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Mar 23, 2015

U.S. court authorizes Citigroup to process Argentine bond payments

BUENOS AIRES, March 22 (Reuters) – Citigroup Inc said
it has been authorized by a U.S. judge to process two Argentine
debt payments, which could ease tensions between the bank and
the default-hit nation.

The U.S. bank, which acts as custodian of some Argentine
bonds, has been embroiled in a court battle between the South
American country and a group of New York-based hedge funds
seeking full payment on their defaulted sovereign bonds.

Mar 9, 2015

Argentina considers income tax change in pay talks with unions

BUENOS AIRES, March 9 (Reuters) – Argentina’s government is
considering raising the minimum threshold on income tax as a
sweetener in salary talks with trade unions to avoid unruly
protests in the run-up to October’s ‘s presidential election, a
senior government official said.

Inflation surged about 35 percent in 2014, private
economists estimate. A similar pay hike for public workers would
strain the government coffers, meet resistance from private
companies and stoke inflationary pressures amid a stagnant

Feb 27, 2015

Argentina to purge disloyal spies from intelligence agency: sources

BUENOS AIRES (Reuters) – Argentina’s government will purge spies it no longer trusts from the state intelligence agency as part of a major overhaul of the security body, sources familiar with embattled President Cristina Fernandez’s thinking said.

The move comes after lawmakers passed a law on Thursday disbanding the former Intelligence Secretariat, or SI, parts of which Fernandez has portrayed as sinister and out of control, and established a new agency.

Feb 27, 2015

Argentine judge says no evidence government tried to derail bombing probe

BUENOS AIRES (Reuters) – There is no evidence that President Cristina Fernandez tried to whitewash Iran’s purported involvement in a deadly 1994 bombing, an Argentine judge told Reuters in an interview on Thursday after dismissing the case.

On the contrary, the evidence suggested “the government exhausted all possibilities to enable the investigation into the AMIA (Jewish community centre) attack to advance”, said Judge Daniel Rafecas, who showed Reuters copies of the evidence.

Jan 22, 2015

Spies, lies and death: plot thickens in Argentine scandal

BUENOS AIRES (Reuters) – Alberto Nisman was working hard preparing for a congressional hearing on his claim that Argentina’s president tried to whitewash Iran’s involvement in a bombing attack that killed 85 people, a make-or-break day in his career as prosecutor.

    In the spotlight since leveling his hefty accusations last week, Nisman needed to make a convincing case, based on a decade of work with spy agencies around the world.

Oct 1, 2014

Argentina central bank chief quits, raising policy uncertainties

BUENOS AIRES, Oct 1 (Reuters) – Argentina’s central bank
chief resigned on Wednesday after a long tussle with the Economy
Ministry and was replaced with a regulator considered
sympathetic to the interventionist stance of a government
battling one of the world’s highest inflation rates.

The move drew a sharp negative reaction in financial
markets, with the price of Argentina’s local U.S.
dollar-denominated bonds skidding.

Jul 16, 2014

More Argentine grains workers strike in pivotal export hub

BUENOS AIRES, July 16 (Reuters) – Port workers in
Argentina’s Rosario hub began an indefinite strike on Wednesday,
joining grain inspectors, who walked out a day earlier and
threatening exports from the world’s No. 3 exporter of soybeans
and corn.

Strikes and labor disputes are common in Argentina, Latin
America’s No. 3 economy, which has one of the world’s highest
inflation rates and a depreciating currency, both of which are
eating into buying power. Argentine unions have hunkered down
for a tough round of wage talks.

Nov 4, 2013
via MacroScope

The limits of Federal Reserve forward guidance on interest rates

The ‘taper tantrum’ of May and June, as the mid-year spike in interest rates became known, appears to have humbled Federal Reserve officials into having a second look at their convictions about the power of forward guidance on interest rate policy.

Take James Bullard, president of the St. Louis Fed. He acknowledged on Friday that the Fed’s view of the separation between rates guidance and asset purchases had not been fully accepted by financial markets. “This presents challenges for the Committee,” he noted.

Oct 18, 2013
via MacroScope

Congress “smashed the instrument panel” of U.S. economic data: Fed’s Fisher

Richard Fisher, president of the Dallas Federal Reserve and one of the U.S. central bank’s arch inflation hawks, took us by surprise this week – he told Reuters that, given all the uncertainty generated by the government shutdown, it would not be prudent for the Fed to reduce its bond-buying stimulus this month.

“It is just too tender a moment,” he said. That was on Tuesday, before a last-minute deal averted a debt default but set up additional uncertainty by pushing the statutory spending cap into February.

Oct 10, 2013

Thrust into crisis, Bernanke tested bounds of Fed policy

WASHINGTON (Reuters) – Ben Bernanke spent his whole life training for the job of Fed chairman – even if he didn’t know it at the time.

One of the Great Depression’s most prominent scholars, Bernanke inherited a historic slump of his own not long after taking the helm of the Federal Reserve eight years ago.

    • About Pedro

      "Pedro da Costa has been covering economics and financial markets since 2001. He is currently based in Washington and focuses on the Federal Reserve and macroeconomic policy. Da Costa earned a Master's in international relations at the University of California San Diego and studied sociology and political science as an undergraduate at the University of Chicago and the London School of Economics. He grew up in Rio de Janeiro, Brazil."
      Joined Reuters:
      English, Portuguese, Spanish, French
      2011 Deadline Club Award from the Society of Professional Journalists' New York Chapter
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