Economy Minister Sergio Massa has lashed out at the International Monetary Fund (IMF), indicating in two interviews over the weekend that the country had made a series of difficult political decisions and was seeing little goodwill in return. “Argentina complied with its program, but the Monetary Fund is …
Inflation in Argentina spiked to 94.8% during 2022 according to the official statistics institute, the INDEC. Last year’s figure was the highest since 1990, a time when hyperinflation drove prices up by 2,314%. Last month’s inflation was 5.1%, a 0.2% increase from November (when it was 4.9%), but …
The heads of the Argentine and Chinese central banks confirmed the activation of the currency swap the two countries signed last November. The president of Argentina’s central bank, Miguel Pesce, met with the governor of the People’s Bank of China, Yi Gang, in the Swiss city of Basel. …
The Economy Ministry refinanced its maturities for the first three months of 2023 from AR$4.3 trillion to AR$1.41 trillion in what it considered a “successful” debt swap. The swap, which was offered on December 29 and due Tuesday, had an adherence of 67.2%. The Finance Department highlighted the …
Last Thursday, the Economy Ministry announced a debt swap, or “conversion”, due today, with the goal of postponing bonds maturing in the first quarter of 2023. The initial offer, made for holders of eight bonds, consisted of two different “bond batches”: one made up of LEDES with maturities …
The Economy Ministry passed its last financial test of the year this Wednesday, successfully placing bonds for AR$326.61 billion. The auction means the government ended 2023 with net financing of AR$700 billion. The financial instrument menu was made up of three bonds: the “Lelite”, with a January maturity …
The informal or “blue” dollar has skyrocketed to a record-breaking AR$359, its highest nominal value ever recorded. The Economy Ministry believes the leap is being driven by demand from small savers buying greenbacks in preparation for the upcoming tax amnesty, as well as seasonal demand. The current value …
On December 15th, Visa started to process card transactions made by foreign visitors to the country at the preferential “tourist dollar” exchange rate, officially launched by the central bank on November 4.
