As the months roll on, the full effects of the Covid-19 pandemic have become clearer across the globe. Without a doubt, among the hardest hit regions has been Latin America. But despite the difficult health situation, banking systems have, so far, responded well to the socio-economic impacts of the crisis.
Few countries in the world can lay claim to having more experience with sovereign defaults than Argentina. Having first failed to pay its debts back in 1827, South America’s second-largest nation has gone on to achieve the undesirable feat on a further seven occasions, with the most recent episode occurring in 2014.
2019 was the year of two consequential free-trade agreements involving Latin American and Caribbean countries: USMCA and EU-Mercosur. How much of a positive impact these South-North agreements will have on especially countries in Latin America and the Caribbean, which have been languishing after the commodity boom, is yet to be seen. But they are likely to be more effectual than the South-South agreements that are in place in the region.
Since taking office in 2015, Argentina President Mauricio Macri has subjected the country to an economic “shock” therapy to try and jumpstart the economy. At first, the economic policy seemed as if it would result in a prompt change in government
The stability of the global economy continues to oscillate between intermittent recovery and general unease, and the new US presidential administration stands at the crux of its ongoing uncertainty. Various international incidents have influenced the condition of the global economy—the ongoing Brexit saga
In 2015, President Mauricio Macri took charge of Argentina’s economy, which was failing on multiple fronts, after promising swift and decisive action to address the nation’s problems. The results have been encouraging, and the South American country appears poised to finally shake itself from its debilitating economic malaise.
“A new era is coming. One of dialogue, construction and teamwork. I am convinced that if we Argentines unite, we’ll be unstoppable. Let’s go, Argentina!”
In the aftermath of the global financial crisis, it became clear that banking resolution was one of the key aspects of the necessary reform of financial regulation, with the objective of reducing the cost of banking crises and avoiding the use of taxpayers’ money. In the case of global banks, the cross-border dimension added a new layer of complexity to these debates.
Tourists are pouring onto the streets of Buenos Aires, the Mendoza Wine Regions and other popular Argentinian destinations amid a ban on Argentine citizens buying or holding United States’ Dollars. According to government immigration figures, the number of tourists travelling to