News of economy

Economic activity shrank 6.9% in September year-on-year

24-11-2020 19:12 New data from INDEC national statistics bureau shows economic activity has declined 11.9% since the turn of the year.

US President-elect Joe Biden presents his security and foreign policy team

24-11-2020 17:55 Declaring 'America is back,' US President-elect Joe Biden unveils his picks for secretary of state, national security advisor, homeland security secretary, head of national intelligence, UN ambassador and climate change envoy.

IMF and Argentina making 'good progress' on new financing plan

22-11-2020 15:13 IMF mission team ends visit to Buenos Aires, saying that talks over a new financing plan are progressing well, with the two sides beginning to “delineate the contours” of a new deal.

November’s sky is chill and drear

21-11-2020 10:51 With the government falling into line with the quarantine fatigue felt by much of the nation, a vacuum has opened up in the public agenda. There was already plenty of jostling last week to fill it – from both wings of the coalition government.

US$3-billion ‘wealth tax’ bill clears lower house, heads to Senate

21-11-2020 10:20 Chamber of Deputies votes in favour of one-off levy for those with largest fortunes. Bill, which Peronist lawmakers hope will raise US$3 billion, now goes to Senate.

Wealth taxes and extraordinary contributions – how other nations handle it

21-11-2020 10:14 Worldwide Germany and France are the two most practical examples of that class of taxes labelled “solidarity."

Night-time raiders are destroying US$100,000 soy bags

20-11-2020 13:17 Packed tight with freshly harvested soybeans, the silobags that dot the Pampas at this time of year are worth a hefty sum. They're also a target for vandals – and farmers have had enough.

Global crop supply fears send soybeans to highest in six years

19-11-2020 10:27 Soybeans traded at the highest level in more than six years as increasing demand from top importer China and dry weather in the major producing areas of South America spur growing concerns over global supplies.

Ban on lay-offs and dismissals extended until end of January

17-11-2020 16:33 Government publishes decree in Official Gazette extending ban on dismissals and lay-offs until January 29

Peronist senators amp up rhetoric with scathing letter to IMF chief

16-11-2020 18:05 With government in talks over new financing programme, senators from ruling Frente de Todos coalition fire off letter to IMF chief Kristialina Georgieva demanding organisation “refrain from conditioning economic policy.”

You better shape up (the Cabinet)

14-11-2020 10:33 President Alberto Fernández is facing questions about the executive performance of his Cabinet and not only from the opposition.

by Martín Gambarotta

Government to request Extended Fund Facility programme from IMF

14-11-2020 10:26 Guzmán tells reporters Argentina will seek an Extended Fund Facility programme, a scheme that normally implies a commitment to significant economic reforms.

CEOs frustrated with Argentina rattle off list of problems

13-11-2020 19:02 Global companies are growing ever more frustrated with Argentina. The specific gripes vary, but broadly speaking executives say it’s hard to make money given the multitude of challenges facing the nation.

Poorer nations face vaccine wait as West locks down supply

13-11-2020 14:17 While richer nations plan their vaccination programmes through the end of 2021, experts warn that poorer and developing countries face hurdles that could deny billions the first proven protection against the coronavirus.

Inflation reached 3.8% in October, highest monthly rate of year

12-11-2020 17:05 Prices in Argentina have risen by 26.9% since turn of the year, reveals INDEC national statistics bureau.

Argentina goes all-in to cut record gap with parallel peso

12-11-2020 16:42 Argentina is resorting to all necessary means to reduce the gap between its official and parallel exchange rates.

Pfizer says Covid-19 vaccine 90% effective in Phase 3 trial

09-11-2020 09:05 A vaccine jointly developed by Pfizer and BioNTech was 90% effective in preventing Covid-19 infections in ongoing Phase 3 trials, the companies announced Monday. 

IMF to launch talks with Argentina over new loan next week

06-11-2020 18:27 IMF confirms mission team will arrive in Argentina to start talks with the government over a new financing programme next week.

Economy Ministry to halt Central Bank advances until end of 2020

03-11-2020 12:53 Economy Ministry says it will not ask the Central Bank for temporary advances of cash in November and December and would target local capital markets for financing instead.

Argentina agrees to buy 25 million doses of Russia's Covid-19 vaccine

03-11-2020 02:16 President Fernández reveals in interview with Russian news agency that government will receive initial 10 million doses of Sputnik V vaccine by as early as December, should it clear clinical trials.

What we learned this week: October 24 to 31

31-10-2020 10:45 The pick of the headlines from the last seven days in Argentina.

Latin America watches on as United States heads to the polls

31-10-2020 10:36 With the region facing unprecedented economic and health concerns, as well as the issue of China’s increasing presence, Tuesday’s election could set the tone for the next phase of US-Latin America relations.

by Jennifer Heiman & Anina Hoffman

Pandemic drives Brazil jobless rate to record 14.4%

30-10-2020 14:15 Brazil's economy lost 4.3 million jobs between July and August, bringing the total number of unemployed to 13.8 million people, the government said.

Covid and Argentina drag Telefónica to 160-million-euro 3Q loss

30-10-2020 01:07 Company’s third-quarter write-down illustrates depth of Argentina’s economic crisis, reports Bloomberg.

Environmentalists, markets eye Argentina’s transgenic wheat askance

27-10-2020 14:33 Argentina became the first country to approve the growth and consumption of genetically modified drought-tolerant wheat earlier this month. Markets, healthcare professionals and environmental activists express concerns.

Latin America’s winners and losers in US vote: Election guide

27-10-2020 13:45 Firms from Mexico, Brazil and Argentina are some of the Latin American stocks whose outlook is tied in part to the outcome of next Tuesday's US election.

Chileans overwhelmingly vote to scrap Pinochet-era constitution

25-10-2020 22:42 Chile voted overwhelmingly on Sunday to scrap its Pinochet-era constitution and draft a new one. With more than half the votes counted, 77.9% backed a fresh charter, a key demand by protesters that took to the streets last year in huge numbers.

Argentina will open borders to neighbouring countries for summer

25-10-2020 16:54 The government will open Argentina’s borders to tourists from neighbouring countries this summer, confirms Tourism & Sports Minister Matías Lammens, without giving a date.