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Top related persons:
Javier Milei - 4 Milei - 3 Steve Hanke - 2 — - 2 Diego Maradona - 1 Tomas Cuesta - 1 Hanke - 1 CNBC's - 1
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Search resuls for: "Argentine Central Bank"


6 mentions found


☆ Crisis-stricken Argentina must dollarize and get rid of the central bank, veteran economist says
  + stars: | 2024-03-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com   time to read: +4 min
A man wearing a Diego Maradona t-shirt walks by the Argentine Central Bank on November 30, 2023 in Buenos Aires, Argentina. Data published Tuesday by the country's statistical office showed that Argentina's 12-month inflation rate through February rose to 276.2%, reaffirming Argentina's position as having the world's worst inflation. Hanke said that in 1999 he had drafted a law at the request of former President Carlos Menem that would have dollarized Argentina's economy. Advocates of dollarizing Argentina's economy say the switch could help the country tame skyrocketing inflation and bring an end to its boom-and-bust cycle. Ecuador and Panama are two notable examples of countries that have previously dollarized their economies, but no country of Argentina's size has previously shifted to the U.S. dollar.
Persons: Diego Maradona, Tomas Cuesta, Javier Milei, Steve Hanke, Milei, Hanke, CNBC's, Carlos Menem, he'd, Argentina Javier Milei, Donald Trump Organizations: Argentine Central Bank, Getty, Monday, Johns Hopkins University, Argentine Congress, International Monetary Fund, CNBC, U.S . Locations: Buenos Aires, Argentina, London, Ecuador, Panama
☆ Argentina’s market rallied sharply on a historic election. How investors can play it
  + stars: | 2023-11-26 | by ( Fred Imbert | ) www.cnbc.com   time to read: +3 min
Argentina last week held a historic election in which libertarian candidate Javier Milei came out victorious, sending the country's stock market surging. The Merval , Argentina's stock market benchmark, rallied 42% for the week. The trade Trading in Argentine stocks has historically been a volatile endeavor. That said, there are ways for investors in the U.S. to get exposure to the Argentine market if they think stocks can rise during Milei's presidency. Other U.S.-listed Argentine stocks include oil name YPF — which surged nearly 57% last week — and Banco BBVA Argentina , which is up 34% in 2023.
Persons: Javier Milei, Milei, Diego Pereira, –, Jorge Morgenstern, GlobalX Organizations: JPMorgan, Senate, HSBC, Argentine, Banco BBVA Argentina Locations: Argentina, Argentine, U.S, . U.S
☆ Argentina's new president Javier Milei thinks adopting the US dollar can rescue its screwed economy
  + stars: | 2023-11-20 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
He thinks replacing the peso with the dollar can tame hyperinflation and revive the battered economy. Prominent economist Steve Hanke — a champion of Milei's dollarization drive — posted on X after the results were announced that the candidate's proposal was "clearly a vote-getter." REBUILDING ARG'S ECONOMY = DOLLARIZATION. AdvertisementDespite its economic woes, Argentina's economy was worth $633 billion in 2022, making it the world's 23rd-largest economy. Critics of Milei's dollarization plans cite major challenges for Argentina against its backdrop of hyperinflation, economic crises, and political instability.
Persons: Javier Milei, —, Javier Milei's, Milei, Milei's, dollarize, Steve Hanke —, Milei’s, Steve Hanke, Milei's dollarization, There's, Markus Jaeger, Jaeger Organizations: Service, Johns Hopkins University, Argentine, Argentina, International Monetary Fund, Business Locations: Argentina, Argentine
☆ Argentina's currency crisis is so dire that it's allowing people to open bank accounts using the Chinese yuan
  + stars: | 2023-07-03 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
Argentina is allowing commercial banks to open deposit accounts in the Chinese yuan. The country is facing a drastic shortage in the US dollar, a major currency used in global trade. The Central Bank of Argentina said in a Thursday statement on its website that it is allowing the Chinese yuan as a form of currency in savings and checking accounts. The move complements the country's securities regulator announcing that Argentina can issue securities in the Chinese currency, the central bank added. Javier Milei, a leading presidential candidate, has proposed replacing the peso with the greenback as Argentina's local currency to tame inflation.
Persons: —, Javier Milei Organizations: Argentine, greenback, Service, Central Bank of, International Monetary Fund, Buenos Aires Times, Bloomberg, Reuters Locations: Argentina, Central Bank of Argentina, China, Beijing, internationalize, Argentine
☆ Argentina and China formalize currency swap deal
  + stars: | 2023-01-08 | by ( ) www.reuters.com   time to read: +1 min
BUENOS AIRES, Jan 8 (Reuters) - Argentina and China have formalized the expansion of a currency swap deal, allowing the South American country to increase its depleted foreign currency reserves, the Argentine central bank said on Sunday. President Alberto Fernandez announced the deal in November last year and said at the time it was worth $5 billion. China is Argentina's second biggest trade partner, after Brazil, and the second most important destination for Argentine exports. "The swap comprises the exchange of currency for reinforcement of international reserves of 130 billion yuan and a special activation of 35 billion yuan to compensate operations on the foreign exchange market," the statement said. Reporting by Jorge Otaola; Writing by Maximilian Heath and Julia Symmes Cobb; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.
☆ Argentina's reserves under pressure again after soy export bonanza ends
  + stars: | 2022-11-08 | by ( Jorge Otaola | ) www.reuters.com   time to read: +2 min
BUENOS AIRES, Nov 8 (Reuters) - The Argentine central bank's already depleted reserves are coming under renewed pressure, as grains exports from the South American nation have stalled following a soybean sales bonanza and a drought that is hitting wheat and corn. The country's central bank sold some $150 million on Monday, the largest daily fall in reserves since early August, traders told Reuters, adding to drops of some $368 million last week and $72 million the week before. It sold $145 million on Tuesday. Amid a slowdown in grains sales for the world's top exporter of processed soy and No. Reporting by Jorge Otaola; Writing by Adam Jourdan; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
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