The investment amounted to US$52 million, characterized as the “most modern of its kind, worldwide, with cutting-edge sustainable technology,” as stated in the official announcement. In October 2022, Whirlpool inaugurated a new washing machine production facility in Pilar, Argentina. Last week, just over three years later — and two years into the presidency of libertarian … Read more
Argentina has declared its desire to issue a local law bond denominated in dollars, taking advantage of the momentum that has been created in the wake of President Javier Milei’s resounding victory in the congressional midterm elections that were held in October. The Ministry of Economy has said that the Bonar bond is scheduled to … Read more
Argentina’s Economy Ministry announced on Friday the issuance of a local-law bond denominated in U.S. dollars, aimed at addressing the debt maturities scheduled for January. The newly issued bond, designated as BONAR 2029N, is set to be tendered on December 10, with a maturity date in 2029 and a semiannual coupon rate of 6.5%. The … Read more
Poverty and destitution in Argentina have seen a notable decline over the past year; however, the current levels still exceed those reported by official statistics, according to a credible watchdog. A report released on Thursday by the Social Debt Observatory of the Argentine Catholic University indicates that poverty was recorded at 36.3 percent, while extreme … Read more
The administration of Javier Milei has been instructed by the International Monetary Fund to increase its foreign reserves. This comes with the acknowledgement that Argentina will face “difficulties” in meeting its year-end accumulation target. Julie Kozack stated, “At this stage, meeting the end year reserve target will be challenging. Nevertheless, it is of the utmost … Read more
Argentina and Poland are nearly “a perfect match” and ought to leverage the prevailing global tensions to enhance cooperation and increase trade, according to the deputy foreign minister of the European nation. “As global unpredictability increases, conflict looms at Poland’s threshold. Global trade is experiencing notable shifts and emerging threats, with Poland and Argentina positioned … Read more
Elon Musk’s Starlink Internet service and Argentine telecommunications provider Telecentro have announced the extension of their strategic alliance. In a span of 15 days, the two companies are set to implement mobile Internet connections and deploy 300 antennas at 300 rural educational institutions throughout Catamarca Province. Additionally, they will connect 113 schools in the Puna … Read more
The INDEC, provided an explanation of its methodology for calculating economic activity figures for September, revealing growth despite widespread expectations among economists of an impending recession. Source indicated that the rise was primarily attributable to a statistical correction stemming from its seasonal adjustment methodologies and the robust performance of the financing sector. The incorporation of … Read more
The diplomatic pivot of the Javier Milei administration towards Washington presents a strategic opportunity for US President Donald Trump to begin diminishing China’s influence in Latin America. Scott Bessent, serving as Treasury Secretary under Trump, articulated this within the framework of mobilizing financial support: “Milei is committed to getting China out of Argentina,” he stated … Read more
Sales of Argentine wine, both domestically and internationally, are experiencing a decline, reflecting a broader global trend and coinciding with the overall decrease in consumption within the country. The national government has removed nearly 1,000 regulations and norms for the winemaking and grape farming sector, a decision intended to enhance sales. This initiative has elicited … Read more