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Intel Argentina

  • Chaos in Argentine banks as crowds tried to collect government assistance

    “The situation was overwhelming,” central bank chief Miguel Pesce. “We're facing a situation that's unprecedented around the world, there isn't a guide to handling this situation.”
    Argentines left their homes in droves as banks reopen their branches to give out government assistance. Thousands of pensioners and citizens who receive government welfare lined up outside banks to get their monthly payments. Branches, which have been closed since a nationwide lockdown began March 20, reopened Friday so that citizens who can’t receive the payments on debit could receive the cash.

    Posted: by Merco Press Argentina News

  • Moody's downgrades Argentina's credit rating

    Moody’s said the rating reflects the combination of measures such as extension to maturities, lowering of interest rates and cuts to principal amounts of debt
    Moody’s downgraded Argentina’s credit rating on Friday, cutting it to Ca from Caa2 in a move that reflects the firm’s expectation that private creditors will incur losses as a result of the government’s efforts to restructure its sovereign debt.

    Posted: by Merco Press Argentina News

  • World Bank US$ 35 million emergency loan for Argentina to combat coronavirus

    Health Minister, Ginés González García said the resources will support provincial health schemes and deliver medical equipment
    The World Bank Board of Directors today approved a US$ 35 million emergency loan to support the Argentine government efforts to minimize the impact of the COVID-19 pandemic on the health system through the procurement of medical supplies and equipment. This financing forms part of a World Bank fast track package of up to US$ 14 billion to help countries cope with the health and economic impacts of the COVID-19 pandemic.

    Posted: by Merco Press Argentina News

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