They will make available the 320 billion pesos ($5.02 bn) available from the liquidation of the Leliqs and the decrease in lace. Loans will expedite via checks and payrolls. This money should be poured immediately into the liquidity of public and private banks, which, in theory, would have to start working quickly with their customers to have lines of loans with a rate of 25%, and if possible, less.
With the local market closed for National Memory Day, Argentine ADRs on Wall Street shot up to 22% on Tuesday, while Argentine bonds trading in New York also rose. As a result, Argentina’s country risk dropped 93 points to 4,269 basis points, a decline of 2.3%, according to data from rating agency J.P. Morgan.
After the mandatory quarantine, ordered by the government last Friday, the demand for fuel plummeted by up to 85% over the weekend. Oil production is down somewhat, between 15% and 20%, compared to the days before the measures; although drilling and completion of wells stopped, they are in a safe condition. Revenues are going to be negatively affected.
The real estate market in the province of Buenos Aires registered a 27.4% year-on-year decline in February. In the second month of the year, 3,182 titles registered. The total amount of real estate transactions was 8,198 million pesos ($128.7 bn). Concerning total amounts, there was a 19.3% decrease compared to the same month in 2019.
The government’s economic team came to the aid of self-employed, single-tax payers and informal workers; with an extraordinary bonus of 10,000 pesos that will be paid in April, and will involve an injection of 36.747 billion pesos ($581.1 billion). The measure will cover 3.6 million families, almost 30% of households in the country, in a segmentation made by poverty rate and the impossibility of replacing the activity with telework.