Argentina and BlackRock have a business relationship that will last much longer than debt renegotiation with creditors. The fund managed by Larry Fink not only maintains strong and deep investments in the country's financial economy; it also has extensive investments in the productive economy. It will happen if the government moves forward with the nationalization … Continue reading Nationalization of Vicentin would imply that BlackRock shares 25% of Renova
With no trading on the local stock market due to the holiday, ADRs fell by over 6% yesterday in an initial reaction to the rejection by the Ad Hoc group of creditors of the new offer presented by the government to restructure the debt. The country risk, meanwhile, rose 1.92% to 2,337 basis points.
The Government will put more effort in the reform of income and personal property taxes, so that they have a more significant relative weight on the total of taxes collected, to recover a reduction of 3 points of the GDP between 2015 and 2019.
The Central Bank resolved that importing companies may access the wholesale foreign exchange market for up to $1 million to cancel both commercial debts and Letters of Credit issued by international banks. The resolution of the monetary authority aimed at decompressing the chain of payments.
The province of western Argentina is moving forward with the launch of "Mendoza Activa", which aims to encourage and support the development of small and medium enterprises with a key measure: the State will take over 40% of the investments. Also, it will be an incentive for families to turn in their savings to boost the construction sector.