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Argentina launches $2 billion repurchase agreement to boost reserves

Argentina launches $2 billion repurchase agreement to boost reserves

Reuters09-06-2025
BUENOS AIRES, June 9 (Reuters) - Argentina's central bank will launch a repurchase agreement of up to $2 billion, known as a REPO, to boost its foreign reserves, it said on Monday.
The deal - announced alongside other measures to increase the central bank's reserves - comes ahead of an expected review with the International Monetary Fund (IMF) of the country's recently signed $20 billion loan agreement.
Argentina needs to boost its reserves ahead of the review, and has said it will not purchase dollars locally to do so. On Monday, the bank reported $38.60 billion in reserves, short of the $40 billion needed.
The REPO deal is set for Wednesday, the central bank said in a statement.
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Five essential things to know before you board an Oceania Cruises' ship
Five essential things to know before you board an Oceania Cruises' ship

Telegraph

time3 hours ago

  • Telegraph

Five essential things to know before you board an Oceania Cruises' ship

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Can Labour 'absolutely' overtake the SNP for Holyrood 2026?
Can Labour 'absolutely' overtake the SNP for Holyrood 2026?

The Herald Scotland

time16 hours ago

  • The Herald Scotland

Can Labour 'absolutely' overtake the SNP for Holyrood 2026?

'Absolutely, we are,' Ms Reeves proclaimed when asked if her party was in a position to unseat the SNP. 'We won in Scotland last year and we won well,' she said. But a lot has happened since that big win at the General Election over a year ago. It's been only a matter of weeks since her government's spectacular unravelling of plans for the benefits system and the Chancellor could now be left at risk of breaking her own fiscal rules amid trade wars, the International Monetary Fund (IMF) has warned. So, what's her cause for confidence? Well, other than not wanting to appear weak, the Chancellor claims it is because of how UK Labour are delivering for Scotland. READ MORE: Chancellor refuses comment on rape clause fairness Chancellor faces fiscal risks and 'significant challenges' amid trade war – IMF 'Transport boost' expected during Reeves' trip to Scotland At the Rolls Royce plant in Inchinnan on Friday, she got on her safety goggles to prove that a focus on defence was crucial. The Chancellor told journalists that morning Rolls Royce joins other companies across the country like Babcok in Rosyth who are benefiting from the Labour government's investment in the defence sector. It's estimated the government will spend over 2.6% of GDP in the industry in 2027. 'Good jobs and prosperity' mixed in with the ability to say the SNP did not back this funding appears to be a winning strategy for Ms Reeves. But evidence of this being successful remains to be seen as Labour is consistently trailing behind the [[SNP]] in the most recent polls for Holyrood 2026. Following the Chancellor's visit, pollster Scott Edgar from Diffley Partnership told The Herald the path to victory for Labour in Scotland looks "steep" but they have been comforted by one recent win. The senior research manager said: "Labour continues to trail the SNP in national polling, and the path to forming a government at Holyrood remains a steep one. "If the election were held now then the strong likelihood is that the SNP would be the largest party, albeit a long way short of having a majority. However, the recent by-election result in Hamilton, Larkhall and Stonehouse will have offered Labour encouragement which they will hope can give them some much needed momentum. "We are still 9 months out from the election and if Labour can carry any momentum forward, there may yet be an opportunity to move the dial nationally." At the start of this month, an Ipsos poll suggested the SNP is currently leading on Scottish Parliament voting intentions, with 34% of voters saying they would vote for the party. Meanwhile, Labour have fallen out of favour with many Scottish voters while in government at Westminster, with 22% now saying they would vote for the party, 13 points lower than the party achieved last July. In contrast, Reform UK are very much on the up, with a 16% vote share putting them 9 points higher than the 7% they achieved at the General Election. UK Labour's leadership is also not going down well north of the border. Keir Starmer's approval rating among Scots is at an all-time low as he marks one year as Prime Minister, according to the polling. Only 22% of the Scottish public are satisfied with the way Starmer is doing his job, giving him a net-satisfaction rating of -42 in Scotland. And it is not just amongst the public where discontent lies but within the Prime Minister's own ranks. The recent internal party split over welfare reforms left Labour MPs critical of the leadership from 10 Downing Street.

IMF board approves Zambia programme review, unlocking about $184 million
IMF board approves Zambia programme review, unlocking about $184 million

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time21 hours ago

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IMF board approves Zambia programme review, unlocking about $184 million

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