Day: January 28, 2020

Mergers of more than $66.3mm will need government approval

All merger or acquisition of companies that involve a market concentration and whose turnover exceeds ARG$4 billion ($66.3 million), must have prior authorisation from the Secretary of Domestic Trade, according to a resolution published in the Official Gazette. This is due to an update of 53.8% of the so-called “Mobile Unit” which in 2019 was ARG $ 26.40.

Central bank announces new policy guidelines

Argentina’s central bank (BCRA) released policy guidelines aimed at increasing the monetary supply, avoiding major exchange rate fluctuations, and reducing inflation. The monetary policy will support a managed exchange rate float to avoid sharp fluctuations in the value of the currency and will promote a “prudent expansion” of the monetary supply, the bank said. If needed, the bank will assist the Treasury regarding external debt payments.

Argentina expects $25 billion in grain exports in 2020

Argentine grain and derivative exports will allow the entry of foreign currency for about $ 25 billion during 2020, says a report from the Rosario Trade Exchange. The improvements in climatic conditions project that the 2019-20 harvest will be the second highest in the country’s history. Exports for wheat are expected for $ 2.46 billion, corn $ 5.44 billion, and soybean with its derivatives $ 16.8 billion.