Weekly Report - 24 October 2013 (WR-13-42)

ARGENTINA | BCRA reserves continue to fall. International reserves have hit a new six-year low of US$34.27bn, the central bank (BCRA) revealed on 18 October, falling below the level observed in 2007 before President Cristina Fernández first assumed office. This as the BCRA appears to be unable to stop the haemorrhaging of funds it has been experiencing in recent years as result of the convoluted foreign currency exchange policies adopted by the Fernández administration.