Regional News Argentina and the IMF On Friday, the government of Argentina and the International Monetary Fund (IMF) announced an initial agreement regarding Argentina’s $44.5 billion debt. The agreement, which still needs to be approved by Argentina’s Congress, pledged to start reducing the fiscal deficit and cut the Argentine central bank’s financing of the treasury (i.e., “printing money”). The main points of the agreement are:
Goals of reducing the fiscal deficit to 2.5 percent in 2022, 1.9 percent inf 2023, and 0.9 percent in 2024.
Central Bank assistance to treasury to be reduced to 1 percent of GDP in 2022, 0.6 percent in 2023, and near-zero in 2024.
There were no...
Russian Grain Markets: 29 June-3 July 2026 The new marketing season has officially begun in Russia, although bearish sentiment has been concentrated in the southern regions closest to the Black Sea ports, where export demand has been weakest. Delays in grain deliveries to inland elevators have...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
