The trade deficit with the United States fell 22.5% in 2019 (from $ 5.314 billion in 2018 to $ 3.589 billion), because Argentina imported almost $ 1.9 billion less, according to official data from Washington. The fall of the bilateral deficit with China reached 70% ($ 2.2 billion against $ 7.6 billion in 2018), according to the Argentine Chamber of Exporters. In December, 32.7% of Argentine exports went to China, Brazil and the US, while 52.3% of imports came from those three countries, according to Indec.
A technical mission of the International Monetary Fund (IMF) arrives on Wednesday whose report will be a vital tool for reprofiling payments of $44 billion stand-by credit. That same day, the minister of economy, Martín Guzmán, will address Congress on his plan for “sustainable debt” renegotiation which also involves $67 billion owed to private bondholders. On Thursday, about AR100 billion of the AF20 Dual Bond mature.
Argentina Ministry of Economy will bid on Monday new Treasury bonds to refinance $ 1.64 billion of the AF20 Dual Bond that expires on February 13. Both natural and legal persons may participate. The call comes after only 10% of holders of those bonds accepted a voluntary exchange for $ 164 million.
China’s Ganfeng Lithium Co has agreed with Vancouver-based Lithium Americas to take control of the Cauchari-Olaroz lithium project in Argentina’s far north. Ganfeng will pay $16 million to increase its stake to 51%, whilst Lithium Americas will get $40 million cash and retain 49% stake, in a deal to be closed before August.