IMF’s reputation on the line in Argentina

Argentine assets have stabilised somewhat in recent weeks, with the country’s central bank now allowed to use IMF resources to intervene in the peso. But many analysts and investors are concerned that the programme is fraying and could collapse if the populist opposition, led by former leftist president Cristina Fernández de Kirchner, wins the presidential election in October. A victory would be devastating for the IMF given its strong backing of Mr Macri.

Industrial activity fell beyond 9% by the first quarter of 2019

The industrial activity fall beyond 9% during the first quarter of 2019, according to preliminary data from the Argentine Industrial Union (UIA). The data also show that all industrial sectors in the country registered a fall in their activity. Low demand, high interest rates and the current export schemes are among the main reasons for the fall.