“We expect Argentina to default on its debt again sometime after the new government takes office. Until then, the country will continue to face difficulties due to capital controls and general uncertainty about policies, which would be reflected in an economic contraction,” says the rating agency S&P in its latest report on the prospects of Latin American banks.
Shares of BBVA Argentina S.A. went up 15.5%. The latest report on a conversation over the phone between President-elect Alberto Fernández and IMF Kristalina Georgieva on the repayment of the $ 56 billion stand by credit granted to Argentina may have been the reason.
Argentina has sent its first shipment of chilled pork to China, including 26 tonnes of pork cuts, according to the Agriculture Ministry in Buenos Aires. China’s pork imports rise due to a devastating outbreak of African swine fever at home that has killed millions of hog herd and discouraged many farmers from replenishing their farms.
Argentina is set to dominate Asia’s grain market for a second consecutive year in 2020, with trading companies already buying significant volumes anticipating first-quarter demand in the region as drought curbs output in traditional export powerhouse Australia. The latest estimate for Argentina’s 2019/20 wheat harvest is 18.5 million tonnes, with a surplus of around 12 million tonnes in 2019/20, trade sources said.