Argentina central banker resigns as IMF talks near conclusion

BUENOS AIRES (Reuters) – Argentina’s central bank governor unexpectedly resigned on Tuesday in the midst of negotiations with the International Monetary Fund, upsetting President Mauricio Macri’s efforts to restore investor confidence and sending the peso sliding. Luis Caputo’s resignation after just three months in the role came as a nationwide strike by unions shuttered public transit and ports across Argentina […]

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Losses From Hurricane Florence Could Reach $30 Billion

As of Monday, 10 days after Hurricane Florence made landfall in North Carolina, 43 deaths have been blamed on the storm and property damage could reach as high as $30 billion, according to a Tuesday report from CoreLogic. The company reckons that about 85% of the residential property loss is uninsured. The damage estimate includes North and South Carolina and […]

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Argentina close to securing more IMF support, protests simmer

BUENOS AIRES (Reuters) – Argentine President Mauricio Macri said on Monday his country was close to a deal with the International Monetary Fund to bolster a $50 billion credit line, while a government source said $3-$5 billion in additional funds could be announced this week. Macri said in an interview with Bloomberg TV in New York that Argentina would receive […]

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Additional IMF funding to Argentina 'close to reality'

BUENOS AIRES (Reuters) – Argentine President Mauricio Macri said on Monday that the country was close to a deal with the International Monetary Fund to bolster a $50 billion credit line, while a government source said $3 to $5 billion in additional credit could be announced this week. Macri said in an interview with Bloomberg TV in New York that […]

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Argentine peso strengthens on optimism over IMF talks

BUENOS AIRES (Reuters) – The Argentine peso rose 3.2 percent on Thursday, and investors cited optimism that the recession-hit country will strike a new standby financing agreement with the International Monetary Fund aimed at guaranteeing government solvency. The local currency was at 38.15 to the dollar. It has lost about half its value this year as investors worried about whether […]

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