LatinNews Daily - 20 October 2020

* Argentina’s economy minister Martín Guzmán has announced new measures to reduce foreign exchange pressures. According to an economy ministry press release, as part of the reordering of the regulatory scheme, Argentina’s securities regulator, the Comisión Nacional de Valores (CNV), will reduce the holding period (known locally as ‘parking’) for trading securities from five days down to three; and facilitate the intermediation process to increase liquidity of local instruments. The central bank (BCRA) will also facilitate the sale of securities in the local market, while the economy ministry announced that it would issue new US-dollar denominated bonds worth US$750m on 9 and 10 November. The measures have been well received by Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), with which Argentina has begun talks over its outstanding debt. Georgieva  tweeted: “Great talking with [Guzmán] on Argentina’s road ahead: we’ll continue to support the authorities as they work towards easing foreign exchange pressures, anchoring economic stability, and laying the foundations for recovery”.

End of preview - This article contains approximately 165 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial