Month: July 2020

External debt reached $274.25 billion in Q1

The stock of total gross external debt with debt securities at nominal residual value as of March 31, 2020, was estimated at $274.247 billion, according to the INDEC. It is a decrease of $4.24 billion from the previous quarter. 94% of the external debt at nominal value is in foreign currency, 59% is in dollars. The current account registered a deficit of $444 million.

Formal private sector wages fell by 0.2%

The wage index increased by 0.2% in April, it includes a decline of 0.2% in the income of private workers, a rise of 0.7% of unregistered employees, and an increase of 0.6% in salaries of public employees. The wage index in April was below inflation, which was 1.5%. If real wages do not recover after the isolation measures, 2020 will become the third consecutive year of loss of purchasing power. In 2018, wages fell by 6.3% and in 2019, by 9.5%.

Because of the coronavirus effect, there are 61,000 companies at risk of closing

Sixty-one thousand companies are on the verge of closing down, and some 260,000 workers are on the brink of being fired. The most vulnerable segment is that of micro-enterprises, where 12% are on the verge of bankruptcy. Companies linked to commerce are the most affected with a 10% chance of closure, followed by service companies (9%), manufacturing industry (7%), construction (7%) and those related to the countryside and mining (4%).