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Search resuls for: "Walter Stoeppelwerth"


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The South American country's markets are closed on Monday for a local holiday, so will only fully trade on Tuesday. Overseas-listed sovereign bonds and some equities will trade, mainly in Europe and the United States. In his first speech Milei pledged speedy reforms to fix an economy mired in crisis. If Milei can convince the market that the chainsaw (fiscal discipline) is the heart and soul of his presidency then bonds rally," he said. But he still faces a divided Congress where his Liberty Advances bloc only has a small share of seats.
Persons: Javier Milei's, Sergio Massa, Juan Manuel Pazos, Milei, Mauricio Macri, Patricia Bullrich, Martin Castellano, Walter Stoeppelwerth, Gletir, Gustavo Ber, Jorgelina, Walter Bianchi, Jorge Otaola, Christopher Cushing Organizations: Peronist, FX, Institute of International Finance, Liberty, Thomson Locations: BUENOS AIRES, Argentine, American, Europe, United States, Buenos Aires, Rosario
But that programme failed to put South America's second-largest economy back on its feet. Even if he wins the Oct. 22 election and takes power in December, Milei would need alliances in Congress to push through reforms and a new IMF programme - Argentina's 23rd. That effort paved the way for the $57 billion programme, which ultimately failed and was replaced by the current one. Reuters Graphics Reuters GraphicsPREFERENTIAL TREATMENTThe current programme could end before its expiration in September 2024, but Argentina will still require funds. Without mentioning Argentina, the U.S. - holding the largest voting power in the Fund - recently raised its concerns.
Persons: Javier Milei, Agustin Marcarian, Mauricio Macri's, Mark Sobel, Milei, Sobel, Sergio Massa, Martin Muehleisen, Muehleisen, Nestor Kirchner, Stephen Nelson, Nelson, Walter Stoeppelwerth, Simon Quijano, Evans, Gemcorp Capital, Jay Shambaugh, Jorgelina, Karin Strohecker, Paul Simao Organizations: Argentine, La Libertad Avanza, REUTERS, IMF, International Monetary Fund, South, Peronist, Analysts, Graphics, Review Department, U.S ., Northwestern University, Reuters Graphics Reuters, Gletir SA, Gemcorp, Thomson Locations: La Plata, Buenos Aires, Argentina, Washington, U.S, Chicago, Zambia, Sri Lanka, Ghana, Egypt, Burundi, Saharan Africa, Rosario
REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.
Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario
REUTERS/Agustin Marcarian/Illustration/File PhotoNEW YORK, Aug 15 (Reuters) - Investors in Argentina's financial markets, where bonds and the peso slid on Monday after central bank moves following a surprise primary election result, said the vote had a silver lining: it would likely hasten long-called-for economic reforms. The result initially introduced uncertainty into asset pricing, with traders selling stocks and dollar bonds - but prices later stabilized and the local stock market closed over 3% higher. Investors said this would outweigh any worries about Milei, despite some of his heterodox pledges, including to axe the central bank and dollarize the economy. Milei faces a significant challenge still to turn the primary election win into a successful run to the presidency. The central bank also increased the benchmark interest rate to 118% from 97%.
Persons: Agustin Marcarian, Javier Milei, Patricia Bullrich, Milei, Kimberley Sperrfechter, Sergio Massa, Cristina Fernandez de Kirchner, Milei's, Walter Stoeppelwerth, Shamaila Khan, Rowe Price, Samy Muaddi, Rodrigo Campos, Adam Jourdan, Rosalba O'Brien Organizations: Argentine, REUTERS, Economics, Kimberley, Peronist, Investors, Gletir SA, Emerging Markets, Asia Pacific, UBS Asset Management, Jorgelina, Thomson Locations: Argentina, Argentine, MERV, Rosario
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