The real salary of the formal worker in Argentina fell 6.1% in 2019, according to the Average Stable Workers Compensation Rate (Ripte), published by the Ministry of Social Security. In December, it advanced 2% in monthly terms and was well below the national CPI that measured Indec in the same period at 3.7%. However, the fall is expected to be greater among informal employees, data that the National Institute of Statistics and Census (Indec) will publish on February 28.
Cervecería Quilmes, the main Argentine brewery operated by Anheuser-Busch InBev, announced the acquisition of Dante Robino winery for an undisclosed figure. The winery has 11.5 million liters of medium and high quality wine and sparkling wine production capacity. The deal includes the vineyards located in Perdriel, Luján de Cuyo, province of Mendoza. To its seven beer brands, Quilmes has been adding water, soda and energy drinks to its business unit in Argentina.
Property prices of two and three rooms in the Autonomous City of Buenos Aires (CABA) showed an average retraction of 2.5% in the last quarter, and in February a decrease of 8.8% in comparison with the same month of 2019, according to a survey of Reporte Inmobiliario (Real Estate Report). In February 2020 the average price was $2,190 per square meter.
“What we want from and with Argentina is Mercosur, a good relation, but having democracy and freedom above all”, Brazilian president Jair Bolsonaro said on Monday. He expects foreign ministers of both countries agree on a new date for a meeting with his peer Alberto Fernández after the suggested summit in Montevideo on March 1 fell through due to the Argentina Congress opening sessions on the same day.
The International Monetary Fund won’t offer Argentina a haircut on its $44 billion loan, according to Managing Director Kristalina Georgieva. “Our legal construct is such that we cannot do measures that may be possible for others without this big global responsibility,” she said. An IMF technical mission is in Buenos Aires through Feb. 19 to meet with Argentina officials and assess the country’s debt sustainability. Talks with the IMF will be key for an even bigger negotiation with bondholders to avoid a default.