News of economy

Brazil ends new 'lost decade' with GDP drop of 4.1% in 2020

03-03-2021 10:26 The economy of Argentina's giant neighbour registered a 4.1% contraction in 2020, according to official data.

MercadoLibre to invest record US$1.8 billion in Brazil

01-03-2021 22:01 Latin American e-commerce powerhouse MercadoLibre Inc. is more than doubling its Brazilian investment this year, planning to deploy in 2021 the same amount it spent in the past four years combined.

Brazil again pushes for loosening of Mercosur trade deal rules

27-02-2021 08:21 Bolsonaro set to visit Buenos Aires for trade bloc’s next summit; Brazilian foreign minister accuses ‘interest groups’ using the environment as ‘pretext’ to block ratification of EU-Mercosur deal.

Government considers using new IMF reserves for loan payment

26-02-2021 16:58 Argentina is considering using new reserves to be issued by the International Monetary Fund to make a payment due to the lender in September, according to a person with direct knowledge.

INDEC estimates economy contracted 10% in 2020

25-02-2021 17:35 Bureau’s Monthly Estimator of Economic Activity (EMAE), published Wednesday, revealed the economy fell by 2.2% in December.

Ticket to ride: Vaccine passports divide world

25-02-2021 15:27 Vaccine passports: the new normal or drivers of inequality? While some countries and private sector entities believe they could be a ticket to return to pre-pandemic activities, others claim they could be divisive and discriminatory.

Vaccine delays threaten economies hardest hit by pandemic

23-02-2021 12:24 Latin America and the Caribbean, the region where the coronavirus caused the worst economic destruction and more than a quarter of the world’s deaths, is now falling victim to a slow inoculation campaign.

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.

Bondholders: ‘Argentina desperately needs agreement with the IMF’

20-02-2021 08:18 Private bondholders group, who previously agreed to restructuring, accuse government of dragging its feet in talks with IMF to “continue its unsustainable policies even longer."

The anchor: Guzmán’s second mistake?

20-02-2021 07:12 The Fernández administration has doubled down on an economic strategy that appears aimed at winning this year’s midterm elections. Whether or not Economy Minister Martín Guzmán agrees with the plan is debatable.

by Agustino Fontevecchia

Wealth tax: inequality solution for Latin America?

19-02-2021 12:52 The income chasm between the rich and poor in Latin America has led to efforts to tax the wealthy – though the reception has been uneven across various countries.

Banco Galicia CEO: Inflation will keep battering banking returns

19-02-2021 12:42 Argentine banks took a beating last year, and the nation’s biggest lender says the industry is at risk of a repeat performance.

Former president Carlos Menem passes away aged 90

14-02-2021 13:57 Peronist leader, who led the nation for a decade between 1989 and 1999, passes away at a hospital in Buenos Aires.

Menem, ex-president who led Argentina for 10 years, dies at 90

14-02-2021 13:17 Former president, whose economic policies quashed hyperinflation during the 1990s but sowed the seeds for what became the largest debt default in history, has died. He was 90.

Tensions with producers lowered after talks with agricultural leaders

13-02-2021 10:19 President agrees not to set further quotas or hike taxes, provided agreement is reached to keep prices down.

Local municipalities embrace agroecology

13-02-2021 10:15 A network of municipalities are reimagining an agricultural production model based on industrial inputs, encouraging a new relationship between farming, food and nature.

by Jorgelina Hiba

Guzmán’s first mistake

13-02-2021 08:40 The economy minister’s appeal stems from a technocratic approach to the field of public economics, coupled with a soft but convincing, almost stubborn, conviction in his plan.

by Agustino Fontevecchia

YPF avoids March default with 60% support for key bond swap

12-02-2021 01:11 YPF SA swaps almost 60% of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month.

IMF’s woes in Latin America set to grow after Ecuador vote

09-02-2021 17:01 IMF risks having to renegotiate its second multi-billion dollar loan in Latin America in as many years following Ecuador’s presidential election.

JP Morgan's Aguzin named Hong Kong stock exchange's CEO

09-02-2021 16:54 Argentine-born banker Nicolás Aguzin appointed Hong Kong Stock Exchange's new chief executive, at a time when Beijing is clashing with Western powers over its campaign to stamp out dissent in the financial hub.

Fernández threatens to raise taxes on farm exports

08-02-2021 11:24 If the farm industry continues to sell food at home for the same prices at which it exports, the government will take matters into its own hands, warns Peronist leader.

Not so much how to win as when?

06-02-2021 10:32 The current combination of capital controls, price freezes, overpriced bonds, etc. might suffice for the next eight months without bursting, but not for a further two years.

France says won't ratify Mercosur trade deal in 'current form'

04-02-2021 17:01 France says it will not ratify trade deal between the European Union and the Mercosur bloc "in its current form."

Guzmán plans Washington trip to ramp up IMF talks

04-02-2021 15:40 Economy minister likely to travel to United States before end of February; IMF spokesperson says Fund is working “hard” to reach an agreement with Argentina.

Oxfam hails Argentina’s ‘wealth tax’ as law takes effect

30-01-2021 08:21 Charity calls on other nation states to raise taxes on their richest citizens, citing government’s new law as an example.

IMF cuts Argentina’s 2021 growth estimate to 4.5%

30-01-2021 08:16 Fund predicts strong economic rebound across the globe, but trims forecast for local economy by 0.4%.

Alberto’s 21st-century agenda?

30-01-2021 07:18 In order to imagine an avant garde agenda worthy of the 21st century, Argentina needs to fix its 20th-century problems.

by Agustino Fontevecchia

Trade volume fell 14.9% in 2020, but with US$12.5B surplus

28-01-2021 16:43 Trade volume last year totalled US$97.24 billion, 14.9% down from the previous year, but with surplus of US$12.528 billion.