Vlocity, a leading provider of industry-specific cloud software, announced a successful digital transformation program with Telecom Argentina that simplified Telecom Argentina’s systems and processes after multiple acquisitions, while upgrading the customer experience for nearly 30 million subscribers.
The Argentine government is considering the creation of a tax on “large fortunes”, after collection has fallen by almost 29% due to the emergency situation decreed in the country to try to stop the advance of the Coronavirus.
Echo Energy PLC has told investors it is adapting its production operation in Argentina to focus on gas, and, at the same time, it is taking steps to cut costs. The moves come amidst the Coronavirus (COVID-19) pandemic and weak oil prices, with an expectation of higher gas prices as the southern hemisphere moves into the autumn and winter.
Argentina’s Gross Domestic Product will contract by 5.7% in 2020 due to the impact of Coronavirus, according to the International Monetary Fund (IMF). The international organisation projects that by 2021 the GDP will rebound by 4.4%.
Argentina will propose to the creditors of debt under international jurisdiction that they lose more than 50% of their holdings, that they begin to collect from 2024 or 2025, and that the main reduction of their investments in the country is in the interest they thought they were going to collect, since from 2024 they will only receive 1% of what was agreed.