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Argentina government: IMF had wanted "100%" peso devaluation

Argentina's government said on Thursday that major creditor the International Monetary Fund (IMF) had originally wanted a "100%" devaluation of the country's embattled peso currency, before the two sides agreed to a correction of 18% made earlier this week. The comments, made by a government spokeswoman after similar ones by Economy Minister Sergio Massa, underscore rising pressure on the peso, which was devalued and pegged at 350 per dollar on Monday, though trades nearer 8...
Buenos Aires Distrito Federal Javier Milei Eliana Raszewski Lucila Sigal Sergio Massa
Source: yahoo.com

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BBCNEWS World Business Report June 4, 2024 13:37:00

Now. were changing gears now to talk about an electric car—maker, which you might never have heard of, which has made its stock market debut and already has a higher valuation than ford and general motors. vinfast is based in vietnam. it launched on the nasdaq yesterday and shares skyrocketed. the company is now valued at $85 billion, even though its never made a profit and its only made 11,000 cars in the first half of this year, compared with 900,000 for tesla. david bailey is professor of b...
Car Maker Stock Market Debut General Motors David Bailey Business Economics 85 Billion

Argentine Peso to Slide 70% by Next Year, BofA Says

(Bloomberg) -- The worst is yet to come for the Argentina peso, already the world’s weakest currency this year, according to Bank of America Corp. strategists.Most Read from BloombergHollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End StrikeTycoon’s Fortune Soars $39 Billion on Eyebrow-Raising SPACRussia Calls Emergency Key Rate Meeting as Ruble PlungesChina Shadow Bank Misses Dozens of Payments as Risks GrowRussia’s Emergency Rate Hike Fails to Li...
Buenos Aires Distrito Federal United States David Hauner Javier Milei Jane Brauer
Source: yahoo.com

Argentina Seeks Larger IMF Disbursement After 18% Devaluation

(Bloomberg) -- Argentina intends to ask the International Monetary Fund to increase a disbursement planned for later this month by an unspecified amount, a senior government official said after the central bank was forced to devalue its official exchange rate by 18%.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesOut of Options and Money, Argentina Presses the Panic ButtonTech Giants, Yields Tick Up in Choppy Session: Markets WrapOutsider Milei Upends Argentina&#x...
Sergio Massa Bloomberg Businessweek Alberto Fernandez Javier Milei Argentina Presses The Panic Button International Monetary Fund
Source: yahoo.com

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