EconomyLoop
where regional business news becomes global to everyone

"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 Press1 hour 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 Press2 hours 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 Press3 hours 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 PressYesterday
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 PressYesterday
Maradona comes out in support of Messi and his missed penalty

Argentina’s Diego Maradona has come out to defend Lionel Messi after the Barcelona attacker missed a penalty in his team’s draw against Iceland on Saturday. Speaking to Telesur, the 1986 World Champion said: "I missed five penalties in a row and I wa... read more

 Merco Press2 days ago
Argentina shores the Peso, stock market tumbles, ahead of 'Super Tuesday'

Argentina's peso rose sharply on Monday as a new central bank chief took his first moves to shore up the battered currency, while escalating fears of a damaging trade war between the United States and China drove Latin American stocks down. The Argen... read more

 Merco Press2 days ago
Uruguay chair of Mercosur, targets accord with China, exhausted of negotiations with the EU

Uruguay will be handed the rotating chair of Mercosur this Monday in a brief summit ceremony to take place in Paraguay. Attending will be Brazil's Michel Temer, Uruguay's Tabare Vázquez, the host Paraguay Horacio Cartes and in representation of Argen... read more

 Merco Press2 days ago
Argentina's new minister suggests a US dollar between 28/29 Pesos as 'comfortable' for industry

Argentina’s newly named Production Minister Dante Sica told a radio station on Sunday that an exchange rate of between 28 and 29 Pesos per dollar is “comfortable” for industry.Sica, an economist, was appointed on Saturday to replace Francisco Cabrera... read more

 Merco Press3 days ago
Forex run in Argentina: Macri appoints new Central bank president

Argentine president Mauricio Macri appointed Finance Minister Luis Caputo as president of the central bank on Thursday, after the outgoing head of the bank resigned and acknowledged having lost credibility.... read more

 Merco Press6 days ago
Argentine president Macri was detected a benign pancreatic cyst: "a treatment is not necessary"

Argentine president Mauricio Macri was detected a benign cyst in the pancreas, according to an official release from the Executive Office. The condition was discovered during a routine medical checkup last 23 May and following clinical studies includ... read more

 Merco Press6 days ago
IMF's Lagarde welcomes Argentina government’s economic policy plans

Argentine authorities have asked to use US$7.5 billion of the US$50 billion financing deal signed with the International Monetary Fund to fund their budget, IMF Managing Director Christine Lagarde said in a statement. Argentina’s Finance Ministry sai... read more

 Merco Press6 days ago
Legal abortion bill in Argentina faces an even steeper up hill in the Senate

The lower house of Argentina’s Congress on Thursday narrowly passed a Bill to legalise abortion through 14 weeks of pregnancy after a tight vote on a proposal that has divided the South American nation.... read more

 Merco Press6 days ago
Argentina's unions announce a one-day general strike to protest spending cuts

Argentina's leading labor federation announced plans to stage a one-day general strike on June 25 to protest against government economic policies, raising pressure on President Mauricio Macri as he moves to speed up spending cuts to balance the budge... read more

 Merco Press7 days ago
Falklands has decided on a preferred operator for a second commercial flight

The Falkland Islands Executive Council agreed on Wednesday to appoint a preferred airline operator to provide the second midweek flight between the Falkland Islands and South America.... read more

 Merco Press7 days ago
A divided Argentine congress and society vote to decriminalize abortion

Argentina's Lower House will vote on Wednesday a bill to decriminalize elective abortion without judicial authorization in the first 14 weeks of pregnancy. In Argentina abortion is only allowed when the mother's life is at risk or as a result of rape... read more

 Merco Press8 days ago
The Day of Malvinas Rights' affirmation remembered in Argentina

Argentina believes that the new climate in bilateral relations with the United Kingdom, started in 2016, will enable to advance in areas of common interest, particularly in the South Atlantic, and will signify the appropriate framework for the resump... read more

 Merco Press10 days ago
Argentina/Falklands "constructive spirit" will be tested at the UN C24 presentations

The constructive spirit and pragmatic attitude towards Argentina/United Kingdom relations and shared interests seems to have spilled positively to international forae, for example the latest OAS general assembly declaration regarding the Malvinas Isl... read more

 Merco Press10 days ago
IMF and Argentina agree on a 36-month US$ 50bn Stand-By Arrangement

The Argentine authorities and IMF staff have reached an agreement on a 36-month Stand-By Arrangement (SBA) amounting to US$50 billion (equivalent to about SDR 35.379 billion or about 1,110% of Argentina’s quota in the IMF). This staff-level agreement... read more

 Merco Press13 days ago
Sister of Queen Maxima of Netherlands dies of an apparent suicide

Queen Maxima of the Netherlands is mourning the loss of her younger sister Inés Zorreguieta, who has passed away at the age of 33. Local Argentine media have reported that Inés died of an apparent suicide. She was found at her home on Wednesday nigh... read more

 Merco Press13 days ago
Theresa May confirms her trip to Argentina next December for the G20 summit

UK Prime Minister Theresa May confirmed on Tuesday to Argentine cabinet chief Marcos Peña that she will be attending the G20 summit scheduled for next December in Buenos Aires. Mrs. May turned up at an office where her principal private secretary Pet... read more

 Merco Press14 days ago
Argentina cancels exhibition match on Saturday in Jerusalem

The football exhibition match between Israel and Argentina slated for Saturday in Jerusalem has been canceled, Israel's embassy in Argentina confirmed early Wednesday, citing unspecified 'threats and provocations' against star player Lionel Messi.... read more

 Merco Press15 days ago
China and Argentina reinforce financial links with increased currency swap arrangement

Argentina is looking to expand an existing currency swap arrangement with China, as Buenos Aires looks to stabilize the economy one month after applying for financial aid from the International Monetary Fund. In an interview with the Financial Times,... read more

 Merco Press15 days ago
IMF/Argentina talks "very constructive"; growth estimate falls to 1.3% from 2.5%

The International Monetary Fund said on Monday that talks with Argentine authorities for financial support are well advanced and the plan is driven by Argentina priorities with a particular focus on protecting the most vulnerable.... read more

 Merco Press16 days ago
Argentina identifies remains of the 92nd combatant buried in the Falklands

The Argentine Human Rights Secretary announced on Monday the name of another Argentine soldier fallen during the Falklands conflict and buried at the Argentine military cemetery at Darwin, taking the number of identified remains to 92.... read more

 Merco Press16 days ago
Argentine cabinet chief honors all Falklands' conflict fallen at St Paul's cathedral in London

Argentine cabinet chief Marcos Peña honored all combatants fallen during the Falkland Islands conflict and laid a wreath at the crypt in London's St Paul Cathedral, which remembers the 1982 South Atlantic war.... read more

 Merco Press16 days ago
Honoring Falklands' fallen begins full agenda for Macri's cabinet chief in London

Argentine cabinet chief Marcos Peña arrived on Sunday in London for a two-day full agenda beginning Monday, with a round of ministerial meetings, media interviews, a visit to Parliament, a conference, even a visit to 10 Downing Street, but it will al... read more

 Merco Press17 days ago
Nisman death was a homicide, rules Argentine federal appeals court

An Argentine federal appeals court confirmed on Friday that special prosecutor Alberto Nisman, found dead in 2015 while investigating a 1994 Jewish center bombing, was murdered.... read more

 Merco Press19 days ago
London tube operator interested in operating Buenos Aires underground system

British underground operator Transport for London (TfL) is keen on securing a multi-million dollar contract with Buenos Aires City to operate the city’s underground network, one of the first to be inaugurated in the world. According to a February rep... read more

 Merco Press19 days ago
Argentina delists Malvinas petitioner Betts, and his shady turncoat past begins to surface

Alejandro Jacobo Betts, Argentine citizen, born as Alexander Jacob Betts in the Falkland Islands, where he lived with a family until the end of the 1982 conflict, has been delisted from the Argentine delegation to this year's United Nations Decoloniz... read more

 Merco Press20 days ago
Tierra del Fuego insists with a representative in the SW Atlantic Fisheries sub committee

Tierra del Fuego media and Clarin in Buenos Aires coincide that foreign minister Jorge Faurie has admitted the possibility for a representative from the extreme south province to attend the Argentine/UK South West Atlantic Fisheries Scientific Sub Co... read more

 Merco Press20 days ago
Argentine Senate votes 37 to 30 to freeze utility rates; Macri expected to veto the bill

Following twelve hours of heated and at time acrimonious debate the Argentine Senate on early Thursday voted, 37 to 30, to freeze utility prices. President Mauricio Macri had anticipated that if the bill was passed he would veto it because there is n... read more

 Merco Press21 days ago
Argentine military to have a greater role in combating drug-trafficking

Argentina’s Armed Forces will soon play a bigger role in the fight against drug-trafficking and terrorism, as the president Mauricio Macri administration looks to assigning new responsibilities to the military in domestic and border security.... read more

 Merco Press21 days ago
Argentine forensic team identify remains of another combatant buried in the Falklands

The remains of yet another Argentine combatant fallen during the Falklands conflict in 1982, and buried at the Argentine military cemetery in Darwin, have been identified bringing the number to 91, out of a total of 121 only a year ago.... read more

 Merco Press21 days ago
Coca Cola supports Macri with US$ 1.2bn, 2019/2021, investment pledge

Coca-Cola announced it would increase its investments in Argentina over the next three years, giving embattled President Mauricio Macri’s government a boost at a difficult time.... read more

 Merco Press21 days ago
Argentina set to expand fresh beef exports to Japan and China

Argentina is set to expand fresh beef exports to Asia, with Japan and China having already approved import deals, the country's agriculture minister said. Luis Miguel Etchevehere in Tokyo said that Argentina has signed a deal with the Japanese govern... read more

 Merco Press22 days ago
The Way Out of Argentina’s New Crisis

The late MIT economist Rüdiger Dornbusch used to tell his students in the 1980s that there are four kinds of countries: rich, poor, Japan, and Argentina. No one frets anymore about Japan buying its way to world domination. But the world is worrying a... read more

 Merco Press23 days ago
Falklands: Argentine cabinet chief will honor fallen British combatants, at St. Paul's cathedral

Argentine cabinet chief Marcos Peña will be honoring the British combatants fallen during the South Atlantic conflict when he travels to the UK. The ceremony is scheduled for next 4 June at St Paul's cathedral in London... read more

 Merco Press23 days ago
Argentina increases export tax on biodiesel to 15% from 8%

The Argentine government is raising an export tax on biodiesel to 15% from 8%, effective July 1, according to a decree published in the official Gazette on Monday. Argentina is one of the world's top providers of biodiesel fuel, exporting 1.65 millio... read more

 Merco Press23 days ago
IMF/Argentina discussions to stabilize the economy are "progressing well"

"We are really moving ahead and we have committed to President Macri that we will do the best we can in order to move expeditiously and efficiently in order to change the perception about Argentina and the perception that people have about our role,"... read more

 Merco Press26 days ago
Thousands march in Buenos Aires to protest Argentina's IMF credit bid

Thousands of Argentines on Friday protested the government’s bid to secure a credit line from the International Monetary Fund, which they blame for hardship during a past financial crisis. Opposition parties, unions, human rights organizations and ar... read more

 Merco Press26 days ago
Argentine church independence message: sigh of relief for embattled Macri

A sigh of relief from Argentine president Mauricio Macri and his administration following on Friday's Tedeum by the Archbishop of Buenos Aires, which marks the Church' message on May 25, the symbolic celebration of the first independence efforts dur... read more

 Merco Press26 days ago
UK/Argentina agree to work together against antimicrobial resistance

United Kingdom's Health and Social Care Secretary Jeremy Hunt has signed a Memorandum of Understanding with the Argentine Government to work together against antimicrobial resistance (AMR) in the environment.... read more

 Merco Press27 days ago
Dollar/Peso challenge: Argentina offers to swap one-month Lebacs for long term papers

Argentina’s central bank moved on Wednesday to improve its debt profile by offering to swap some of its one-month Lebac securities for paper of longer duration, the bank said in a statement.... read more

 Merco Press28 days ago
Ushuaia 2017/18 cruise season “excellent”; provincial funds to upgrade port and city facilities

Ushuaia received 120.000 visitors and 33.000 crew members this last cruise season which totaled 332 calls, according to the results made public by the mayor of Tierra del Fuego's capital, Walter Vuoto.... read more

 Merco Press29 days ago
(Brexit) UK and Argentina on the same intelligent reinsertion to the global community

Foreign Secretary Boris Johnson forecasted a “new, exciting phase” in Anglo-Argentine relations as he wrapped up his visit to Buenos Aires. Johnson visited Argentina to attend the G20 Foreign Ministers summit. His visit was the first by a British For... read more

 Merco Press29 days ago
Johnson and Faurie agree to advance relations, despite the Falklands dispute

British Foreign Secretary Boris Johnson said on Tuesday that relations with Argentina will continue to grow despite the nations’ dispute over the Falkland Islands sovereignty. Argentina still claims the Islands that it calls the Malvinas. Britain say... read more

 Merco Press29 days ago
Foreign Secretary honors Argentine fallen during the Falklands conflict in Buenos Aires

British Foreign Secretary Boris Johnson on Sunday laid a wreath to honor Argentine soldiers fallen while fighting the British in the 1982 Falkland Islands conflict. Johnson, who is in Buenos Aires for a Group of 20 meeting, visited the Monument of th... read more

 Merco Press31 days ago
Boris Johnson will be the first Foreign Secretary to visit Argentina in 15 years

Boris Johnson is to make the first visit by a British foreign secretary to Argentina for 25 years. Mr. Johnson will seek to take advantage of the improvement in relations with Buenos Aires since President Mauricio Macri came to power in 2015.Presiden... read more

 Merco Press33 days ago
IMF confirms support for Macri, but also with greater focus on social protection

The International Monetary Fund will move quickly to agree on a loan program to support Argentina but there are no details yet on what it will entail, a fund spokesman said on Thursday. However spokesperson Gerry Rice also underlined that the IMF now... read more

 Merco Press34 days ago