dollars at a lucrative rate 29-10-2021 15:02 Foreigners travelling to Argentina will be able to exchange up to US$5,000 to pesos at the more lucrative MEP (Medio Electrónico de Pagos) rate using a temporary bank account, according to new Central Bank rules.
ECONOMY MINISTER Martín Guzmán: ‘There will be no devaluation’ 25-10-2021 11:02 Argentina’s economy minister plays down rumours of an upcoming devaluation, declares that record US$57-billion IMF credit-line was “a political loan” that helped finance Mauricio Macri’s re-election campaign.
CURRENCY Pre-election jitters send blue dollar, country risk rate soaring 22-10-2021 21:56 Peso weakens in parallel and informal exchange rates, sending JP Morgan ‘country risk’ rate soaring.
BLOOMBERG – ANALYSIS Argentina's peso weakens past key level in parallel market 22-10-2021 19:01 Argentina’s parallel exchange rate weakened past a key threshold on Friday, as demand for assets in hard currency climbed ahead of the upcoming midterm elections in November.
BLOOMBERG – ANALYSIS Argentines are desperate for dollars as bets on devaluation soar 21-10-2021 14:31 Argentine investors are growing increasingly pessimistic on the peso, betting it’s inevitable the government will be forced to speed up devaluation after November elections.
BUDGET 2022 Argentina's 2022 Budget sees primary deficit falling to 3.3% 16-09-2021 10:24 Budget bill, presented to the Chamber of Deputies just before midnight on Wednesday, forecasts inflation reaching 33% in 2022.
GUEST VOICE The challenge of reducing the gap between exchange rates 04-09-2021 10:39 Continuing the current chasm is a recipe threatening economic revival and halting investments. by Miguel Kiguel
IMF BOOST IMF’s special drawing rights gives boost to Central Bank reserves 23-08-2021 21:42 International Monetary Fund boost of special drawing rights lifts Argentina's Central Bank reserves to highest amount in almost three years.