On Monday, an Argentine court ordered YPF to pay $231 million, plus interest and court fees, to the natural gas pipeline operator Transportadora de Gas del Norte for unpaid invoices from February 2007 to December 2011, according to securities filings by both companies.
Argentina is preparing to sell $750 million in US dollar-denominated bonds on the local market, a latest measure to try to deter capital flight that has been bleeding international reserves and weakening the peso.
The measures announced by the Government in early October to support wine exports involve an increase of more than 100% in reimbursements for shipments of bottled and bulk wine, sparkling wine and must. The impact of these measures would represent an estimated improvement in the sector's income in the order of $36.9 million.
Canadian mining company Barrick Gold plans to invest $628 million in projects in addition to the plan to extend the life of the Veladero gold mine in San Juan Province. It was announced yesterday by Barrick's CEO, Mark Bristow, who assured that the redesign of Veladero and the high international price of gold would allow the exploitation of the deposit until 2033 with an impact of $5 billion on the Argentine economy.
Wholesale prices recorded a 3.7% increase in September, representing a 34.6% increase in the year-on-year comparison. The accumulated figure for the first nine months of the year, meanwhile, was 18.9%. The exchange rate gap, preventive increases and devaluation expectations were some of the reasons given by analysts to explain the rise. They also pointed out that these increases could transfer to inflation in the coming months.