News of recession

Official: Argentina's economy shrank 9.9% in 2020, confirms INDEC

23-03-2021 21:26 Economy shrank by 9.9% in 2020 year-on-year due to the coronavirus pandemic – its worst fall in almost 20 years.

INDEC: Inflation in February hit 3.6%

11-03-2021 17:48 Prices in Argentina have risen by 40.7% over the last 12 months, and by 7.8% in the first two months of 2021, according to government data.

INDEC: Inflation 2.8% in September, 22.3% this year so far

14-10-2020 18:22 Consumer prices rose 2.8% in September, with the biggest increases in clothing and footwear and alcoholic beverages and tobacco.

INDEC says inflation in August reached 2.7%

16-09-2020 18:24 Consumer prices in Argentina increased 2.7% in August and have risen 18.9% since the turn of the year.

Venezuela's fuel shortages persist despite Iran deliveries

14-07-2020 14:59 Venezuela citizens are still forced to line up for gasoline, sometimes for days, despite Iran's major fuel shipment last month.

Giorgio was right

04-07-2020 08:51 Quarantine has been renewed, presented as a lifestyle by the government.

by Pola Oloixarac

Airline JetSmart negotiating help with Argentine, Chilean governments

07-05-2020 13:05 Low-cost airline JetSmart Airlines SpA is in talks with the governments of Chile and Argentina about helping the sector in the midst of the coronavirus pandemic, said its CEO, Estuardo Ortiz, in an interview with radio Pauta Bloomberg.

`If this thing boomerangs...' – Countries fear second wave of infections

07-05-2020 12:59 As Europe and the US loosen their lockdowns against the coronavirus, health experts are expressing growing dread over what they say is an all-but-certain second wave of deaths and infections that could force governments to clamp back down.

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.

Argentina makes opening move in debt talks

17-04-2020 01:12 The highlights: a three-year moratorium, a 62 percent reduction in interest payments and a five-percent cut in the value of the principal.

Norwegian Air shuttle tries a desperate final gamble

10-04-2020 18:12 Few airlines can be entirely confident of their survival right now. The ones in most danger are those that overextended themselves financially before the pandemic, and nobody pushed boundaries more than Norwegian Air Shuttle ASA, the budget transatlantic airline.

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.

Firms will go bankrupt within 30 days of no work, warns business lobby

28-03-2020 08:56 Argentina’s Chamber of Commerce praises government’s handling of coronavirus crisis but warns that paralysis of economic activity will hit companies hard.

Argentina's recession to deepen as virus foils Fernández's plans

26-03-2020 16:50 Economists forecast deepening of economic contraction for the third year running, highlighting just how difficult it will be for President Alberto Fernández to change things.

Data shows businesses in Argentina cutting jobs amid crisis

09-03-2020 08:00 Argentina lost 28,500 private sector jobs in December, the worst monthly decline in four years, according to government data released on Thursday.

Argentina’s government needs to speak with one voice on debt

21-02-2020 08:38 Before Argentina can come up with a solid economic plan, it needs a credible political pact. That takes a government which speaks with one voice, mutes the palace incendiaries and treats debt and economic recovery not as a passion play but as part of a national business plan. 

by Mac Margolis

Blow for Fernández as crop windfall slips away

09-12-2019 13:42 President-elect needs all the help he can get to pull the country out of recession and make good on bond payments. But he faces a speed bump from the crop industry.

The risks of fragmented polarisation

16-11-2019 09:33 Depending on how the economy features in the coming months and how the coalitions manage to sustain complex internal balances, polarisation could soon crack into fragmentation, with unpredictable political consequences.

by Marcelo J. Garcia

World Bank: Slowdown in Latin America 'more self-inflicted than imported'

10-10-2019 15:19 World Bank predicts Argentina's economic contraction will deepen this year to 3.1%.

Brazilian Central Bank cuts interest rate to record low

19-09-2019 16:30 Monetary authority slashes interest rates to a record low 5.5% for the second time in less than two months, as Latin America's biggest economy expresses concerns over "more intense slowdown in the global economy."