News of pesos

The virus

Coronavirus exhaustion

16-05-2020 07:37 The pesos being injected into the system – an emergency tool that few have questioned domestically and abroad – haven’t purely been used to finance direct consumption of basic goods and services such as food, or absorbed into peso-denominated assets. As is the norm in Argentina, they have found their way into US dollars.

by Agustino Fontevecchia

Pandemic fight

‘Homeland tax’ plan proposed to finance fight against coronavirus

08-04-2020 08:38 Unionist wing of Frente de Todos coalition proposes one-time levy for Argentines who have assets of more than 10 million pesos in bid to boost coffers for fight against coronavirus. Government does not support move at present.

Fight against virus

Crisis lending surges as government obliges banks to assist

02-04-2020 16:47 Credit lending is making a comeback in Argentina as the country seeks to flood its streets with pesos to mitigate the effects of the coronavirus.

Coronavirus pandemic

Government to grant 10,000-peso allowance to soften virus impact

24-03-2020 14:30 Officials announce delivery of 10,000 pesos in April in a single payment to self-employed in both A and B categories and to informal workers, benefitting around 3.6 million households.

Price increases

Inflation in February came in at 2%, the lowest in two years

12-03-2020 17:16 Prices increases slow to slowest in the last two years, according to INDEC. Inflation in last 12 months now totals 50.3%.

Bloomberg

Creditors offered bond swap ahead of key peso debt payment

04-03-2020 16:04 Argentina offers investors a swap that debt for new bonds maturing in 2019, in a move that could allow the government to avoid increasing money supply.

PESOS v DOLLARS

Dollars under the mattress: Argentina's preferred way of saving

01-03-2020 20:15 Hit it by decades of inflation, recessions and cyclical devaluations, many Argentines prefer to take refuge in the dollar as a way of saving and hide their money "under the mattress."

THIS SUNDAY

Central Bank confirms it's the end for Argentina's five-peso bill

27-02-2020 17:14 Time's up for Mr San Martín: 5 peso bill goes out of circulation this Sunday, February 29, Central Bank confirms.

NEW STUDY

Average wage fell 44.3% in dollar terms under Macri government, says study

20-02-2020 07:30 New report finds there has been a collapse of the average income in dollar terms since 2015, dropping from US$1,385 to just US$771 in four years.

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.”

ECONOMIC CRISIS

Dying becomes a luxury as economic downturn hits home

06-01-2020 23:20 The cost of buying, renting and maintaining graves and tombs is so high that many in Argentina are opting to cremate their loved ones instead.

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

Bloomberg

Investors stuck in Argentina rush to local corporate bond market

11-10-2019 10:34 Foreign investors are starting to flock to Argentina’s usually sleepy local corporate-bond market, desperate to reinvest cash stuck in the country due to recently imposed capital controls.

BLOOMBERG

Argentines shift money into short-term deposits ahead of election

03-10-2019 18:46 As the presidential vote draws closer, savers are increasingly choosing short-term instruments for their deposits.

SALARIES

Government, firms, unions agree one-off payment for private-sector workers

24-09-2019 09:45 Parties "agree mandatory salary payment of 5,000 pesos for private-sector workers," announces production and labour minister.