EconomyLoop
where regional business news becomes global to everyone

Capital flight from emerging economies will be on the G20 table, anticipate Brazilian sources

At this weekend's G20 meeting in Buenos Aires, finance ministers and central bankers will address the economic situations threatening a number of emerging markets -- including host nation Argentina, which recently secured a US$50 billion IMF loan to ... read more

 Merco PressYesterday

     
Global trade conflicts and protectionism in G20'agenda meeting in Buenos Aires

Global trade conflicts triggered by the protectionist policies of US President Donald Trump are set to dominate this weekend's meeting of Group of 20 finance ministers in Buenos Aires.... read more

 Merco PressYesterday
Argentina betting on a 2018/19 record wheat crop to spur the economy

A record wheat harvest expected in Argentina this year could arrive just in time to jumpstart the ailing country's economy in the fourth quarter, after growth has been hit by low investment, high inflation and a soy crop devastated by drought.... read more

 Merco Press2 days ago
Latin American markets and currencies slide on fears of global trade war

World trade tensions pressured Latin America's major indexes on Thursday, falling in line with other global markets, after the European Union said it was preparing possible retaliatory measures if the United States imposes tariffs on EU cars. Brazil'... read more

 Merco Press2 days ago
Argentina finances improving: half year primary deficit drops to 0.8% of GDP

Argentina posted a primary fiscal deficit of 105.8 billion pesos (US$3.7 billion), or 0.8% of gross domestic product (GDP) in the first half of 2018, government data showed on Thursday, down 26.7% from the same period last year.... read more

 Merco Press2 days ago
Macri offers optimistic forecast of Argentine economy, pledging growth will return next year

Argentina’s economy will return to growth in 2019, President Mauricio Macri said on Wednesday, following a year marked by higher-than-expected inflation and a run on the Peso currency that many economists anticipate will lead to a recession.... read more

 Merco Press3 days ago
Brazilian Real and Argentine Peso lose ground against the dollar

Latin American currencies fell against the dollar across the board on Wednesday as traders continued to focus on recent statements by key U.S. monetary policy makers.... read more

 Merco Press3 days ago
Argentina consumer prices rose 3.7% in June and reach 29.5% in twelve months

Consumer prices rose 3.7% in June in Argentina, official data showed on Tuesday. That brought 12-month inflation to 29.5%, up from 26.3% in the 12 months through May, the INDEC national statistics bureau announced, which makes it the highest monthly ... read more

 Merco Press4 days ago
Argentine football team coach steps down following “mutual consent” with AFA

The Argentine Football Association (AFA) quietly announced that it had parted company with coach Jorge Sampaoli by “mutual consent,” following the national team's poor campaign in Russia.“Today the Argentine Football Association and Jorge Sampaoli ag... read more

 Merco Press4 days ago
Tierra del Fuego infighting over the Malvinas Question Observatory

Last week's meeting in Buenos Aires of the Malvinas Question Observatory from the province of Tierra del Fuego with the Malvinas Department at the Argentine foreign ministry has not been without consequences.... read more

 Merco Press5 days ago
Argentina's debt expected to peak at 65% of GDP by end of 2018

The International Monetary Fund (IMF) expects Argentina’s government debt to peak by the end of 2018 and then fall as the country cuts its deficit as part of its US$50 billion deal with the Fund, according to a document published.... read more

 Merco Press6 days ago
Argentine foreign ministry informs Tierra del Fuego delegation on the current Malvinas policy

Overall the Argentine government is satisfied how relations with the UK regarding the South Atlantic, and Falklands' sovereignty claims are evolving, was the message with which members of the so called Malvinas Question Observatory from Tierra del Fu... read more

 Merco Press6 days ago
FIFA picks Argentine Pitana for World Cup decider

FIFA has picked Argentina's Nestor Pitana to referee Sunday's World Cup final between France and Croatia at Moscow's Luzhniki Stadium.... read more

 Merco Press8 days ago
Argentine town hoists Falkland Islands flag on Independence Day

Ceres residents were shocked to see the main flag during Independence Day celebrations was that of the Falkland Islands. City Hall asks for forgiveness (perdón) via Facebook.... read more

 Merco Press9 days ago
Argentina: Macri grants a 20% salary increase to the Armed Forces

In an effort to fix a persistent deterioration of relations, the President ordered a 20% rise in the salaries of the Armed Forces. It was a political decision against the fiscal austerity measures that the government promised the IMF to deserve a fin... read more

 Merco Press9 days ago
Rio Negro eyes Venezuelan physicians to make up for shortage of health care pros

The Argentine province of Rio Negro is considering Venezuelan doctors as a possible solution to its shortage of health care practicioners despite a substantial wage offer, the large circulation daily Clarin of Buenos Aires reported.... read more

 Merco Press11 days ago
Spanish fishing boat “Dorneda” sunk in Argentine Waters

A Spanish fishing trawler sank in rough weather off Argentina’s coast and at least one crewmember died, Argentina's Navy said Wednesday. Twenty-five crewmembers were rescued and one was missing.... read more

 Merco Press11 days ago
Argentina withdraws reward offer to help find ARA San Juan

The Argentine Government has formalised the withdrawal of the reward offered to anyone who could find or provide meaningful information about the whereabouts of the submarine ARA San Juan, which went missing in the Atlantic Ocean on November 15, 2017... read more

 Merco Press11 days ago
Macri administration relies on dual currency bonds to keep exchange rate stable

Following months of steady devaluation of the Argentine peso against the US dollar, the government of President Mauricio Macri made yet another move Wednesday to stabilise the exchange rate, which nevertheless reversed its downward trend of the past ... read more

 Merco Press11 days ago
Macri admits mistakes and calls for support from governors, unions and business leaders

President Mauricio Macri, First Lady Juliana Awada and members of his cabinet attended on Monday, 9 July, the Argentine Independence Day celebrations in the Tucuman Historic House, where 202 years ago the emerging nation cut all ties as a Spanish col... read more

 Merco Press12 days ago
Argentina's austere Independence Day celebration in Tucuman, with no military parade

President Mauricio Macri and his cabinet will be celebrating Argentina's Independence Day, Monday 9 July at the Historic House in the northern province of Tucuman, where the declaration was first announced 202 years ago. Contrary to other years there... read more

 Merco Press13 days ago
"Argentina on the rocky road to recession", anticipates The Economist

On a residential street corner in Buenos Aires, Van Koning Market sells imported beers to the city’s well-heeled. Since it opened in June last year costs have soared. The peso has plummeted, meaning wholesale prices have shot up. Inflation is running... read more

 Merco Press13 days ago
Argentine forensic team identifies soldier 93 buried in the Falklands

Argentina's Human Rights Secretary confirmed on Thursday that another combatant, killed during the Falklands conflict and buried at the Argentine military cemetery in Darwin has been identified. This brings the total to 93. The 19 year old conscript,... read more

 Merco Press15 days ago
Argentina deregulates and eliminates minimum prices for domestic airfares

In an unexpected move, Argentina’s Minister of Transportation Guillermo Dietrich announced that national administration will no longer set minimum prices for domestic airfares, starting on August 15.... read more

 Merco Press17 days ago
Argentina reveals financial needs; stock market and the Peso rebound

Argentina will need to raise a net US$ 8 billion in the domestic debt market in 2019 to meet financing needs that include a US$ 7.4 billion primary deficit and US$ 25 billion in debt principal and interest payments, according to a Treasury Ministry d... read more

 Merco Press18 days ago
Shrimp landings in Argentine reach 68.000 tons

Shrimp (Pleoticus muelleri) landings in Argentina accumulated during the first half of this year are somewhat lower than those for the same period last year. According to the preliminary figures, up to 21 June, released by the Argentine Under-Secreta... read more

 Merco Press19 days ago
Argentina hikes bank reserves; Peso gains 1.9% vs the dollar and settles at 28.3

Argentina's central bank said on Monday that it hiked bank reserve requirements by 3 percentage points, following a hike of three percentage points on June 18 as monetary policymakers seek to calm inflation and end a run on the peso currency. The Pes... read more

 Merco Press19 days ago
Argentina plans to free fuel prices starting in August

Argentina will allow fuel retailers to freely set pump prices starting in August, according to an Energy Ministry official familiar with the plan, a move that could encourage badly needed investment in the nation's oil patch but risks worsening sky-h... read more

 Merco Press19 days ago
Messi out of the World Cup: France beat Argentina 4-3

Mbappé is the man of the day. The player of the Paris Saint Germain (PSG) was the great figure of the game in which France surpassed by 4-3 to Argentina and advanced to the quarters of the 2018 Russia’s World Cup. With two goals from Mbappé, one from... read more

 Merco Press22 days ago
Argentine Peso and equities end the week back on skid row

After a week of relative stability, the Argentine peso slid more than 2.5% percent on Friday, as an economic crisis marked by high inflation, wobbly growth and an outflow of capital began to bite again.... read more

 Merco Press22 days ago
Maradona asked by FIFA "to behave in a respectful manner"

Diego Maradona might be a giant of the game's history, FIFA said on Friday, but even he must show respect to other fans at World Cup stadiums. Asked about complaints that the 57-year-old had made an obscene gesture at other spectators after Argentina... read more

 Merco Press22 days ago
Maradona: "I'm more alive than ever"; offers a reward on the origin of fake news about his death

Argentina's former football star Diego Maradona has issued a bounty worth 300,000 pesos (US$10,800 / £8,300) to find the journalist responsible for reporting fake news regarding his death, according to Infobae.... read more

 Merco Press22 days ago
Malvinas veterans frustrated: strict measures on "political messages" in the World Cup

Vladimir Putin despite all the sanctions imposed on his administration by foreign countries, is a much respected leader for his direct no-nonsense approach to issues, and he wants to make sure the World Cup hosted by Russia becomes an impeccable, unf... read more

 Merco Press22 days ago
"An unforgettable year for soybeans in Argentina", yields and harvested area at its lowest

Argentine soy yields and harvesting area have been chopped by drought to their lowest levels since the 2008/09 season, analysts said on Thursday, citing the effect of a four-month dry spell that suddenly gave way to floods in April.... read more

 Merco Press23 days ago
Black Wednesday for Argentina and Brazil as selloff intensifies across emerging markets assets

Argentina’s benchmark MerVal stock index closed down 8.8% on Wednesday, its worst daily performance since early 2014, as concerns about trade tensions between the United States and China prompted a selloff across emerging market assets.... read more

 Merco Press24 days ago
UK prepared to resume arms sales to Argentina after a six-year ban

Arms exports to the Argentine military are set to resume, more than six years after a ban imposed in a row over the Falkland Islands. Foreign Office Minister Sir Alan Duncan said restrictions would still be imposed on exports which could "enhance" Ar... read more

 Merco Press24 days ago
A gallant Nigeria almost KO Maradona in St Petersburg

Argentine soccer legend Diego Maradona may have gotten a little too excited during a FIFA World Cup match on Tuesday. The 57-year-old collapsed after his home country won 2 to 1 against Nigeria in St. Petersburg, Russia, according to a video posted b... read more

 Merco Press25 days ago
Argentine economy shrinks 0.9% as agriculture hit by drought plummets 31%

Argentina’s economy shrank in April for the first time in more than a year, government data showed on Tuesday, while the central bank held its policy rate stable at 40% in the first rate decision since a shakeup in its leadership.... read more

 Merco Press25 days ago
Argentine public service unions strike to protest IMF deal halts the country

Argentina ground to a halt on Monday as public service unions blocked road, rail and air transport with a nationwide 24-hour strike in protest at the government's latest deal with the International Monetary Fund. In a massive show of force against th... read more

 Merco Press26 days ago
Latam stocks and currencies hit by global trade disputes

Latin American stocks and currencies mostly fell on Monday as the trade dispute between the United States and other leading economies worsened, but central bank intervention kept the Brazilian real steady.... read more

 Merco Press26 days ago
General strike in Argentina to protest president Macrí's economic reforms

Argentina labor's umbrella organization CGT, has organized a strike for Monday to protest the economic reforms being implemented y the administration of president Mauricio Macri's business friendly administration.... read more

 Merco Press27 days ago
Malvinas question dispute: new phase in Argentina/UK relations will create favorable conditions

Foreign minister Jorge Faurie reiterated before the United Nations Decolonization Committee or C24, that Argentina wishes to establish a dialogue with the UK to solve the Malvinas Islands dispute, and underlined he believed that “favorable conditions... read more

 Merco Press30 days ago
Sampaoli takes the blame for the crushing defeat to superb Croatia

Argentina coach Jorge Sampaoli has promised the team will give everything they have to try and qualify for the World Cup's round of 16 after their hopes of progression suffered the hammer blow of a 3-0 loss to Croatia.... read more

 Merco Press30 days ago
Stocks up 6% and the Peso stabilized following MSCI upgrade of Argentina

Argentine stocks surged on Thursday after index provider MSCI upgraded the country to its emerging markets index a day earlier, a respite from months of dismal economic news for market-friendly President Mauricio Macri. The local Merval stock index c... read more

 Merco Press30 days ago
Falkland Islands approve exhumation and repatriation of Argentine Soldier

Last week the Falkland Islands Government approved under Falkland Islands law the exhumation of the body of Flight Lieutenant Luis Dario Jose Castagnari. Mr Castagnari is buried at the Argentine Cemetary near Darwin in the Islands, having perished du... read more

 Merco Press31 days ago
"The Argentine claim to our Falkland Islands is unfounded and unwelcome"

"We have a right to live in peace, we have a right to our freedom and above all we have a right to determine our own future", Falkland Islands elected lawmaker, MLA Ian Hansen told the United Nations decolonization committee or C24 on Wednesday, in N... read more

 Merco Press31 days ago
IMF Executive Board approves US$50bn Stand-By Arrangement for Argentina

The Executive Board of the International Monetary Fund (IMF) approved on Wednesday a three-year Stand-By Arrangement (SBA) for Argentina amounting to US$50 billion (equivalent to SDR 35.379 billion, or about 1,110 percent of Argentina’s quota in the ... read more

 Merco Press31 days ago
A good one for Macri: MSCI decides to reclassify Argentina as an emerging market

Index provider MSCI said on Wednesday it will reclassify Argentina as an emerging market and begin including Saudi Arabia in that classification, sharply broadening the investor base for both countries in a move that could be supportive of their equi... read more

 Merco Press31 days ago
Global Index decides on Wednesday if it includes Argentina and Saudi Arabia

Global index compiler MSCI is considering including Argentina and Saudi Arabia in its emerging market indexes at a review of its widely-tracked benchmark on Wednesday, and could potentially announce candidates that may join its indexes in future.... read more

 Merco Press32 days ago
Argentine central bank contains run on the Peso, and major dumping of bonds

Argentine bonds touched their lowest levels of market-friendly President Mauricio Macri's term on Tuesday, but rebounded in a volatile trading session. Meanwhile the country risk (a measure of the difference between its bond yields and those issued b... read more

 Merco Press32 days ago