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Central Bank rules out increasing interest rates for the foreseeable future, even as currency pressures mount and annual inflation climbs above 50%.
A measure allowing Argentina’s commercial banks to move part of their reserve requirements from Central Bank notes to treasury bonds is raising concerns about inflation and the financial system’s health.
Prices in Argentina are seen rising 50.2% over the next 12 months, according to the University of Torcuato di Tella’s monthly poll of citizens.
Share this News People wait to receive food outside the Biblioteca Parque Estadual in downtown Rio de Janeiro. | Dado Galdieri/Bloomberg The Covid-19 pandemic has sent a wave of poverty racing across Latin America, deepening declines that began over the past decade and consigning millions to lives of deprivation. The world’s most unequal region saw 22 million people — the equivalent of everyone in New York state — join the ranks of the poor from 2019 to 2020, unable to meet basic needs. In all, about one-third of Latin America’s roughly 600 million residents live in poverty or wh...
Back home, Fernandez’s populist vice president took to the microphone to make one thing clear. “We can’t pay because we don’t have the money,” said Cristina Fernandez de Kirchner, who held the nation’s top job from 2007 to 2015. The IMF’s terms are “unacceptable.” READ MORE: Argentina Can’t Repay IMF $45 Billion, Vice President Says It was a telling moment. When Fernandez, 62, took office in the final days of 2019, he presented himself as pragmatic. True, he’d briefly been Kirchner’s chief of staff within the Peronist left but he accepted a role for capitalism and woul...