Industry News

  • 06.26.2018
    Navigating Emerging Markets: Argentina

    Mauro Roca, EM sovereign research managing director at TCW Group, and Bruno Binetti, research fellow at Inter-American Dialogue, discuss the Argentine peso, economy and government as the nation receives a $50 billion credit line from the International Monetary Fund. They speak on "Bloomberg Daybreak: Americas." (Source: Bloomberg)

  • 06.25.2018
    Cargill, Cofco, Bunge, ADM and AGD exported 58% of Argentine grains

    The top 5 agro-export companies in the country showed their credentials again in the first 4 months of the year. Both Cargill, Cofco/Nidera, Bunge, ADM and AGD ranked first in the export of grains, oils and agricultural by-products. Based on official data, they noted that exports of grains and derivatives reached 28.10 million tons, a volume that represented an interannual increase of 5.5%.

  • 06.12.2018
    Argentina: Wheat record campaign for us$ 3.6 Billion, grew by 132% vs. 2015

    Wheat is the big bet of the producers after the drought. According to the Buenos Aires Grain Exchange, this year the Wheat Gross Product (PBT) will be located in us$ 3591 million against us$ 1545 million in 2015. After the removal of the wheat retentions as soon as the current Government took office, the PBT will exhibit this year a growth of 132% versus what it represented in 2015, the last cycle with export rights and obstacles to the trade of this cereal in the Kirchner government. In addition, due to the greater movement and collection through other taxes, the State will be raising us$ 725 million, 29% more than in 2015.

  • 06.11.2018
    Argentina: Pampa Energia and TGS invest us$712 million in Vaca Muerta

    The oil company Pampa Energía announced its expansion plan in which it will invest 412 million dollars in gas exploitation in the El Mangrullo and Las Tacanas Norte fields, where it plans to develop 27 wells, 11 of them in Vaca Muerta.

  • 06.08.2018
    Argentina Peso Drops to Record After $50 Billion IMF Agreement

    Argentina’s central bank stepped back from defending the peso Friday following the country’s record deal Thursday with the International Monetary Fund.

    The peso dropped 1.3 percent to 25.31 per dollar Friday from 24.9850 per dollar Thursday. The currency paired earlier losses Friday, after being down as much as 2.2 percent.

  • 06.07.2018
    IMF, Argentina Agree on $50 Billion Bailout Deal

    he International Monetary Fund and Argentina reached an agreement for a $50 billion credit line to stem a drop in the value of the Argentine peso and shore up the government of President Mauricio Macri, as he accelerates plans to reduce fiscal deficits.

  • 06.07.2018
    IMF Reaches Staff-Level Agreement with Argentina on a Three-Year, US $50 Billion Stand- By Arrangement

    Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement on the staff level agreement:

  • 06.06.2018
    Political backing of the G7 for the Argentina-IMF agreement

    The International Monetary Fund (IMF) began the process of notifying its 24 governors of the agreement by which they will grant a loan to shield Argentina for at least a year and a half. The G7, composed of the United States, Japan, Germany, the United Kingdom, France, Italy and Canada, has 43.46% of the votes in the IMF and for the agreement to be signed, Argentina needs to reach 50% by adding, for example, China and Russia. The official goal is to reach June 20 with the agreement underway.

     

  • 06.04.2018
    Argentina will cut us $1 Billion in state deficit

    The money available to reduce the deficit or to prioritize other expenses with greater impact, such as social or infrastructure spending, is a relevant figure. The Government announced 9 measures to reduce spending on public administration, with which it expects to save 26.4 billion Argentine pesos in one year.

  • 06.04.2018
    UPDATE 1-IMF says talks with Argentina for financing plan are 'well advanced'

    BUENOS AIRES, June 4 (Reuters) - Talks between Argentina and the International Monetary Fund (IMF) for a financing plan are “well advanced,” the Fund’s Western Hemisphere director Alejandro Werner said in a statement on Monday.

  • 06.04.2018
    MSCI & IMF on the Horizon

    We expect MSCI to announce its decision whether to upgrade
    MSCI Argentina to EM status on June 20, and the IMF to
    announce a potential USD30bn+ SBA in mid/late June. Both
    events should be important catalysts for local asset prices.

  • 06.03.2018
    Qatar Petroleum buys stake in Exxon's Argentina shale assets

    DOHA (Reuters) - Qatar Petroleum signed an agreement on Sunday with Exxon Mobil to acquire a 30 percent stake in two of Exxon’s affiliates in Argentina, giving QP access to oil and gas shale assets in the Latin American country.

  • 05.31.2018
    Argentine President Sees Deal With IMF in Next Few Days

    President Mauricio Macri said Argentina will reach a deal with the International Monetary Fund in the next few days.

  • 05.29.2018
    Argentine CEOs confident in the economy

    This was recorded by the latest edition of the Global CEO Outlook 2018 survey of the KPMG consultancy conducted at 1,300 CEOs of the world's leading companies in February and presented a few days ago. Among that total, 278 correspond to Latin America, and 50 are from Argentina in 11 sectors: administration, automotive, banks, consumer and retail, energy, infrastructure, insurance, health, production, technology and telecommunications.

  • 05.29.2018
    Coca-Cola Co to Increase Investments in Argentina

     BUENOS AIRES (Reuters) - Coca-Cola Co said on Tuesday it would increase its investments in Argentina over the next three years, giving embattled President Mauricio Macri's government a boost at a difficult time.

  • 05.28.2018
    Argentina's Recent Events: Wake-up Call that May Trigger Positive Changes

    Until the events of the first weeks of May, Mauricio Macri’s administration was happily planning its re-election campaign. What should have been an anticipated market episode took the government by surprise. The results so far have been less than encouraging: a loss of international reserves of US $9 billion, the 22 percent depreciation of the peso against the US dollar, and the need to require assistance to the IMF.

  • 05.25.2018
    How Mauricio Macri Ended Argentina's Currency Crisis

    Having endured his most difficult two weeks in office, President Mauricio Macri ended the week relieved after his economic team managed to take control of an ominous currency crisis that reminded many of the 2001-2 economic meltdown.

    It didn’t come easy for the Cambiemos (Let’s Change) coalition, with the Central Bank forced to put a big number of precious foreign reserves into play, while fractures emerged among government allies and general opinion polls showed continued dissatisfaction.

  • 05.18.2018
    Argentina is in the middle of an epic struggle to overturn historic nightmares

    For some weary observers the peso’s problems were a sign that Argentina is always just one step from crisis. For others it’s all part of the recovery. People underestimate the complexity of the balancing act that Argentina is carrying out. There will be swings in sentiment and twists in the road because it’s a tricky situation.

  • 05.16.2018
    Argentina: The primary fiscal deficit fell 44.6% in April

    The Argentine Government is not finding it easy to straighten the economy, but there are positive signs like this one. For the tenth consecutive month, resources expanded above expenses by more than 5 points. The deficit of the National Public Sector decreased 44.6% in April and in the first quarter it decreased 31.1% in relation to the same period of 2017, informed the Ministry of Finance.

  • 05.16.2018
    Foreign Minister Faurie launches multi-sector trade and investment mission to the UK

    Argentine Foreign Minister Jorge Faurie led celebrations at the Palacio San Martín marking the launch of the trade mission and investment seminar set to take place in London between 22 and 25 May, organised by the Embassy of Argentina in the UK in conjunction with the Cámara de Comercio Argentino-Británica (CCAB).

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