Argentina is continuing to work with the International Monetary Fund on a deal to restructure US$ 44 billion in debt owed to the multilateral lender, President Alberto Fernández said Thursday. The Peronist leader delivered the remark via a post on Twitter, following a video call with IMF chief Kristalina Georgieva. “This morning I had a … Read more
In the 99 years since it was founded to pump the oil fields of Patagonia, Argentina’s energy driller YPF SA has been whipsawed by countless booms and busts. If global oil markets weren’t collapsing, it seemed, then Argentina was mired in a debt crisis that was wreaking havoc on the whole nation’s finances. Never, though, … Read more
THE WEEK IN CORONAVIRUS Argentina crossed the grim threshold of 45,000 deaths from Covid-19 on Thursday to close the week at 45,227 deaths and 1,783,047 confirmed cases of contagion since last March. The latest stage of quarantine (still not defined at press time for last Saturday’s edition) ended up delegating new restrictions to the provinces … Read more
Donald Trump departs Washington on Wednesday with US citizens more politically divided and more likely to be out of work than when he arrived, while awaiting trial for his second impeachment – an ignominious end to one of the most turbulent presidencies in American history. Trump intends to leave in the morning for his Mar-a-Lago club … Read more
With a reform of the health system in the air, CGT trade unionists on Tuesday warned about the future of their obras sociales healthcare schemes, even hinting at a possible strike at the end of the month. The CGT, Argentina’s main trade union confederation, held an emergency meeting at the headquarters of the UPCN civil … Read more
Investment firms including Oaktree Capital Management and BlackRock Inc. are organising into two groups to negotiate with YPF SA after the Argentine oil producer proposed a debt swap that would saddle them with losses, according to people familiar with the matter. BlackRock is among a consortium of experienced emerging-market investors such as Ashmore Group Plc … Read more
How long will he last? First, he suffered a last second modification to the 2021 budget which increased the fiscal deficit substantially. Then, he was forced to swallow a sudden change to the formula used to calculate retiree and pension payments, further increasing pressure on already strained government coffers, orchestrated by none other than Senate … Read more
A failure in “high-voltage lines” left more than 300,000 people in Buenos Aires without electricity for four hours on Tuesday. The cut, which affected neighbourhoods in the centre and south of the city, came on a day of oppressive heat and high commercial activity ahead of the Christmas holidays. The blackout “occurred due to an intentional … Read more
Argentine soybean workers reached an agreement on wage talks, ending a strike that had snarled shipments and fuelled a surge in Chicago futures. The deal includes a 35 percent salary increase in 2020, an annual bonus equal to the 2020 salary with the 35 percent raise, an exceptional bonus for the employees who worked during … Read more
As last year drew to a close, a strike by soy-crushing workers that had lasted most of December, crippling agro-industrial exports was settled. This week, world soy prices topped US$ 500 per ton – the highest since 2014. However, a new cloud now looms on the rural horizon over another crop – a farm stoppage … Read more