News of economy

Pope urges more regulation of financial markets

04-05-2021 14:26 Pope Francis called Tuesday for tougher regulation of financial markets in a video message published through his Worldwide Prayer Network.

Economy buckles as president puts politics first

04-05-2021 13:59 When Alberto Fernández took office in the final days of 2019, he presented himself as pragmatic. Few would argue that he has succeeded.

Life after the great pandemic

01-05-2021 00:43 Hopes that the pandemic would abolish history by putting things in perspective and unite the world are still floating around, but they owe more to wishful thinking than to anything else.

by James Neilson

Using Guzmán to undermine Alberto

01-05-2021 00:40 It goes without saying that if a minister is unable to dismiss an underling, a third-line official within his hierarchical structure, it’s the minister who should be abandoning ship. But it's not the economy minister’s authority that’s really at stake – it’s Alberto’s.

by Agustino Fontevecchia

What we learned this week: April 25 to May 1

01-05-2021 00:01 Our pick of the stories that caught our eye over the last seven days in Argentina.

Protesting health workers lift Vaca Muerta roadblocks

30-04-2021 19:58 Protesting health workers who have deployed roadblocks for the last four weeks, blocking traffic to the giant Vaca Muerta shale basin in Neuquén Province, said on Wednesday that they moved their protests to other parts of Patagonia.

Soy-shipping turmoil deepens with transport minister's death

29-04-2021 23:40 Argentine farmers struggling to ship their crops through increasingly shallow rivers may soon face a new obstacle: one of the world’s key soy waterways needs to be dredged, and there’s no firm plan for who will do it.

Amazon caps blockbuster Big Tech earnings reports

29-04-2021 12:15 A week of blockbuster earnings reports from Big Tech culminated Thursday with Amazon crushing forecasts of how much money it would rake in from pandemic-revved online shopping and growing reliance on internet-hosted services.

Money printer goes quiet and Argentina's government gets squeezed

28-04-2021 21:14 The Central Bank’s fight against inflation is upending the local bond market and squeezing government finances as Argentina struggles to regain traction while the pandemic rages on.

Alejandro Werner, IMF director for Americas, to retire

28-04-2021 17:37 Alejandro Werner, director of the Western Hemisphere Department of the International Monetary Fund, to retire in August.

Progressive climate policy can reduce extreme poverty, says study

27-04-2021 13:07 Researchers at the Potsdam Institute for Climate Impact Research (PIK) have found that ambitious climate policies could reduce extreme poverty in developing countries if governments opted for robust taxes on emitters that were then fairly distributed to help the poor.

As Castro reign ends, Cuba is mired in a debt debacle once again

27-04-2021 12:39 With hardly enough cash to pay for food imports now as Raúl Castro gives up his last vestiges of power – bringing an end to six decades of Castro family rule – Cuba can’t make good on the debt repayment deals that had been hailed as a sign of its return to the international stage just a few years earlier.

Uruguay presents plan to make Mercosur trade talks more flexible

26-04-2021 15:19 According to the draft document released by the Foreign Ministry in Montevideo, the proposal would allow member states, under some conditions, to initiate negotiations "either as a group or individually." 

Europe’s rebel Super League collapses after fan pressure

24-04-2021 09:37 Football's most powerful clubs face mounting calls for reprisals over Super League fiasco underlines greed and lack of respect for fans.

Argentina’s economy snaps growth streak, contracting in February

22-04-2021 23:52 Economic activity fell one percent in February from January, snapping a nine-month growth streak following a historic plunge triggered by the coronavirus pandemic.

Government extends ban on lay-offs until May 31

22-04-2021 23:35 Alberto Fernández administration extends its ban on job dismissals until May 31, except in the construction industry.

Consumption fell 26% in March 2021 from previous year, says study

21-04-2021 12:00 New survey shows consumption of energy drinks, chocolates and sweets grew significantly over the past year, while sales of cloth, bleach and air fresheners fell. 

Argentina has 'valuable support' from European nations for IMF debt talks

19-04-2021 13:44 Economy Minister says that Argentina is making "progress" in its debt restructuring talks with the International Monetary Fund and that the country is receiving “valuable support” from European leaders. 

Guzmán heads for Moscow after searching for ‘consensus’ on European tour

17-04-2021 09:16 Economy Minister Martín Guzmán heads to Moscow for talks on vaccine production, IMF debt restructuring and deepening strategic ties.

IMF official says timing of new debt deal depends on Argentina

17-04-2021 09:11 IMF Western Hemisphere Director Alejandro Werner says a lot of “advanced work” on a new financing programme for Argentina has been completed. But the timing of a new deal depends on the Alberto Fernández administration, he adds.

Inflation in Argentina speeds up, prompting government crackdown

15-04-2021 09:44 Argentina’s inflation accelerated last month at the fastest pace since President Alberto Fernández took office in late 2019, experts believe, prompting the government to tighten its unorthodox controls over companies.

Argentina’s peso mess is delivering windfall profits to brokers

14-04-2021 15:12 In Argentina, financial markets are all but dead. From stocks to bonds to traditional foreign-exchange venues, trading volumes are razor thin. Except, that is, in one unusual corner.

Record sovereign defaults in pandemic-hit 2020: S&P

13-04-2021 14:18 Ratings agency S&P there were a record seven defaults on sovereign debt repayments in 2020, the first year of the coronavirus pandemic.

Argentina seeks winter LNG boost as shale gas dreams falter

12-04-2021 11:19 Argentina is poised to more than double its purchases of liquefied natural gas (LNG) on the spot market this winter, in a bid to avoid a deficit.

What we learned this week: April 3rd- April 10th

10-04-2021 09:22 The stories that caught our eye over the last seven days in Argentina.

Congress approves ‘ganancias’ reform, raising income tax floor

10-04-2021 09:06 Income tax bill exempts almost 1.3 million taxpayers from qualification; Companies also set to benefit from similar reform.

Covid-19 second wave arrives with exhausted economy, citizenry

10-04-2021 07:26 Government introduces new restrictions after surge in infections, hoping to tread thin line between economic pain and healthcare gain.

Tax-the-rich initiatives gain support across Latin America

08-04-2021 14:55 Chile, Mexico, Colombia see wealth tax proposals advancing, Argentina and Bolivia have already passed measures; Debt in region soared as pandemic caused worst crash in two centuries.