The UN Economic Commission for Latin America and the Caribbean on Wednesday slashed its projection for the region’s GDP fall for 2020 from 9.1 to 7.7 percent. ECLAC said the gradual reopening of economies shut down to combat the coronavirus pandemic and financial help for families and businesses, especially in the region’s largest economy Brazil, … Read more
Shunned in global financial markets, Argentina is seeking about US$ 5 billion for next year from multilateral organisations other than the International Monetary Fund as it negotiates a larger refinancing programme with the Washington-based lender, according to three people familiar with the plans. Alberto Fernández’s administration is looking to institutions including the Inter-American Development Bank … Read more
A strike that’s snarled Argentina’s soybean industry will continue during the Christmas holidays, further delaying 170 ships currently waiting at ports. Soybean crushers at export plants agreed to extend a strike over wages during the Christmas season, according to a statement on the website of union group Federacion Aceitera. The strike, which has been going … Read more
This fourth edition of our annual review, compiled entirely from material from this newspaper, appears for the first time at the start of January rather than the end of December, thus looking back through the rear mirror at a year most people will want to leave behind. We can all agree that 2020 needs little … Read more
YPF SA plans to sell its iconic office tower in the heart of Buenos Aires as Argentina’s state oil company looks to boost resources to continue drilling amid an industry slowdown, according to a person familiar with the matter. The value of the 33-story glass-clad tower, from which executives enjoy panoramic views of the Río … Read more
The government on Saturday published a decree proposing the setting of limits on the movement of people and nighttime activities, part of a move to lower Covid-19 infections in Argentina. As previously reported, the filing in the Official Gazette did not lay out a specific timeframe, leaving it up to provincial and regional leaders to … Read more
The government has reversed its decision to set a limit on corn exports to guarantee domestic supplies and pledged instead to monitor supplies more closely. The decision was confirmed by the Agriculture, Fisheries & Livestock Ministry in a statement Tuesday. Government officials will hope the move will lower tensions with the powerful agricultural sector, with … Read more
Argentina’s chaotic reversal on corn exports could hurt its standing among the world’s top grain suppliers as buyers get exposed to the unpredictability of government feuding. The South American powerhouse food provider ditched moves to intervene in shipments – first through a ban and then a daily cap – after ceding to the might of farmers and … Read more
A week of agricultural tensions for the government ended in another dramatic U-turn this week, with producers and officials agreeing to further dialogue as a result. Agricultural producers began a three-day strike on Monday in rejection of the government’s decision earlier this month to suspend maize exports until March 1. The so-called ‘paro agrario’ went … Read more
The charts of Argentina’s 2020 Budget include an infinity of items and numbers explaining what the State spends its funds on, which mostly come from tax revenue. They range from 3.189 billion pesos in travel expenses or 408 million pesos in cleaning materials, to 1.245 billion pesos in computer programmes or 60 million pesos for … Read more