HomeEconomyIMF lowers threshold for Argentina's reserves forecast Economy IMF lowers threshold for Argentina's reserves forecast By farahat April 2, 2023 0 79 views Share FacebookTwitterPinterestWhatsApp JPM +1.% Add to/Remove from Watchlist Join the watch list Add Job Location successfully added to: Please name your portfolio type: purchaseSell date: quantity: price Integral value: Leverage: 1:1 1 : 1: 1: Rodrigo Campos and Jorgeline Doro Sario NEW YORK (Reuters) – The International Monetary Fund’s (IMF) executive board approved changes to the currency that Argentina set in its $ Reserve accumulation target billion-dollar plan as the agricultural powerhouse faces a severe drought that has hit exports and economic growth. The goal of relaxing the reserve is the country’s $ part of the 4th review expectations of economic performance. The IMF board “approved the revised reserve requirement,” the fund said in a statement, without elaborating on the new target. The target reserve change lowers the barriers for South American economies to pass future IMF reviews. According to the fund, the current review is based on Goal, “got some margin”. But Argentina’s central bank sold its largest monthly dollar selloff since October in March , which puts pressure on further accumulation of foreign exchange 11 as it struggles to support the local peso currency. Argentine peso pegged to dollar falls % exchange rate against USD this year. On Friday, JPMorgan Chase (NYSE: 200JPM ) further downgrades the Views on Argentina’s economic growth this year, with GDP expected to contract by 2.3%, citing a more severe impact from a recent, less severe drought. “A recent revision indicated that the agricultural production ratio 100,” JPMorgan’s note read. Argentina is the world’s largest exporter of soybean oil and soybean meal, and the third largest exporter of corn. Exports are its main source of foreign exchange earnings. A government official said Thursday that the country will A preferential exchange rate for farmers will be introduced from next month to encourage exports of soybeans, a major cash crop, and other products. IMF review includes “abandonment of non-compliance related to introduction of policy measures leading to new foreign exchange restrictions and multi-currency practices” . 267 Share FacebookTwitterPinterestWhatsApp Previous articleQuinta Brunson calls for paying teachers 'the money they deserve' in 'Saturday Night Live' opening monologueNext articleJudge places must-see barriers in midfield farahat RELATED ARTICLES Economy Headline inflation in Thailand falls to lowest in 21 months in May June 6, 2023 Economy Japan April wages rise after spring labor talks June 6, 2023 Economy OpenAI CEO sees Israel playing 'tremendous' role in de-risking tech June 5, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS OnePlus Nord N30 5G unveiled: Snapdragon 695 SoC, 108MP camera and 5,000 mAh battery June 6, 2023 Pepecoin Frenzy Fades: How Meme Token’s Price, Market Cap Were Cut In Half June 6, 2023 Ethereum Price Bearish Breakdown – Why Drop Isn’t Over Yet June 6, 2023 Bitcoin Price Nosedives Below Support As Bears Target $25K June 6, 2023 Load more Featured NEWS XRP Signals Considerable Uptick – Will Social Media Lift Its Price Past $0.34? August 21, 2022 Apple says it will fix iPhone 14 Pro (Max) camera shake next week September 20, 2022 UFC 278: Paul Costa beats Luke Lockhold in wild, wacky, exhausting event | VIDEO August 23, 2022 Former Studiocanal Exec Isabel Hund of the Legendary-Tobis German joint venture is the new CEO November 2, 2022 Load more
