***Federico Sturzenegger was born in 1966 in Rufino, an agricultural town of 20,000 in Santa Fe province. Sturzenegger later blamed Peña and the president’s inner circle. J.P. Morgan decided to shed US$800 million worth of Lebac, a short-term bond from the Central Bank, and buy dollars. On that day alone, the Central Bank sold US$1.5 billion to contain the exchange rate, but it wasn’t enough. That first iteration of the agreement barred the Central Bank from using the loan money to contain the dollar exchange rate.

Source: Bueno Aires Herald July 27, 2024 14:59 UTC