IMF makes available to Argentina between $1.5bn and $1.75bn

The IMF is prepared to make available to Argentina between $1.5 billion and $1.75 billion to deal with the global economic crisis triggered by Coronavirus. The Fund could release more money for the country in the face of the crisis, through Special Drawing Rights (SDRs) maintained by the agency, which allows it to double the allowed amount. It would be between $3 billion and $3.5 billion.

Unemployment rate reached 8.9% in the last quarter of 2019

The unemployment rate reached 8.9% in the last quarter of 2019, 0.2 percentage points below the same period in 2018, with a slight increase in informal employment. According to the National Institute of Statistics and Censuses, this drop in the unemployment rate occurred even though the Gross Domestic Product shrank by 2.2% last year, with significant declines in manufacturing production, construction and trade.

The S&P Merval fell 3.2% and bonds rose to over 10%.

The leading S&P Merval index of Argentine stock exchanges and markets (BYMA) fell by 3.2% to 25,484 units by intraday profit-taking. Argentine sovereign bonds consolidated their improvement and climbed to more than 10%, in line with the rise in external markets. Argentine country risk, as measured by JP. Morgan, fell 103 units 4,143 basis points, after reaching levels of 4,519 on Monday.