FT News Briefing Argentina vs the IMF
Nov 4, 2021
The Federal Reserve plans to reduce its monthly bond-buying, signaling a shift in monetary policy. Meanwhile, the UK seeks Qatar as a new gas supplier amid a crisis. Argentina faces severe economic challenges, with high inflation driving young people to emigrate and complicating debt negotiations with the IMF. The nation’s hardening stance in talks raises concerns about a potential default. In a different arena, renewed talks on the Iran nuclear deal add another layer of complexity to global relations.
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Federal Reserve Tapering
- The Federal Reserve will begin tapering its $120 billion monthly bond-buying program.
- This move signals a shift towards tighter monetary policy to combat inflation and address labor market recovery.
UK-Qatar Gas Deal
- The UK is seeking a long-term gas supply deal with Qatar amid the energy crisis.
- Despite Downing Street's denials, multiple tankers have rerouted from Asia to the UK recently.
Argentina's Economic Crisis
- Argentina faces a severe economic crisis with high inflation and a looming showdown with the IMF.
- A potential default on the IMF loan could have unprecedented consequences, cutting Argentina off from international funding.