According to data from the INDEC, the unemployment rate was 13.1% between April and June, 2.5 points more than in the same period in 2019, which was 10.6%. The total loss of jobs was 3.9 million. The 2020's Q2 was the most affected by the quarantine due to coronavirus, with a GDP's fall of 19.1% year-on-year.
Day: September 24, 2020
Cereal harvest would fall 6%, and dollar income would drop to $25.15 billion
Estimates for the 2020/21 campaign detail that total grain production would be 120.8 million tons, which shows a drop of 6.1% concerning the previous cycle, while income from exports would show a contraction of 3% to reach $25.15 billion.
Real estate sales in the city of Buenos Aires fell 46% in August
The sale of real estate in Buenos Aires City registered in August a decrease of 45.9% concerning the level of a year before. The total amount of transactions carried out decreased by 41.2%. It is the twenty-seventh consecutive month with a drop in the year-on-year measurement.
Metrotel and Silica Networks invest $10 M in a new local fibre optic line
Metrotel and Silica Networks are two essential players in the telecommunications sector. The companies partnered in a joint investment of 10 million dollars for the construction of a new route of their networks to link Buenos Aires with the mooring stations of the submarine cables of international connectivity that arrive at the town of Las Toninas, in the Municipality of La Costa. The work included the construction and lighting of a high capacity fibre optic line of more than 450 kilometres.
Moody’s warns of growing private default risk by official regulation
Moody's estimates that communication A 7106, which restricts the access of indebted companies to the official dollar market to cancel their obligations, will harm the capacity of local companies to pay in time and form. For the financial firm, the capital maturities of negotiable obligations (corporate bonds) between October 15, 2020, and March 31, 2021 (the period in which, in principle, this limitation applies) total $12.53 million.
