Argentina raises rates for first time since 2020
BCRA raises benchmark rate 200 basis points, as IMF talks continue
Argentina’s central bank (BCRA) raised its policy rate by 200 basis points on January 6, to 40% in its first rate hike since November 2020.
The move comes as Argentine authorities continue their talks with the International Monetary Fund over the repayment of its massive 2018 loan. IMF figures show that Argentina owes the Fund about $42.6 billion over the next three years.
The BCRA introduced a new bond, a version of the existing letters of liquidity (Leliq) with a 180-day maturity. It carries
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