Argentina

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Argentina Names New Central Bank Chief as Peso's Plummet Worsens

Argentina’s central bank is getting a new chief after the monetary authority failed to stop the peso’s plunge despite obtaining the biggest loan in the history of the International Monetary Fund, Bloomberg News reported. Luis Caputo, previously the finan ...

Daily Headline - global.abi.org - 06/15/2018 - 00:27 - 0 comments

Argentina’s IMF Package Could Trigger Ugly Blowback

Markets welcomed the International Monetary Fund’s (IMF) $50 billion rescue stabilization package last week, which seems to be stabilizing the peso. But the financial umbrella will be costly, a Bloomberg View reported. Rightly or wrongly, Argentines blam ...

Daily Headline - global.abi.org - 06/13/2018 - 23:49 - 0 comments

Argentina and the IMF Step In to Stop a Crisis

If you are going to go, go big, and get on with it. This advice applies widely, if not universally. Certainly it fits economic interventions. Argentina and the IMF, thankfully, have followed it. The IMF’s financing deal for Argentina, a country facing a ...

Daily Headline - global.abi.org - 06/10/2018 - 22:08 - 0 comments

Argentina Agrees $50 Billion Financing Deal with IMF

The International Monetary Fund came to Argentina’s rescue on Thursday with a standby arrangement worth $50bn over three years, far more than envisaged by markets which are expected to welcome the move. The loan is subject to approval from the IMF board, ...

Daily Headline - global.abi.org - 06/08/2018 - 00:09 - 0 comments

IMF Begins Work on Bailout for Argentina, With a U.S. Blessing

The International Monetary Fund moved on Friday to formally begin negotiations on a bailout of Argentina, without any objection from the Trump administration, The Wall Street Journal reported. The crisis in Argentina has prompted the U.S. to once aga ...

Daily Headline - global.abi.org - 05/21/2018 - 00:09 - 0 comments

Hasenstab Bets Big on Argentina in Another Risky Move

Bond fund managers often scoff at the big racy bets of equity investors, preferring the sweet sensation of a steady, diversified stream of coupon payments being made on time, the Financial Times reported. Michael Hasenstab is not like most bond inves ...

Daily Headline - global.abi.org - 05/17/2018 - 23:18 - 0 comments

Argentina Peso Tumbles to New Low Despite IMF Talks

The pressure on the Argentine peso showed no sign of letting up on Friday, with the currency sinking to a new low even after the country bit the bullet and turned to the IMF for help in stabilising the economy, the Financial Times reported. The peso ...

Daily Headline - global.abi.org - 05/14/2018 - 00:54 - 0 comments

Argentina’s Plea for IMF Help is a Reminder of Global Fragility

A year ago, Argentina was the darling of global investors. So much so that, when it issued a pioneering 100-year bond, with a yield of just 7.9 per cent, investors gobbled it up — ignoring the fact that the country has defaulted eight times in the past 2 ...

Daily Headline - global.abi.org - 05/11/2018 - 00:46 - 0 comments

Argentina Says It Is Seeking Traditional IMF Bailout

Argentina is seeking a “stand-by arrangement” with the International Monetary Fund, according to the government, signalling its willingness to sign up to one of the organisation’s traditional economic adjustment programmes — complete with potentially pol ...

Daily Headline - global.abi.org - 05/09/2018 - 22:16 - 0 comments

World's Highest Rate Fuels Argentine Corporate Debt Distress

Count Argentina’s smaller companies among the victims of the three surprise interest-rate increases that are rippling through the economy, according to Federico Mac Dougall of First Corporate Finance Advisors SA, Bloomberg News reported. Mac Dougall, the ...

Daily Headline - global.abi.org - 05/08/2018 - 23:18 - 0 comments

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