News of economy

Ishii interviewed by Jorge Fontevecchia.

INTERVIEW / PERIODISMO PURO

Mario Ishii: 'By late August we’ll be where we were in 2001'

Today 09:01 Mario Ishii, the mayor of José C. Paz, discusses the impact of the coronavirus crisis on one of the poorest districts in Greater Buenos Aires. The social situation, he warns, could be about to explode.

Guzman said this offer was Argentina’s “final offer” and refused to rule out sealing a deal with only some of the creditors.

DEBT RESTRUCTURING

‘Final’ offer on table as debt talks enter critical stage

Today 08:54 Argentina formalises latest debt bond swap proposal, filing offer with SEC and extending deadline to August 4.

Demonstrations on Thrusday 9th July.

THE WEEK

What we learned this week: July 4 to July 11

Today 08:39 Stories that caught our eye over the past seven days in Argentina.

President Lenín Moreno’s administration struck an agreement with some of its top bondholders this week. By contrast, Argentina has presented a second binding offer to creditors after pushing back its deadline five times.

BLOOMBERG

Ecuador’s speedy debt deal underscores Argentina’s hang-ups

Yesterdat 17:31 President Lenín Moreno’s administration struck an agreement with some of its top bondholders this week ahead of a mid-August deadline, when a moratorium on payments ends. By contrast, Argentina has presented a second binding offer to creditors after pushing back its deadline five times.

EU Ombudsman Emily O’Reilly.

EU-MERCOSUR TALKS

EU watchdog opens probe into Mercosur trade deal

Yesterdat 12:16 EU Ombudsman Emily O’Reilly confirms investigation will be opened into historic trade deal with Mercosur, after environmental and rights groups complained that the deal does not respect the EU’s legal obligations.

A man waves the Argentine flag during a protest against President Alberto Fernández health policies and the tightened virus lockdown measures against the spread of the Covid-19 coronavirus, in Buenos Aires on July 9, 2020.

#9J: Día de la Independencia

Anti-government protesters rally against quarantine on 9 de Julio

Yesterdat 02:18 Opposition supporters descended on the Obelisk in downtown Buenos Aires on Thursday, staging a protest in defence of freedom and against the coronavirus lockdown. Event marred by outbreak of violence, as demonstrators attack TV van from pro-government news channel C5N.

In this file photo taken on May 26, 2020, a Latam airlines plane sits on the tarmac at Santiago International Airport.

AIRLINES & AVIATION

LATAM secures new financing to help stave off bankruptcy

09-07-2020 17:47 Latin America's biggest airline says it has secured US$1.3 billion in financing from a US investment fund to help it survive the aviation industry crisis brought on by the coronavirus.

Economy Minister Martin Guzmán.

DEBT RESTRUCTURING

Guzmán rules out changes to offer, but creditors say proposal 'falls short'

09-07-2020 02:37 Economy Minister Martín Guzmán rules out further changes to government's debt restructuring offer as offer wins support from IMF and some G20 finance ministers. Large creditors, however, aren't impressed.

Malbec grapes.

BLOOMBERG

Malbec bonds beat defaulted Argentine peers on investor hope

09-07-2020 02:26 A glimmer of hope is lurking within Argentina’s default-ravaged debt landscape: Bonds sold by Mendoza, the Andean-bordering province famed for exports of full-bodied Malbec wine.

Stephen Walt talked to Perfil's Leandro Dario in an exclusive interview.

INTERVIEW

Stephen Walt: 'The pandemic has hurt the United States more than China'

08-07-2020 23:03 Stephen Walt, professor of international relations at Harvard University, says that Americans are sick of Trump. "If the rivalry between the US and China continues to intensify, South America will probably have to pick sides," he warns.

by Leandro Dario

Economy Minister Martín Guzmán.

DEBT RESTRUCTURING

This is Argentina's final debt offer, Guzmán tells creditors

08-07-2020 17:33 Economy minister describes talks as "a cold shower of reality for creditors," as they've come to realise Argentina's limitations.

A pedestrian wearing a protective mask walks in front of the Casa Rosada in Buenos Aires.

DEBT RESTRUCTURING

Favourable initial reaction to Argentina's new debt swap offer

08-07-2020 16:58 Two investment funds, Gramercy and Fintech Advisory, express approval for Argentina's new debt restructuring offer. Creditors entering the swap stand to obtain 53.5 cents for every dollar loaned as against 39 cents in the first offer rejected by most creditors.

Foreign Ministry officials meet with executives from Huawei.

TECHNOLOGY

Argentina holds talks with Huawei over adoption of 5G technology

08-07-2020 15:29 Government holds talks with Chinese telecommunications giant Huawei as it explores options for the adoption of advanced 5G technology.

Local farmers are concerned about the outlook for wheat.

BLOOMBERG

Puzzling wheat prices raise fears of manipulation in Argentina

08-07-2020 00:34 Farmers in Argentina are worried that wheat price anomalies are a sign the government is starting to meddle in grain markets just months into its four-year term.

President Alberto Fernández.

DEBT RESTRUCTURING

Government files new debt restructuring offer with SEC

07-07-2020 14:04 Argentina formally presents its new proposal to the US Securities and Exchange Commission, extending deadline for acceptance to August 4.

Ecuador reached a preliminary agreement with some of its largest bondholders to restructure US$17.4 billion in outstanding debt, reducing the nation’s obligations significantly over the coming decade.

BLOOMBERG

Ecuador reaches debt deal in principal with major creditors

07-07-2020 02:15 President Lenín Moreno's government reaches preliminary agreement with bondholders to restructure US$17.4 billion in outstanding debt.

Buildings stand in the Puerto Madero neighbourhood of Buenos Aires.

BLOOMBERG - OPINION

Mohamed A. El-Erian: Argentina's debt proposal deserves support

07-07-2020 01:35 It would be in neither side's long-term interest to allow the theoretical best to be the enemy of the attainable good – what is now on the table warrants support by both Argentina and its creditors.

President Alberto Fernández.

BLOOMBERG

Argentina’s ‘last’ debt offer extends proposal to August 4

05-07-2020 22:45 The proposal seeks to reduce creditor losses on the bonds’ principal, increase coupons and shorten bond maturities, according to a release published Sunday evening.

The Argentine government is still working on a debt agreement.

DEBT RESTRUCTURING

Fernández: New offer to creditors on way, deadline moved to August 4

05-07-2020 22:10 Argentina to present new offer to bondholders on Monday, with deadline extended until August 4.

Vicentin’s credit-fuelled expansion in recent years helped it fend off multinationals like Bunge Ltd and Cargill Inc to be Argentina’s top exporter of the products.

BLOOMBERG

Creditors allege Vicentin soy giant siphoned off US$400 million

05-07-2020 08:10 Banks are asking a New York judge to subpoena more documents from bankrupt soy-export giant Vicentin, saying there may have been “major international financial impropriety” that saw US$400 million drained from the firm.

Women jog with a dog along Pocitos' Rambla as a double rainbow appears during sunset over Montevideo.

GLOBAL PANDEMIC

Uruguay rides out Covid threat without imposing a lockdown

04-07-2020 09:30 "Freedom with responsibility" has been the name of the game in Argentina’s small neighbour – the country has less than 1,000 registered cases and less than 30 deaths.

Guzman's debt restructuring talks are still being questioned but the minister retains confidence of President Fernandez.

DEBT RESTRUCTURING

Casa Rosada dismisses rumours of Guzman’s departure

04-07-2020 09:06 BlackRock, other creditors, big businessmen and ministers are questioning the economy minister’s approach to debt restructuring talks, but Guzmán retains the confidence of Alberto Fernández and Cristina Fernández de Kirchner.

Controls for access to the City of Buenos Aires.

THE LAST SEVEN DAYS

What we learned this week: June 27 to July 4

04-07-2020 08:40 Stories that caught our eye over the last seven days in Argentina.

View of the iconic Palacio Salvo with the city of Montevideo in the background.

FISCAL PARADISE?

Uruguay’s new tax residence rules spark interest among Argentines

04-07-2020 08:24 Seeking to attract immigrants with high purchasing-power, Uruguay has relaxed its fiscal residence requirements – triggering a rush of consultations from Argentines.

Latin America is a region where the US and China settle their differences.

ANALYSIS

Sino-American dispute a looming threat for Argentina and Brazil

04-07-2020 07:57 The relationship between Buenos Aires and Brasilia is in intensive care and the lack of coordination between the two governments exposes the region to an external vulnerability – becoming a place where the US and China settle their differences.

by Leandro Dario

President Alberto Fernandez (right) and his Foreign Minister Felipe Sola take part in the first Mercosur Summit held via video conference due to the Covid-19 pandemic.

MERCOSUR’S VIRTUAL SUMMIT

Mercosur vows unity in face of pandemic, as Macron cools on trade deal

04-07-2020 07:49 President Alberto Fernández calls for unity in face of the coronavirus pandemic during virtual summit, as reports in France suggest Emmanuel Macron has gone cold on Mercosur-EU trade deal.

The Puerto Madero neighbourhood in Buenos Aires, pictured at night.

DEBT RESTRUCTURING

Two creditor groups mull 'lock-up' to oppose government's offer

03-07-2020 03:47 The Ad Hoc and Exchange Bondholder groups are closely watching to see if the government submits an offer that it has discussed with a third creditor group – the Argentina Creditor Committee – and would reject it.

A woman passes by closed stores in the commercial neighbourhood of Once.

Coronavirus pandemic

Cold, windswept and frozen, Buenos Aires returns to isolation

03-07-2020 03:37 On a chilly winter Wednesday, a lonesome Buenos Aires reverted to the first and most restrictive phase of the quarantine, in a renewed bid to halt the advance of Covid-19.

The Iguazu falls, as seen from the Brazilian side on the border with Argentina, near Foz do Iguaçu, on June 4, 2019.

TRAVEL & TOURISM

Pandemic to deliver 'unprecedented' blow to tourism in Latin America, Caribbean

02-07-2020 03:21 Coronavirus pandemic to deliver "unprecedented blow" to tourism in Latin America and the Caribbean, the Inter-American Development Bank warns.

Handout picture released by Presidency showing an aerial view of vehicles queueing at a checkpoint at La Noria bridge, over the Riachuelo in Buenos Aires.

Coronavirus pandemic

New phase of stricter lockdown begins in Buenos Aires

02-07-2020 00:17 Officials said Wednesday that the new measures were working well – the Buenos Aires City government said that on Wednesday 107,000 vehicles had used the capital's highways, a 33 percent drop from one week ago.

Mexican housekeeper Dolores Sánchez, 35, poses for photograph at her home in Mexico City. In March, when the new coronavirus outbroke in latin America, many domestic workers were sent home without payment, others were laid off and others confined in the homes where they work.

BLOOMBERG – OPINION

Covid-19’s toll will rewrite Latin America's future

01-07-2020 23:22 The multiple crises assailing Latin America might not go entirely to waste, but to achieve lasting salutary change, the region must address the systemic vulnerabilities laid bare by the pandemic.

by Mac Margolis

Shoppers line up alongside a newly re-opened toyshop in Buenos Aires.

DEBT RESTRUCTURING TALKS

Government weighs earlier coupon payments as debt talks stall

30-06-2020 19:09 Argentina is considering paying coupons sooner than previously announced, as it aims to close a gap with creditors in debt restructuring talks, according to people with knowledge of the matter.

View of Nahuel Huapi lake and the Andes during the lockdown imposed by the government to slow the spread of the Covid-19 coronavirus, in Bariloche, Rio Negro, Argentina, on June 24, 2020.

Coronavirus in Patagonia

Bariloche covered in snow but stripped of tourists, thanks to Covid-19

30-06-2020 17:37 Snow has fallen in Bariloche, but the streets and slopes are quiet in the famed tourist destination. Local businesses estimate that losses this month alone will be around 3.6 billion pesos (about US$48 million).

Porteños walk the streets just off Avenida Santa Fe in Buenos Aires City.

DEBT RESTRUCTURING

Argentina's creditors urge officials to move ahead on debt talks

30-06-2020 15:10 Creditors groups call for progress on talks, saying the "lack of serious engagement from the Argentine authorities is deeply concerning."

Picture of a cloudy sky over Montevideo taken on May 15, 2020 amid the Covid-19 novel coronavirus pandemic.

BLOOMBERG – ANALYSIS

In midst of Covid chaos, Uruguay is getting it right

30-06-2020 12:50 Uruguay has become an oasis in the middle of a Covid-19 storm.

In this Monday, May 11, 2020 file photo, a waiter carries beers for customers sitting at a terrace bar in Tarragona, Spain. The European Union announced Tuesday, June 30, 2020 that it will reopen its borders to travelers from 14 countries, but most Americans have been refused entry for at least another two weeks due to soaring coronavirus infections in the United States.

Global pandemic

EU reopens its borders to 14 nations but not to US tourists

30-06-2020 12:33 European Union to reopen borders to travellers from 14 countries, and possibly China soon, but most US citizens have been refused entry for at least another two weeks.

View of the illuminated Piramide de Mayo in Buenos Aires on June 28, 2020.

ECONOMIC INDICATORS

Argentina's economy tanked in April as virus hit home

30-06-2020 12:33 Construction was the worst hit industry, plummeting 86.4%, with hotels and restaurants not far behind (down 85.6%). Manufacturing, down 34.4%, and business, which lost 27%, were also hard hit.

A street cleaner works on the streets of Buenos Aires, during the coronavirus lockdown.

BLOOMBERG

Economy plunges more than expected after lockdown

29-06-2020 23:10 Economic activity fell 17.5% in April from the previous month, and 26.4% from a year ago, the government reported Monday.

The agreements with the airlines include a Saturday flight to Madrid’s Barajas International Airport operated by Iberia from July 4 to August 1.

Travel and tourism

Limited flights to Madrid, Paris and Amsterdam restart in Argentina

29-06-2020 08:00 Once a week, special flights operated by various airlines will depart from Ezeiza, with flights also scheduled for Miami, Rome and Tel Aviv. Travellers will have to maintain a 14-day quarantine at their destination and sign a declaration that inhibits them from making claims against the government.

Economy Minister Martín Guzmán, pictured at his office inside the Economy Ministry in downtown Buenos Aires.

DEBT RESTRUCTURING

What’s the hold-up? Four sticking points in Argentina’s debt talks

27-06-2020 08:59 Four issues are keeping the government and its creditors apart ahead of the July 24 deadline for an accord.

A woman running with her dog.

THE LAST SEVEN DAYS

What we learned this week: June 20 to June 27

27-06-2020 08:53 A round-up of the stories that caught our eye over the last seven days in Argentina.

Economist Jeffrey Sachs spoke to Perfil's Jorge Fontevecchia for an exclusive intervew.

PERIODISMO PURO / INTERVIEW

Jeffrey Sachs: ‘This is not a game for BlackRock to get an extra percentage point – that's absurd’

27-06-2020 08:29 US economist and public policy analyst Jeffrey Sachs on Argentina’s debt restructuring talks, the Macri administration’s missteps and the fall-out from the coronavirus pandemic.

by Jorge Fontevecchia

Cristina- Alberto vs Larreta - Macri.

CRISTINA & ALBERTO

Is she winning?

27-06-2020 08:23 The major shock to the president’s credibility, though, was the failed expropriation of agro-giant Vicentín. Not only are a lot more people against the measure, but also the sensation that it’s of Cristina’s making, not Alberto’s.

by Agustino Fontevecchia

Kicillof and Larreta are showing manners and are holding regular meetings to sort out their differences before announcing decisions together.

100 DAYS OF QUARANTINE

Hibernation time

27-06-2020 08:09 The pandemic is a tremendous challenge for the metropolitan area. Only history will explain the true extent of economic devastation in the region.

by Martín Gambarotta

The UN has warned that as many as 850,000 jobs could be lost in Argentina this year.

CORONAVIRUS PANDEMIC

UN: Argentina could lose 850,000 jobs in 2020 amid virus crisis

27-06-2020 07:59 Child poverty in Argentina could reach 58% by the end of the year, warns United Nations in new report.

by Lorena Rodríguez

President Alberto Fernández announces the extension of the quarantine period, flanked by Buenos Aires City Mayor Horacio Rodríguez Larreta and Buenos Aires Province Governor Axel Kicillof.

CORONAVIRUS PANDEMIC

Fernández tightens AMBA lockdown until July 17 amid virus surge

27-06-2020 07:36 Government cranks up coronavirus lockdown in capital, as Peronist leader calls on citizens in Buenos Aires metropolitan to respect restrictions and ‘return to isolation’ until July 17.

A food delivery worker waits for clients outside restaurants in Palermo, Buenos Aires, on June 17, 2020

Coronavirus pandemic

Argentina surpasses 50,000 Covid-19 cases, new restrictions on way

26-06-2020 02:58 President Alberto Fernández set to announce return to strict lockdown in Buenos Aires metropolitan area, running from July 1 to 17.

What next?

WHAT NEXT?

Brazil, Argentina issue warnings as locust swarm crosses region

26-06-2020 00:16 Both the Argentine and Brazilian governments issue warnings as locust swam crosses border region.

Economy Minister Martín Guzmán speaks during an interview in Buenos Aires on Wednesday, May 6, 2020.

BLOOMBERG

Argentina reached ‘an understanding’ with one creditor group, says Guzmán

25-06-2020 16:30 Argentina reached an understanding – but not an agreement – with one group of creditors, but major differences remain with another key faction, says Economy Minister Martín Guzmán said Thursday.

President Alberto Fernández joins a videoconference with regional leaders and officials from the IMF, IDB and World Bank.

Videoconference

Latin American leaders ask IMF, IDB, World Bank officials for support

25-06-2020 01:34 Presidents of nine Latin American nations ask International Monetary Fund, World Bank and the Inter-American Development Bank for support during virus crisis, including restructuring of debt.

A man walks in front of a closed pizza restaurant that's covered with papers of claims from former employees, in Buenos Aires, on June 17, 2020.

Global pandemic

IMF predicts Argentina's economy will slump 9.9% in 2020

25-06-2020 01:16 Warning of the biggest slump since the Great Depression, International Monetary Fund warns coronavirus crisis will sink global economy in 2020, predicts global collapse in GDP of 4.9%.

The Bad Toro bar in Palermo, Buenos Aires, posted up a banner reading explaining why they had shut up shop and thanking customers for their years of patronage.

BUSINESSES, SHOPS, STORES

Double whammy of virus and recession forces closures in the capital

25-06-2020 00:59 According to a survey by the Federation of Commerce and Industry of Buenos Aires, at least 18 percent of the 110,000 businesses in the capital have shut down since the coronavirus began.

American economist Kenneth Rogoff spoke to Perfil's Jorge Fontevecchia for an exclusive interview broadcast on NET TV.

PERIDISMO PURO / INTERVIEW

Kenneth Rogoff: 'This isn't normal. This is a full-scale natural catastrophe.'

24-06-2020 23:52 Leading US economist Kenneth Rogoff sat down for an exclusive interview with Perfil's Jorge Fontevecchia to discuss the coronavirus pandemic, its economic impact and relief for indebted nations.

Pedestrians walk through a downtown shopping district in Sao Paulo, Brazil on June 10, 2020.

Coronavirus economies

IMF forecasts deeper Latin America recession in 2020

24-06-2020 16:59 International Monetary Fund predicts 9.4% contraction in Latin America and the Caribbean, largely due to the economies of Mexico and Brazil, both of which are struggling to contain the Covid-19 pandemic.

View of the empty Puente de la Mujer rotating footbridge in Puerto Madero neighbourhood in Buenos Aires City, seen on March 20, 2020 during the outbreak of the new coronavirus, Covid-19.

MARKETS

Argentina risks losing emerging markets status, warns MSCI

23-06-2020 23:27 Concern about market accessibility in Argentina prompted MSCI to flag the country during this year's 2020 rating review. Turkey was also warned.

Passengers wearing protective masks sit in a Subte underground carriage in the capital.

BLOOMBERG – ANALYSIS

In perennial economic crisis, Argentina faces worst year yet

23-06-2020 23:15 Some analysts are predicting a record contraction for Argentina's economy this year, with double-digit estimates of decline beginning to emerge.

Economy Minister Martín Guzmán taking part in a video conference organised by the Council of the Americas (COA) and the Americas Society (AS), from his office in Buenos Aires, on June 23, 2020.

DEBT RESTRUCTURING

Guzmán says Argentina cannot commit to demand from creditors group

23-06-2020 21:31 Guzmán says Argentina cannot commit to legal terms proposed by one of the leading creditor groups, the Ad Hoc Bondholder Group, but remains open to discussion.

A man walks past a closed restaurant with a sign reading “Dear neighbours and clients, it was impossible for us to sustain the place with 80 days of quarantine. Thank you for these years' support” in Buenos Aires, on June 17, 2020, amid the new coronavirus pandemic.

ECONOMIC INDICATORS

INDEC: Economy contracted by 5.4% in first quarter of 2020

23-06-2020 20:37 Unemployment rose to 10.4% in the first three months of the year, before the coronavirus lockdown kicked in, national statistics bureau reveals.

President Alberto Fernández, Buenos Aires Province Governor, Axel Kicillof and Buenos Aires City Mayor Horacio Rodríguez Larreta, pictured in a file photo.

BA CITY & PROVINCE

Officials to tighten AMBA lockdown if curve continues to accelerate

23-06-2020 00:29 As officials report new daily high of confirmed cases, Fernández, Kicillof, Rodríguez Larreta meet at Olivos and agree to tighten restrictions in Buenos Aires metropolitan area if curve continues to accelerate.

The Trump administration increased pressure on Venezuelan President Nicolas Maduro, Thursday, June 18, targeting a lifeline he's used for selling crude oil run by a close associate of the socialist leader who was recently jailed in Cape Verde.

Crisis in Venezuela

Venezuela accuses US of blocking ability to pay UN dues

22-06-2020 19:26 Venezuela accuses United States of blocking its ability to pay dues to the United Nations, making it was the only country unable to vote in the UN General Assembly elections on June 17.

Argentine medical doctor Norma Raúl looks at a robot with which she practices medical assistance for Covid-19 patients, at the Clinical Simulation Training Center of the El Cruce hospital, in Florencio Varela, Buenos Aires Province.

Coronavirus pandemic

Argentina records 1,000th death from coronavirus

22-06-2020 09:08 More than 42,000 infections have now been recorded in Argentina. Officials to meet on Monday to discuss whether lockdown in Buenos Aires metropolitan area will continue.

A man holds a sign with the images of Hungarian-US billionaire George Soros (left) and Argentina's President Alberto Fernández, reading "Virus = expropriation of companies" during a demonstration called by small businessmen affected by the government's mandatory quarantine imposed for more than 13 weeks, to protest against the quarantine and the expropriation of the Vicentin agro-industrial company on the Obelisk in Buenos Aires.

expropriation of Vicentin

Vicentin tensions rise amid protests, Fernández backlash

22-06-2020 08:42 Thousands of Argentines in Santa Fe Province, where Vicentin is headquartered, and other cities, expressed anger at the expropriation plan on Saturday, as President Alberto Fernández insisted on nationalising the company.

From the left, Daniel Rocaro, Uriel López and Bauti Fernández, promisingyoung footballers, are pictured in front of their trophies at the 16 de Agosto club in Villa Caraza.

FOOTBALL IN ARGENTINA

Pandemic puts dreams of poor young footballers on hold

20-06-2020 11:43 Football has now been cancelled for more than 80 days now with no restart in sight, cutting off thousands of young players in Argentina’s poorest barrios from what many felt was their only shot at a better life.

Argentina’s most emblematic product, its famous beef, has straddled most of the difficulties – it continues to be the favourite of the markets.

BEEF INDUSTRY

Beef industry surmounts coronavirus-led disruption of trade

20-06-2020 11:01 Exports overall dropped in the first third of 2020, but overseas beef sales rose more than 10% in the same period, when compared to the previous year.

Trump decided to compete for the presidency of Latin America’s most important development bank.

INTERAMERICAN DEVELOPMENT BANK

Trump expolits Latin America split to push adviser for IDB post

20-06-2020 10:54 US president taps Mauricio Claver-Carone for Inter-American Development Bank presidency, severely damaging President Alberto Fernández hopes for his adviser Gustavo Beliz’s candidacy.

Cafiero denied that any other companies were in line for expropriation or that legal security was threatened in any way.

CONGRESS

Cafiero faces flurry of questions in Congress début

20-06-2020 10:44 Cabinet chief defends move to nationalise Vicentin, says pensions have improved in real terms.

udge Fabian Lorenzini in Santa Fe Province reinstated ousted Vicentin executives to their positions and said government officials who’d seized the company by decree should step aside to perform a supervisory role.

EXPROPRIATION OF VICENTIN

Setback for government as Vicentin executives reinstated by judge

20-06-2020 10:37 Judge in Santa Fe Province reinstates ousted executives and says government officials should only perform a supervisory role in bid to leave bankruptcy behind.

The Central Bank, main source of funding during the pandemic crisis.

Coronavirus pandemic

CIPPEC: Central Bank main source of Treasury financing during pandemic

20-06-2020 10:27 The Central Bank has become the main source of Treasury funding during the pandemic crisis, passing from 3% to 40% of the total in the past year, the CIPPEC think-tank has revealed.

LATAM operated out of Aeroparque Jorge Newbery and its withdrawal from domestic flights leaves Aerolíneas as the only airline operating out of the City airport.

OPINION & ANALYSIS

LATAM’s exit – and Aerolíneas’ monopoly

20-06-2020 10:09 Markets and carriers fear low-cost airlines will face impediments from flying, with the aim of leaving Aerolíneas Argentinas with a monopoly on all domestic routes.

by Mario Rodríguez Muñoz

LATAM decided to cease operations in Argentina.

AIRLINES & TOURISM

LATAM airline departs Argentina as virus crisis hits home

20-06-2020 10:03 Chilean-Brazilian airline LATAM – which filed for bankruptcy in the US last month – announces its subsidiary in Argentina will cease operations for an indefinite period. More than 1,700 jobs now at risk.