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IMF to Reopen Office in Argentina
The International Monetary Fund said it has decided to reopen an office in Argentina, 6 years after leaving. The decision came days after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.
140 Qatari Businessmen Visited Argentina with New Investments
The emir of Qatar, Hamad bin Khalifa Al Thani visited Buenos Aires with a delegation of 140 officials and businessmen willing to pay an important amount of funds to invest in the country and give a hand to the Government in these moments of economic uncertainty.
Argentina reach us$57.1 billion deal with the IMF
Argentina has agreed a us$57.1 B deal with the International Monetary Fund (IMF) designed to stabilise its economy. The new IMF agreement boosts the total funding available from the fund by us$7.1 B and frontloads financing, increasing available resources by us$19 B through the end of 2019. The funding provided through the agreement would be used by Argentina for budget support. Finance Minister Nicolás Dujovne is "confident" and says that "this time the great countries of the world have decided to support us".
Dollars deposits in Argentine Banks are growing back
The exchange rate tension that accelerated in the last days of August had generated distrust in many savers, fed in chains of WhatsApp and some publications in networks that stoked a supposed return of the corralito and called to retire the deposits in dollars of the banking system.
Goldman Fund Buys Turkey, Argentina Debt, Says Rout Overdone
Goldman Sachs Asset Management is buying Turkish and Argentinian government debt as it bets on the worst-performing emerging markets to offer some of the more profitable bond trades this year.
Argentina's currency crisis a boon for foreign tourists
Buenos Aires (AFP) - Argentines may be feeling the pinch of their country's economic woes, but for tourists, the troubled peso is proving a holiday boon. Brazilian Pedro Perreira de Azevedo has been rubbing his hands in delight after his family holiday, with his wife and three children, turned out cheaper than expected. "We'd planned a budget of 7,000 reais (around $1,700) but in the end we've spent between 3,000-3,500," said Perreira de Azevedo, while his family took pictures outside the Argentine presidential palace. When they arrived from Belo Horizonte in the east of Brazil on September 5, the peso had just lost 20 percent of its value in the wake of President Mauricio Macri announcing Argentina would ask the International Monetary Fund to advance a $35 billion loan to help prop up an economy in crisis.
Argentina: 7 airlines will invest us$ 1.5 B to expand operations with 792 new routes
The devaluation that the Argentine peso has had so far this year reconfigured the future of the tourism industry and the higher income of foreign tourists accelerates their plans. In this scenario, Andes Airlines, Avianca, Baires Fly, Flybondi, Grupo Lasa, Jetsmart and Latam welcome the increase in international tourism, and have requested 792 new domestic routes (32%) and international routes (68%), a true record compared to the 156 required 2 years ago and 503 last year.
Norwegian Announces 6 New Domestic Argentinian Routes
Back in August of 2018, it was announced that Norwegian would be expanding into the Argentinian domestic market, launching their own subsidiary airline and planning to smash the legacy airlines located in the country to bring ultra-cheap travel to locals.
Argentina confident about new deal with IMF, peso rises
BUENOS AIRES/WASHINGTON (Reuters) - Argentina’s economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF’s board.
Trump offers 'strong support' to Macri during 'trying time' for Argentina
US President Donald Trump has offered his "strong support" to Argentina, branding the Latin American country's crisis a "trying time," following a phone conversation with President Mauricio Maci this morning. President Macri had a 15-minute conversation with his US counterpart this morning as the Argentine leader’s economic team heads to Washington for key talks with International Monetary Fund (IMF) officials.