Argentina’s growth will slow to 2% in 2023 from 4.6% in 2022, according to the International Monetary Fund (IMF) World Economic Outlook update, published yesterday. The previous forecast, published in October 2022, had predicted 4% growth for last year. Quoting the Russian war against Ukraine and its consequences, …
Argentines are increasingly looking to stablecoins as a way of saving in the face of government exchange restrictions, a report by Americas Market Intelligence (AMI) revealed. Cryptocurrencies allow users to save without hoarding stacks of the greenback under their mattresses – but experts warn that many of these …
The Central Bank has once again enabled banks to place peso investments in Mutual Funds, after a surprise rate hike that aimed to contain dollar prices sparked controversy this week. This way, the BCRA gave a hand to banks, as interest rates were outdated and they were starting …
Prosecutor Ramiro González today asked judge María Eugenia Capuchetti to order the lifting of sovereign bond purchasers’ stock market secrecy, amid the investigation of possible leaks of information regarding the debt buyback announced last week. The measure will reach individuals and stock brokers who bought bonds that are …
According to data released by the National Statistics Institute (INDEC) this week, economic activity showed signs of cooling off in the last part of 2022, as it contracted in November for the third consecutive month in the seasonally adjusted series. In any case, according to private projections, the …
The Argentine market regulation office (CNV) is seeking to expand its current information exchange agreement with its American counterpart, the SEC, sources inside the CNV told the Herald. After the opposition raised suspicions regarding a potential leak of information regarding the US$1 billion sovereign debt buyback announced last …
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 …
