Money in Argentina

Argentina Money | Economic News & Forecasts

Argentina - Money

Argentina officially exited default in late April following the payment of USD 9.3 billion to holdout bondholders. The payment was carried out after the government managed to successfully finalize the sale of USD 16.5 billion in bonds. The settlement with the holdouts also paved the way for the government to pay the holders of restructured bonds. Following the end of the holdout saga, the country’s debt rating was upgraded by the three important rating agencies. While the return to credit markets marks a milestone for Argentina, Mauricio Macri’s aggressive reform drive is triggering massive discontent at home. In recent weeks, thousands of people have taken to the streets to protest against layoffs and austerity cuts. Against this backdrop, earlier this month, Macri struck a deal with local businessmen to suspend layoffs for 90 days. High inflation and massive job cuts are a main cause of concern for Argentinians. In April, consumer confidence deteriorated to the lowest level in nearly two years.

Argentina - Money Data

2011  2012  2013  2014  2015  
Money (annual variation in %)29.8  38.4  25.7  28.9  28.2  

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Argentina Money Chart

Argentina Money
Note: Annual variation of M2 in %.
Source: Argentina Central Bank and FocusEconomics calculations.

Argentina Facts

Bond Yield6.690.15 %Dec 17
Exchange Rate14.050.0 %May 25
Stock Market12,382-0.74 %May 24

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