Fintech Ualá could be the sixth Argentine firm worth more than $1 bn

According to CB Insights, the fintech Ualá could become the sixth Argentine firm valued in more than $1 billion. The other five firms are Mercado Libre, Despegar, OLX, Globant and Auth0. Ualá was founded in 2017 by economic historian Pierpaolo Barbieri and received investments from billionaire George Soros, Tencent and SoftBank. Since the quarantine, the firm has issued 170,000 cards, and payment for services through the app has increased by 300%.

Salary measured in dollars, at the lowest level in 14 years

April's RIPTE (Average Taxable Income of Stable Workers) index, shows that Argentina's average formal wage lost against inflation and fell in real terms by 1.3% year-on-year. Thus, the legal gross salary in May in dollars would be $813 measured to the official dollar; but converted to the Settled dollar, which is another way of seeing a country's exchange competitiveness, it would be around $470, the minimum since 2006.