Argentina

A way out for Argentina

ARTICLE - The currency board cannot survive much longer. Ricardo Hausmann says it is time for a radical alternative.

Argentina seeks support for debt plan

ARGENTINA - Argentina was yesterday, Monday, scrambling to build international support for its planned debt restructuring, details of which are expected in the coming days.

Argentina draws up debt-swap plan

ARGENTINA - Argentina is preparing a new debt exchange aimed at easing its heavy interest burden, amid a raging debate as to whether the plan would in fact constitute a default.

S&P cuts Argentina's credit rating, bonds fall

ARGENTINA - Standard & Poor's on Tuesday 9 October cut Argentina's long-term sovereign credit rating to sit deep within junk bond territory, saying the government faces severe challenges in balancing its budget.

IMF says cash to reserves, Argentina decides use

ARGENTINA - The International Monetary Fund reiterated on 22 August that the money Argentina will receive under its new $8 billion program will go to central bank reserves, but it is then up to the country to decide how to use it.

IMF News Brief

REPORT - A news release from the International Monetary Fund, 21 August, detailing the recommend addition of US$8 billion to Argentina's stand-by credit.

Argentina pays workers in bonds

ARGENTINA - As Argentina's talks with the International Monetary Fund (IMF) drag on - with still no word on whether the country will get a much-needed aid package - the situation at home is getting worse.

Cavallo aide pleads for patience on IMF

ARGENTINA - Market expectations on the speed of talks between Argentina and the International Monetary Fund on an expected multibillion-dollar aid package are "a bit exaggerated," an aide to Economy Minister Domingo Cavallo told local radio on 16 August.

Argentine contagion has not spread far says IMF

ARGENTINA - Financial distress in Argentina and Turkey has failed to spread to emerging markets in general despite a bleak outlook for investors, according to the International Monetary Fund, reports the Financial Times, London, 9 August.

Argentina looks to $6bn IMF loan

ARGENTINA - Argentine officials are confident of winning support for a new loan of $6bn or more from the International Monetary Fund to help the country contain the crisis of confidence engulfing its economy.

Argentina's Blejer to become central bank VP

ARGENTINA - Mario Blejer, a former International Monetary Fund economist and top aide to Economy Minister Domingo Cavallo, will become vice president of the country's Central Bank, an official at the monetary authority confirmed on 2 August.

Emerging markets - round up the usual suspects

CENTRALBANKNET'S SPECIAL REPORT - A little local difficulty or the beginning of a global shake-down? First Turkey, then Argentina - next stop Brazil? Or south-east Asia? The omens are not good as emerging markets from Poland to Pretoria feel the effect…

IMF Fischer stresses Turkey econ program on track

US - The International Monetary Fund signalled the beginning of a new public relations campaign to relieve market pressure on Turkey 13 July, with the Fund's second-ranked executive declaring investors aren't giving Ankara enough credit for the reforms…

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