News of downturn

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.

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.

Drop in demand

OPEC sees demand for its crude dropping to lowest in 30 Years

17-04-2020 10:13 OPEC expects demand for its crude will fall to the lowest in three decades as the coronavirus outbreak freezes the global economy, underscoring the urgency of its promised production cuts.

Coronavirus consequences

IMF chief predicts worst economic downturn since Great Depression

09-04-2020 22:32 IMF Managing Director Kristalina Georgieva says it's clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn.

Bloomberg

Peru tackles virus with region’s biggest stimulus, eyes IMF help

30-03-2020 19:58 Peru is moving to fend off economic catastrophe with a record fiscal stimulus and plans for a contingency line of up to US$18 billion from the International Monetary Fund to contain the fallout from the coronavirus pandemic.

Bloomberg

Aluminium among first virus-related output reductions in Argentina

30-03-2020 18:49 Aluar Aluminio Argentino SAIC reduces production at one of its aluminium plants, another sign that global light metal production is slowing down.

Bloomberg

SoftBank’s Son bets on himself with US$7.4-billion pledge

24-03-2020 18:38 Masayoshi Son’s stake in the Japanese conglomerate has risen to 26.9 percent from 25.5 percent. With SoftBank’s shares gyrating wildly, he also pledged more stock against his holdings.

Markets slump

Merval suffers another rout fuelled by Covid-19 pandemic

12-03-2020 13:22 As coronavirus pandemic prompts economic turmoil and a downturn in the markets, Dow index slumps 8.7% and Argentina's Merval index falls 9.52%.

ECONOMIC CRISIS

Dying becomes a luxury as economic downturn hits home

06-01-2020 23:20 The cost of buying, renting and maintaining graves and tombs is so high that many in Argentina are opting to cremate their loved ones instead.