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Argentina Económica aims to promote responsible cross-border trade & investment by facilitating the transparent flow of information to and from Argentina.

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Day: April 9, 2020

Eramet cancelled $600M project to produce lithium in the country

The French metallurgical and mining group Eramet announced yesterday its decision to desist from building a lithium production plant in Argentina. He attributed the measure to the uncertainty caused in the world economy by the COVID-19 pandemic.

Posted on April 9, 2020 by beasouvironPosted in Industry

Primary deficit rises to 5.2% of GDP in Argentina

The investment bank JPMorgan estimates that the COVID-19 crisis will involve Argentina reaching a fiscal deficit of more than 5% of GDP this year.

Posted on April 9, 2020 by beasouvironPosted in Macroeconomy/Finance

The price of international oil rose 6%

Brent closed at $32.84 while WTI reached $25.09, prices rose supported by the expectation of Thursday's meeting between OPEC members and allied producers, where they will discuss cutting production to shore up the market.

Posted on April 9, 2020April 9, 2020 by beasouvironPosted in Industry

S&P Merval de Bolsas y Mercados Argentinos (BYMA) grew 5%

The leading S&P Merval de Bolsas y Mercados Argentinos (BYMA) index rose by 5% to 28,018 units, an increase of 5.7% for the week. Argentine country risk increased 190 units, or 5.2%, to 3,842 basis points.

Posted on April 9, 2020 by beasouvironPosted in Macroeconomy/Finance

International reserves of the BCRA grew $84mn to $43.8bn

The BCRA's International Reserves rose this Wednesday from $84 million to $43.8 billion and accumulated growth of $219 million in the last six days. The implicit exchange rates traded in the stock market area shot up to more than 4.25 pesos, with the CCL (cash on hand) reaching more than 94 pesos, so that the exchange rate gap goes up by 40%.

Posted on April 9, 2020April 9, 2020 by beasouvironPosted in Macroeconomy/Finance

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