Money in Argentina
Argentina - MoneyMauricio Macri, who triumphed in December’s presidential elections, is quickly moving forward with reform implementation, thus fueling expectations of an economic turnaround. Last month, the new government scrapped export taxes and devalued the currency amid depleting foreign reserves. While the tax reforms and the weaker peso are expected to benefit the country’s exports, the depreciation of the currency will likely fuel inflation, which is already in the double-digits. Moreover, Macri’s government hopes to seal a deal with the U.S. hedge funds over the defaulted debt as soon as this month. A successful deal would give Argentina much-needed access to international capital markets. Recent data show that consumers were less confident in December as the consumer confidence index dropped to a three-month low, likely reflecting concerns of higher expected inflation.
Argentina - Money Data
|Money (annual variation in %)||34.6||29.8||38.4||25.7||28.9|
5 years of economic forecasts for more than 30 economic indicators.
Argentina Money Chart
Source: Argentina Central Bank and FocusEconomics calculations.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||14.37||0.91 %||Feb 05|
|Stock Market||11,400||-0.19 %||Feb 05|
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January 19, 2016
Consumer prices in October increased 1.1% over the previous month, according to the inflation index elaborated by the National Statistics Institute (INDEC).
January 18, 2016
Mauricio Macri, who triumphed in December’s presidential elections by tapping into voters’ exhaustion with Peronist dominance, is quickly moving forward with reform implementation and thus fueling expectations of an economic U-turn.
December 23, 2015
After jumping to an eight-year high in November, the Universidad Torcuato di Tella (UTDT) consumer confidence index eased in December.
December 3, 2015
In October, industrial production dropped 2.5% over the same month last year.
December 2, 2015
Argentina elected Mauricio Macri—the representative of the conservative Let’s Change coalition (Cambiemos)—as Cristina Fernandez de Kirchner’s successor in the run-off elections held on 22 November, thus fueling expectations of a shift toward more orthodox macroeconomic policies.