Credit ratings agency Moody’s reported that Argentina’s US$1 billion sovereign debt buyback announced last week constitutes “a default under our definition”. The agency called the buyback, which mainly involves two dollar-denominated bonds that mature in 2029 and 2030, a “distressed exchange,” which qualifies as a default according to …
The government is paying US$1.4 billion in interest to the International Monetary Fund (IMF) in the coming days. The interest payment is the last before Argentina resumes technical conversations with the agency’s staff, which are expected to happen in late February and early March. In the talks, the …
Argentina’s government reached a US$540 million deal with development bank CAF for the extension of natural gas pipelines and related infrastructure linked to the country’s Vaca Muerta basin, Economy Minister Sergio Massa announced on Wednesday. The infrastructure plan, expected to be approved in March, aims to boost a …
The rains that have fallen in recent days have brought (some) relief to farmers, especially in the core production zone, which needed to improve its soil moisture profile in order for agricultors to finish the soybean and corn planting work and to facilitate good crop development. But not …
The Central Bank raised the one-day repo rate for mutual funds on Monday, in another attempt to contain the escalation of the parallel exchange rates. According to the Central Bank B12465 resolution, the repo rates for mutual funds will now be 95% of the repo rates for banks, …
Argentina and Brazil will discuss the creation of a common South American currency, their presidents have confirmed. In a joint statement today, President Alberto Fernández and his newly-inaugurated Brazilian counterpart, Luis Inácio Lula da Silva, confirmed that the two countries’ economy ministers are to draw up plans with …
The government is investigating the country’s top ten stock brokers after the opposition reported that information about last Wednesday’s debt buyback had been leaked. Since the announcement, in which Economy Minister Sergio Massa said the country was going to “buy back Argentine foreign debt for over US$1 billion”, …
From November 2023, the Central Bank will allow savers to make payments using money held in fixed-term deposits. The bid to encourage Argentines to save in the national currency comes days after it was announced that inflation hit 94.8% in 2022. From July, users will also be able …
Liaison Board (Mesa de Enlace) leaders have been demanding a meeting with Economy Minister Sergio Massa for weeks, and he will finally see them today at the INTA (National Institute of Agricultural Technology) Experimental Station in the city of San Pedro, in Buenos Aires province. The meeting will …
