Argentine Central Bank sold 1.6 bn dollar in September to defend peso

Argentina's Central Bank (BCRA) sold about $1.615 billion of its reserves in September to defend the country's beleaguered peso currency. This is the largest amount of reserves sold in the last 11 months since October 2019. It is estimated that between 45% and 50% of the total loss of reserves in September (some $700 to 750 million) was registered after the BCRA blocked people's access to the exchange market and cut back on the sale to many companies to pay off financial debts.

Some 18 million Argentines, 40,9% of the population live in poverty

Data by the government’s official statistics agency Indec showed that the poverty rate rose to 40.9% in the first six months of 2020, a significant uptick from 35.5% in the second half of last year. The 40,9% is equivalent to some 18 million people. Argentina’s economy contracted a record 19.1% in the second quarter versus a year earlier as the Covid-19 pandemic crippled production and demand, and is on track for a 12% economic plunge in 2020, analysts say.