The eighth edition of Cyber Monday, where major commercial platforms have special offers or installment financing, began today and will run until Wednesday. More than 550 companies take part of the initiative promoted by the Argentine Chamber of Electronic Commerce (Cace). Installments in electronics and tourism are a key to the event this year as they set a value to the dollar for 12 or 18 months, said the organizers.
The former president of the Central Bank (BCRA), Mercedes Marcó del Pont, one of the six members of the Alberto Fernández transition group, suggested “de-dollarise the Argentine economy.” The decision of the BCRA to impose a stricter exchange control “introduces a certain rationality”, but it is “naive to think that our bi-monetarism is simply arranged with a measure of the BCRA,” says a report from its Development Research Foundation (FIDE) .
Eleven companies entered into administration or declared bankruptcy every business day between July and September 2019, according to the Argentine Political Economy Center (CEPA). This means almost double the number registered in 2016. In the last four years, almost 22 thousand companies with registered workers have closed.
Although Argentina’s President-elect hast not publicly made any announcement, La Nacion reported, citing unnamed officials that he would support the recent capital control measures taken by the outgoing government. The measures came as the peso slumped 25% to a record low following Fernandez’s victory over Macri at the August primaries — before winning the general elections a week ago.
The country’s president, Mauricio Macri, signed a decree in August reclassifying some materials destined for recycling as commodities instead of waste, allowing looser oversight of mixed and contaminated plastic scraps that are difficult to process, and are often dumped or incinerated. Social and environmental groups say the decree is illegal and bucks a global trend toward improving controls over waste imports.