Argentina’s car production reached 27,099 units in November, that is, 26.4% below the same month of 2018, while exports contracted 31.2% in the same year-on-year comparison. The information provided by the Association of Automotive Manufacturers (Adefa) indicates that November marked the 15th month of a consecutive fall in national vehicle production.
Argentina central bank chief Guido Sandleris resigned, an expected step as Latin America’s third-largest economy transitions to Peronism next week under newly elected President Alberto Fernandez. Sandleris, who holds a doctorate in economics from Columbia University, had been in his role since September 2018. The peso has sunk since last year and annual inflation is over 50%.
The South American four-nation trade bloc Mercosur began a tense meeting on Wednesday reeling from US steel and aluminium tariffs and a spat between its two biggest members. Recent elections have laid bare ideological tensions between Brazil and Argentina, threatening to hamper ratification of June’s historic Free Trade Agreement with the European Union.
Russia’s agriculture safety watchdog will impose restrictions on beef supplies to Russia from Dec. 18. , it said on Wednesday. The value of Paraguayan beef exports to Russia was $264.6 million from January through November, according to Paraguay’s health service. Official Argentine data show the country sent $46.9 million worth of beef to Russia from January through October.