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Econ Minister To Meet With IMF Official After Biden Meeting Postponed

ARGENTINA
  • A long-awaited meeting that was set for next Tuesday between US President Joe Biden and his Argentine counterpart, Alberto Fernandez, has been postponed due to Biden’s positive Covid-19 test late last week.The delay marks a symbolic setback for Fernandez, who has sought an in-person bilateral meeting with Biden since the US leader took office.
  • Argentina Economy Minister Silvina Batakis will meet with International Monetary Fund Managing Director Kristalina Georgieva in Washington after the postponement of President Alberto Fernandez’s meeting with President Joe Biden.
  • Argentina's debt sank deeper into distressed territory on Friday, in just the latest week of sour financial news led by a battered currency, highlighting growing doubts about the near-term prospects for Latin America's third biggest economy. [RTRS]
    • The peso currency hit fresh record lows this week on a daily basis, trading in the parallel black market at nearly 350 per U.S. dollar on Friday, down nearly 4% from the previous day, according to private traders.
    • "The government is trying to do the bare minimum to preserve the IMF agreement, showing some fiscal restraint, a timid rate hike, a faster depreciation pace, more financial repression and import controls," according to a BTG Pactual research note published on Friday.
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