The rating agency Moody's warned that credit risks in Argentina remain high, due to the deepening economic contraction that began in 2018. The challenging macroeconomic environment, which includes high inflation, low liquidity and low credit availability, is likely to continue to affect various debt issuers. By the end of Q1 2021, Argentina's economy will have lost more than $100 billion in value, or 14.5% of GDP, as recorded three years ago. No losses are forecast beyond the 35%-65% range associated with Argentina's current sovereign 'Ca' rating.
The Ente Nacional Regulador de la Electricidad (ENRE) authorized the entry into the Argentinean Interconnection System (SADI) of two photovoltaic energy generating plants located in the province of San Juan. The Guañizuil II-A Photovoltaic Plant, located in the department of Iglesia, has a capacity of 100 MW and will be linked to the 132 kilovolts (kV) network of Energía San Juan and will provide electricity to 70 thousand homes in San Juan. The Tamberías photovoltaic plant has 3 MW and locates in the department of Calingasta. It will connect to the SADI in 13.2 kV bars.
Intel Corporation is the world's largest integrated circuit manufacturer and valued at $218.5 billion. The firm will increase its investment in the country to convert the office into a regional headquarters. It is working in Argentina for more than 20 years, with more than 60 high-quality jobs, which it plans to increase to 100 by the end of the year. The regional office will provide support to Latin America and Canada.
Argentina's Silvina Moschini is the founder and leader of the remote work management firm TransparentBusiness, which became a "unicorn" when it reached a private valuation of $1 billion and plans to go public in the fourth quarter of 2021. TransparentBusiness, created in 2012, grew with the technology boom caused by Covid-19 pandemic and is positioned as a "unicorn," along with 488 other companies around the world.
A report prepared by Argentina's Agricultural Foundation for Development (FADA) showed that agroindustrial chains account for 2 out of every ten jobs in the private sector. According to official figures, 3,716,317 people are working in them, 22% of private employment at the national level.