Day: August 24, 2020

Reserves: BCRA sales now total $738 million

So far in August, the BCRA has sold $738 million in reserve dollars, exceeding the May maximum of $679 million. It is the most massive net sale of foreign currency of the year, which so far accumulates a total of $1.2 billion. It is not the fault of the $200 quota. The drainage reflects other macroeconomic symptoms, such as the excess liquidity and the investment spirit that so far is declining due to private deposits in pesos.

The export of seeds generates between $150 mn to $350 mn per year

Argentine agribusiness is much more than the export of food, grains and by-products: knowledge and technology play a crucial role that even today is already at the forefront of the export market. The seed industry positions Argentina as a supplier of soybeans to the northern hemisphere. According to projections, off-season seed exports -generally to the United States- generate a foreign exchange of between $150 and $350 million per year.

Dario Martinez assumes today as the new Secretary of Energy

The current president of the Energy Commission of the Chamber of Deputies will leave his position to concentrate on the energy area, which from now on will be under the Ministry of Economy, to provide an integral vision to the energy factor, which affects the macroeconomic stability and the competitiveness of the added value. Martínez will leave the presidency of the Energy Commission of the Chamber of Deputies to take the place of Sergio Lanziani.