According to last May report from Argentine Commercial Exchange (ICA), exports in the first five months of the year reached $1.7 billion and imports, 2.7 billion. Among what the country exported are common metals and their manufactures ($ 260 million); stones and precious metals and their manufactures, coins ($138 million).
President Trump said on Monday on Twitter that he would reinstate tariffs on steel and aluminum from Brazil and Argentina, accusing the two countries of artificially weakening their currencies and hurting American farmers.
Miguel Ángel Pesce could be the new president of the Central Bank of Argentina (BCRA), according to Ámbito, citing a high source of the team of President-elect Alberto Fernández. Pesce is considered a heterodox economist with extensive experience in public management, including the vice presidency of the BCRA for more than a decade.
Oil companies operating in Argentina apply a further increase of up to 6.5% in fuel prices as of today, thus totaling 17.8% in one month, after authorization granted by the Government. Meanwhile, companies offering prepaid health plans also apply a 12% increase as of today. This is the sixth consecutive increase of the year that accumulates 61%, 6 points above the estimated inflation of 55%.
Argentina’ central bank (BCRA) will maintain the floor underneath its benchmark Leliq interest rate at 63% to help protect the country’s wobbly peso currency. In a monthly report, the bank said that it would hold the rate steady for December due to the “importance of sustaining a real positive return for savers”.
Argentine embassy organised a commercial event in Lahore to promote bilateral relationships with Pakistan in the fields of agriculture, pharma industry and tourism. In 2018, Argentina exported to Pakistan $90 million mainly in agro-industrial products, and imported close to $50 million in textiles, cotton, sports accessories and medical equipment.