Argentina
UK’s Royal Mint to supply 150 million Argentinian peso blanks
The UK’s Royal Mint will ship coins, along with equipment, to Argentinian mint, where engineers will help with the final design stamping
IMF’s Werner: Latin America must keep debt under control
Western hemisphere chief says there are some concerning signs on debt, although the risk of a systemic crisis is low; region well placed to weather Fed shock
BIS paper says macro-pru is better when partnered with monetary policy
Macro-pru does not work as well when it acts as a substitute for monetary policy when dampening credit cycles; when deployed as the main instrument, policies prove very successful even in the short term
Chile’s Marcel praises Argentine reforms
IMFC chairman says reforms have “paid off”, helping the country re-enter the global economic stage; lifting of capital controls and export restrictions will contribute to Argentina’s growth in 2017
Brazil central bank steps up pace of rate cuts
Inflation outlook “favourable” with target likely to be achieved by 2018; government pursuing tough fiscal reform
Argentina’s central bank reverses course on interest rates
Central bank hikes rate on its 35-day Lebac bonds to 26.25% on the back of higher-than-expected inflation figures
Central Bank of Argentina makes third cut in three weeks
Central bank cuts rate on its 35-day Lebac bonds to 25.25%, with analysts expecting further cuts to come as the institution begins transition to new monetary policy instrument
IMF praises Argentinian central bank for proposed changes to monetary policy framework
IMF encouraged by Argentina’s progress but says more effort required to strengthen monetary policy framework, including granting central bank operational independence
IMF lifts censure on Argentinian inflation
Inflation and GDP figures now in line with international standards, fund acknowledges; Lagarde praises Argentinian authority’s efforts to reform statistical agency
Is the Central Bank of Argentina back?
The Central Bank of Argentina’s new governor, Federico Sturzenegger, has made strong progress in tackling runaway inflation and reversing the country’s monetary decline. But many challenges remain
New high for reserves a sign of 'growing confidence' in Argentina – Sturzenegger
Reserves breach $40 billion mark after treasury bond sale and climbing export levels; contribution from overseas investment starting to be felt, government says
IMF praises Argentina’s new statistical rigour
Fund pleased with progress made reforming statistics but there is still work to be done; IMF willing to provide “technical assistance”
More work needed to make case for GDP-linked bonds – BoE paper
The design of GDP-linked bonds needs to align macroeconomic need with investor demand, according to a paper authored for the G20 summit; clearer guidelines and principles could aid adoption
Argentinian central bank removes $5m dollar conversion cap
New measures aim to make it easier for businesses to acquire dollars; bank removes cap on dollar conversion and reduces paperwork involved
Argentina releases first inflation data following statistics overhaul
Prices for transportation, food and housing drive up inflation, which rose 4.2% in May; IMF reviews progress next month
Hungarian central bank plans offices in New York, Buenos Aires and Beirut
Hungarian central bank formally opens Paris office; bank also runs Hamburg and Rome offices and plans to open more in New York, Buenos Aires and Beirut
Debt deal struck but ‘heated’ discussions await Argentine president in congress
Vulture funds satisfied but Argentine president faces an ‘uphill’ battle getting deal through congress; analysts ultimately expect it to be approved, but see other challenges on the horizon
Snapshot: IMF reveals staff views on Argentina
IMF releases informal briefings compiled 2013-2015 in absence of Article IV; staff highlighted adverse effects of central bank and banking sector financing of government
IMF to publish informal briefings on Argentina
Staff compile informal briefings on countries when they fail to complete Article IV consultations; IMF will grant request from Argentina to publish those produced 2013-2015
Argentina inches towards repaying debt
Montreux Partners LP and EM Ltd settle; four creditors yet to agree on removing injunction
Argentina to issue three new banknote denominations
Top-value 100-peso note to be eclipsed by new currency; 200- and 500-peso notes will launch in first half of 2016, with 1000 peso note following in 2017
Peso down almost 30% as Argentina lifts capital controls
Capital controls lifted allowing greater access to foreign exchange; peso slides by 29% against the US dollar as markets open
Argentine governor resigns following criticism by new president
The governor of the Central Bank of Argentina resigns ahead of the inauguration of Mauricio Macri as president; likely to be succeeded by nominee Federico Sturzenegger
Argentina’s president elect aims to dismantle complex capital controls
‘Macri-economics’ could consist of unwinding capital controls, boosting export competitiveness and unifying exchange rates, but it will be a challenge, observers say