Following the Government’s move to suspend international passenger flights from “coronavirus affected areas” for a period of 30 days, some 154 weekly flights would be affected. The estimate consists of 84 weekly flights from the United States and 70 from Europe. Source: Clarín
The country risk, which measures the debt relief surcharge that the country must face, exceeded 3,000 points for the first time since 2005. Although the market attributes it to the coronavirus pandemic, this indicator is advancing more in Argentina than in other territories. In one month it has already risen 60%, closed at 3,225 points and during the day had bordered on 3,300. The Merval dropped 9.76%. In addition to the adverse international environment, there is also uncertainty about the local trade-off offer.
In another day of maximum tension in the markets due to the effects of the coronavirus, the dollar rose sharply in Argentina in all its versions: The tourist dollar, which bears the 30% surcharge for the COUNTRY tax, rose 37 cents to $84.53. In the informal market, the parallel jumped to $82.25. In the stock market, the “Liquid Cash” dollar (CCL) obtained from the purchase and sale of shares or bonds in the stock market reached $90.11 during the round.
According to a study by the Argentine Association of Private Capital, Entrepreneurs and Seeds (ARCAP), investments in the sector exceeded $400 million in 2019, with Fintech and Biotechnology being the areas with the most significant growth. The ventures that received financing are in the city and province of Buenos Aires, with a strong predominance of men.
This Thursday, the INDEC released the Consumer Price Index (CPI) for February, which recorded monthly inflation of 2%. The most significant increase in February was in the Restaurants and Hotels category, influenced by the high season and the end of the holidays, with a variation of 3.1%. In second place was Food and Beverages, the item with the most significant impact on the general level, which recorded a rise of 2.7%.
The price of soybeans fell Thursday to $314.17 per ton (-1.5%), in the reference market of Chicago. Wheat fell to $186.75 per ton (-1.8%), and corn fell to u$s145.57 per ton (-2.6%). For Argentina the impact is important because China is the largest importer of agricultural products in the country; it is the recipient of 90% of soybean exports, 70% of beef (over $2 billion) and 22% of pork ($3.5 million in 2019).