News of slump

Oil giant Petrobras sheds US$19 billion in value over two days

22-02-2021 20:45 A sell-off in Brazil’s state-controlled oil firm Petrobras picked up on Monday after a group of analysts downgraded the stock within 24 hours, following Jair Bolsonaro's decision to replace the company’s chief executive officer.

LATIN AMERICA

UN: Foreign direct investment in Latin America to fall by up to 55%

02-12-2020 13:39 Foreign direct investment in Latin America will fall by up to 55% in 2020, the UN's regional economic commission said Wednesday.

IMF TALKS

Fernández, Georgieva ‘confident’ Argentina will seal new IMF deal

10-10-2020 10:01 Officials on both sides say all the right things as first visit of IMF mission team passes off without incident. Kristalina Georgieva says Fund has "no intention of putting pressure on Argentina at this time."

THE WEEK

What we learned this week: October 3 to 10

10-10-2020 09:56 Our pick of the stories from the last seven days in Argentina.

ECONOMIC INDICATORS

Industry down 7.1% in August year-on-year, says INDEC

08-10-2020 19:22 Around 54 percent of local manufacturers operated normally in August, with 45.9% working only partially or inactive, says INDEC.

BLOOMBERG

Argentina’s new bonds plunge deep into distressed territory

21-09-2020 17:11 Argentina’s new dollar bonds have plunged back into distressed territory just two weeks after the nation restructured almost US$65 billion in debt.

AS I SEE IT

Making the most of failure

19-09-2020 10:01 Argentina has long been in the hands of individuals who reach power by attributing the country’s woes to the stupidity of their political rivals, but who once in office do not have the slightest idea of how to improve matters.

by James Neilson

Global pandemic

Virus plunges Brazil into recession with record 9.7% drop

01-09-2020 10:59 Brazil's economy, the biggest in the reion, contracted by a record 9.7% in the second quarter of 2020, plunging into recession.

ECONOMIC INDICATORS

Hit by Covid-19 lockdown, exports fell 11% in the first half of year

28-07-2020 22:23 In the first six months of 2020, exports reached US$27.388 billion, reveals INDEC national statistics bureau.

ECONOMIC INDICATORS

Argentina's shrank 2.1% in 2019, reports INDEC

21-02-2020 18:00 Argentina's recession-hit economy shrank by 2.1 percent in 2019, the INDEC national statistics bureau announced Friday.

ECONOMIC INDICATORS

Auto industry decline underlined by 32.5% drop in production in 2019

07-01-2020 09:12 Automobile production fell 32.5% in 2019 in Argentina compared to the previous year, with just 314,787 units manufactured – the sector's lowest level since 2004.

BLOOMBERG

Argentina’s banks cut trading desk jobs after market plunge

05-11-2019 10:17 Banks have been shrinking size of their trading desks in Argentina after the rout sparked by the August 11 PASO primary election.

BLOOMBERG

Investor warns narrow path for Argentina to avoid 'vulture' funds

04-11-2019 08:58 Alberto Fernández risks a repeat of the 2001 debt crisis that led to a messy 15-year legal battle with creditors unless he can quickly restructure US$50 billion of bonds, warns Delta Asset Management's Christian Cavanagh.

BLOOMBERG

Stock and bond trading decimated in once red-hot Argentina

07-10-2019 16:59 Assets under management at local banks and brokerages have plummeted 25% since the primaries. Stock trading has fallen by half, and local bond volume is down by two-thirds.

BLOOMBERG

Hedge funds from Autonomy to Odey tumble on Argentine swoon

26-08-2019 13:54 Autonomy Capital and VR Capital Group saw their gains for the year wiped away after starting August with wagers on Argentina. Famed short seller Crispin Odey and Glen Point Capital also saw losses.

PASO

A question of margins: PASOs to offer reality check

10-08-2019 09:07 Domestic and international observers fear economic backlash, should Alberto Fernández finish more than five points ahead of President Macri and his allies in this weekend’s primaries.