Fernández shrank fiscal deficit 2020 to ARG$65 billion

Argentine government reduced the fiscal deficit by about ARG$ 67 billion ($1.12 billion) through a reallocation of budget items that allows a decrease in capital expenditures. The Argentine Budget Association (ASAP) estimated that the current revenues decreased by ARG$1.2 billion, as Fabricaciones Militares (Army factories) were transformed into a State Society, and at the same time consumption expenses were reduced by ARG$1.77 billion.

Washington relegates Argentina and supports Brazil for the OECD

The United States will present today in Paris its support for Brazil to join the Organization for Economic Cooperation and Development (OECD), relegating a position that Argentina expected, Washington sources confirmed to the newspaper La Nación. In October, Secretary of State Mike Pompeo had sent a letter to the OECD Secretary General, Angel Gurria, in which he suggested Argentina and Romania as candidates.

YPF Luz clinches $150 million loans for wind farm in Santa Cruz

YPF Luz, a subsidiary of state oil company YPF, has received $100 million in credits from BNP Paribas Fortis and $50 million from the U.S. International Development Finance Corporation. Credits will be used for building the wind farm Cañadón León in the breezy southern steppes of Santa Cruz province, which is expected to generate 120 megawatts of power and create 400 jobs during its construction phase.