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The 2018–present Argentine monetary crisis is an ongoing severe devaluation of the Argentine peso, caused by high inflation and steep fall in the perceived value of the currency at the local level as it continually lost purchasing power, along with other domestic and international factors.
[9] [10] Argentina's GDP exceeded pre-crisis levels by 2005, and Argentine debt restructuring that year resulted in resumed payments on most of its defaulted bonds; a second debt restructuring in 2010 brought the percentage of bonds out of default to 93%, though holdout lawsuits led by vulture funds remained ongoing.
In 1838 there was a new currency crisis, and the peso papel was devalued by 34%, and in 1839 when the peso papel lost 66% of its value. [44] It was again devalued by 95% in 1845, and by 40% in 1851. [44] The Alsina years, which coincided with the secession of Buenos Aires, saw an extremely poor economic performance. [50]
BUENOS AIRES (Reuters) -Argentina will weaken its peso over 50% to 800 per dollar, cut energy subsidies, and cancel tenders of public works, new Economy Minister Luis Caputo said on Tuesday ...
Argentina’s new financial crisis following the surprise July 2 resignation of its former economy minister is rocking the country, and driving many nervous Argentines to rush to buy goods as ...
The political establishment’s failure to fix decades of crisis in Argentina explains the tide of popular rage that vaulted the irascible Javier Milei, a self-declared “anarcho-capitalist," to ...
The most recent arrangement approved Argentina to borrow SDR 40,714.00 million, of which Argentina has borrowed SDR 31,913.71 million [4] as of December 10, 2019. Over the past 63 years, Argentina has frequently used the resources of the IMF and holds the record for the largest loan distributed, reaching nearly $57 billion in 2018. [5]
Argentina's central bank bought $190 million in foreign exchange markets over the past week to weaken its peso currency, a radical change from just months ago when it was spending billions to prop ...