Day: May 26, 2020

BCRA remunerated debt rose $10.96 billion

The BCRA’s remunerated debt rose by 747.39 billion pesos ($10.96 bn), while the Leliq’s increased by 1.34 trillion pesos ($19.62 bn). In sum, there is a stock of remunerated debt of 2.08 trillion pesos ($30.58bn). So far this year, the BCRA should have assisted the Treasury by 312 billion pesos ($4.58 bn), only by way of Temporary Advances, plus another 600 billion pesos ($8.8 bn) under the figure of Profit Transfer, to cover the fiscal deficit enhanced by the cost of the pandemic.

Crucianelli Group announces $10.8 million investment

Crucianelli Group, a manufacturer of agricultural machinery, announced an investment of $10.8 million. The plan of the industrial group of companies consists of the expansion of workshops, the purchase of a 30-hectare property to create an industrial city, the construction of a new plant for the manufacture of parts and sheet metal parts, and the expansion of the existing Crucianelli Fabril S.A. plant.

International reserves decreased by $400 mn in five days

The Federal Reserve of the United States will be able to guarantee the access of new dollars to the Argentine Central Bank (BCRA), in case it requires it, this will allow strengthening the free availability reserves, which decreased during the last weeks. International reserves closed the week at $42.7 billion, accumulating a contraction of almost $400 million in the previous five days.

Inflation could approach 2% in May

Analysts participating in the Central Bank’s Relevamiento de Expectativas del Mercado (REM) forecasted at the beginning of the month that monthly inflation in May would be 2.5%. In July it would rise to 3.1%, in August to 3.3% and 3.6% in September and October.

Arcor earned $7 mn in the first quarter

Arcor food company reported that during the first quarter of the year achieved a net profit of 476.6 million pesos ($ 7 mn), thanks to a plan to contain the rise in costs even though in the quarter sales fell by 7% in turnover and 5% in volume. It also managed to recover losses.