Day: August 28, 2020

Vicentin: debt with Dutch banks exceeds $245 million

Vicentin’s default became a matter of state for Holland because the leading banks of the European country (Rabo, ING, ABN Amro and the government agency FMO) accumulated a debt of more than u$s245 million, that is, Dutch financial entities provided 50% of the credits taken abroad by the Argentine agro-exporter.

The Central Bank sells foreign currency and accumulates a negative balance of $1 billion in August.

The sovereign debt swap expires this Friday 28th and will serve as a yardstick for the interest and confidence of savers. On the exchange plane, the gradual rise of the official dollar continues, regulated by the sale of BCRA reserves that reached $1 billion in August, while the alternative quotations of the cash with liquidation and the MEP dollar dropped again. Dollars traded on the stock exchange added up to a 7% drop on four wheels.

Meat exports fell 6.9% in July

Beef exports fell 6.9% year-on-year last July as a result of a sharp 23% drop in market prices during the pandemic. In July, meat sales abroad reached $226.1 million, while in the same month of 2019, they had reached $243 million. In volume, meat sales abroad rose 20.9%, which could not capitalize on with fair prices. China continues to be the leading destination for Argentinean meat, and the United States was in fourth place.