Fernández to float Congress bill to generate oil and gas investment

Argentine President Alberto Fernández will send a bill to Congress to attract investment for the production of conventional and unconventional hydrocarbons, and particularly for Vaca Muerta. The announcement came during a meeting with executives from the main energy companies operating in Argentina, and the state-owned oil company YPF.

Central Bank cuts benchmark interest rate to 50% from 52%

Argentina's central bank (BCRA) has cut its reference interest rate floor (Leliq) to 50% from 52%. Since December 19 to date, Fernández administration has lowered the interest rate by 13 percentage points. The BCRA also enabled a new 90-day fixed-term deposit in pesos that will be adjusted by the inflation rate and to which each bank will add a surcharge of at least 1%.

Interest payment debt was the expenditure that grew the most in 2019

The expenditure destined to the payment of the interests of the Argentine external debt in 2019 went from 3.7% to 4.3% of the Gross Domestic Product (GDP). This represented 19.4% of the total state expenditures. The approved initial credit increased by 18.1%, resulting in the interest of the debt the item of greatest variation (29.2%)," says a report from the National Congress Budget Office (OPC).