It took three years, two months and one day for the billionth tweet to be fired off after Twitter began operations in 2009. Now 400m tweets are sent every day, and the figure is rising. But how to monetise that growth? Step forward Latin America, the first big region in the world targeted by Twitter when it decided to roll out its advertising platform last year. Continue reading »
Argentina was prosperous just 100 years ago but it now finds itself outside the club of rich nations. Stephen King, chief economist at HSBC, talks to Long View columnist John Authers about whether other countries should fear an Argentine scenario.
Picasso famously had his blue period. Argentina has its blue dollar – as the black market exchange rate is known. And that’s good news for art collectors and visitors to the ArteBA art fair which kicks off this week.
Managing Argentina’s de facto multiple exchange rates is itself a fine art. But now art itself, among other things, has suddenly become cheap – provided people don’t use the official rate. Continue reading »
Uruguay’s leftist former guerrilla president, José Mujica, is renowned for telling it like it is. Which is why he doesn’t mince his words, in an interview with the Financial Times, highlighting why he is working on port and rail plans with one of his big neighbours, Brazil and, er, nothing with the other, Argentina. Continue reading »
Dollars in Latin America may be the currency that many people think in, but only Ecuador and Panama have them as legal tender. That said, in some countries, some items are priced, and can be paid for, in greenbacks and you can even draw them out of ATMs.
Argentine companies have had few funding avenues open lately. The cost of borrowing has soared, given the country’s ongoing legal battle with US funds seeing full repayment of defaulted bonds, and raising money domestically has become more difficult given that YPF, the nationalised oil company that has been issuing debt like hot cakes in recent months, is crowding out the home market.
When Dilma Rousseff emerged from a meeting with Argentina’s Cristina Kirchner last Thursday, saying that Vale would soon reach an agreement over its $6bn Rio Colorado potash project in the country, some feared the worst.
Argentina has the official dollar, the blue dollar, the sky-blue dollar, the card dollar, and a host of other things in between. But with the unofficial dollar rate at a new high of 9.34 pesos, the Messi dollar could be next.
The gap between that black market rate – known as the “blue” dollar – and the official rate of 5.19 pesos is now above 80 per cent. Continue reading »