MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

Services Drive Downside Surprise in CPI-ATE

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Authorities Expected To Push Back Two IMF Repayments To End of June

ARGENTINA
  • According to an IMF official who requested not to be named, Argentina is planning to bundle two payments owed to the IMF to be paid at the end of June. Per IMF rules, countries are allowed to delay multiple payments due in a given month until the end of the 30-day period. This would mark the second time authorities have requested an extension.
  • Goldman Sachs have noted that while the decision does not require the Board’s approval and is allowable under with IMF rules, they highlight that it underscores the delicate macroeconomic conditions in Argentina. A critically low level of international reserves, a misaligned exchange rate, weak policy credibility, triple digit inflation, an imminent sharp slowdown in economic activity, and a broad set of FX, capital and trade controls are significant drivers of macroeconomic pressures.
  • In Goldman Sachs’ assessment, the program with the IMF was supported by a light conditionality matrix and lacked significant structural reform commitments. As such, just meeting the targets was likely not enough to help rebalance the economy in a meaningful and lasting way.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.