The government announced that it had reached a debt restructuring agreement with three key creditor groups to exchange $66.3 billion of foreign-issued securities. It also indicated that it extended until the 24th of this month the deadline for creditors to join the exchange. He improved the payment amount and adjusted dates.
Day: August 4, 2020
The trade deficit with Brazil was $147 million in July
Trade with Brazil recorded a deficit of $ 147 million in July, totalling three consecutive months in red, as a result of a drop in Argentine exports, which recorded a sharp fall of 38.9% year-on-year in July. The value of exports was $554 million, while imports shrank by 18.6% and totalled $701 million, according to official information from the government of the neighbouring country.
The government will relaunch the Procrear program with an investment of $345 million
Fourteen thousand houses will build, 273,000 credits will grant for renovation and expansion, and 10,000 new lots will award with services throughout the country, with an investment of 25 billion pesos ($345 million) in 2020. The program will include nine lines that range from the acquisition of homes and the granting of credits to access lots with services, to loans to buy construction materials and hire labour to make repairs on houses already inhabited.
Techint lays off 140 employees to reduce suspended employees’ salaries to 50 %
Techint carried out the 140 layoffs late on Friday and threatened a lockout at Siderca and SIAT. The dispute started when the conglomerate announced last week its intention to pay only 50% of the salary to its licensed personnel during the pandemic.
Globant buys gA for $74 million, consolidates leader in IT services
The Argentinean unicorn Globant (NYSE: GLOB) surprised the market on Monday with the announcement of the acquisition of Grupo Assa (gA), a global company in digital transformation and cloud services with presence in the US, Argentina, Brazil, Chile, Colombia, Mexico and Spain, for a total investment of $74 million. The acquisition strengthens Globant's cloud capabilities and allows it to expand its Healthcare and Life Sciences portfolio. Once the news was known, the company's shares reached a historical record in the NYSE, climbing 4% to $179.87.
Agriculture registered an inter-annual fall of 10.5% in foreign exchange settlements
The liquidation of foreign currency in agriculture registered an inter-annual fall of 10.5% in the first seven months of the year, with a total of $11.6 billion, against $12.9 billion obtained in the same period of the previous year. This decline is explained by the fall in international prices of the main crops, the increase in shipments of soybeans, to the detriment of products with higher added value such as oils and flours.
