To federalize financing, the Government presented this Wednesday a line of credit for SMEs in the province of Jujuy for an amount of 400 million pesos ($5.06 mn), at a subsidized rate of 22%, guaranteed by the National Fund for Productive Development (Fondep).
Day: November 5, 2020
Dollar deposits in the private sector decreased by 9.2% in October
According to a First Capital Group report, in October dollar deposits in the private sector decreased 9.2% ($1.48 billion), totalling $14.66 billion. In year-on-year terms, the decrease is 23.4%.
Pampa Energía celebrated 15 years, declaring investment of $7.2 bn
Pampa Energía celebrated its 15 years of activity in the energy sector with the traditional "ringing of the bell" at the New York Stock Exchange and highlighted that it invested more than $7.2 billion. Pampa Energía is the largest private electric power generator, with eight thermal power plants in operation, three hydroelectric power plants, three wind farms and one cogeneration plant, with 5,000 MW of installed power, 12% of the country's total.
José Martins, unanimously re-elected president of the Grain Stock
The meeting of the Grain Stock's Board of Directors held virtually and distributed the Executive. Mr José Carlos Martins was re-elected President. This year the President will be accompanied in the task by Mr Roberto B. Curcija, 1st Vice-President; Raúl C. Dente, 2nd Vice-President; Ricardo Forbes, Honorary Secretary; Horacio E. Botte, Treasurer; Rafael Aliaga, Assistant Secretary and Alfredo A. Paseyro, Protesor.
Mercado Libre is already the most valuable company in Latin America, exceeding 61 bn
Mercado Libre presented its balance sheet on Wall Street. The shares rose 6%, and their market value exceeded $61 billion. Between January and September, it earned $152.8 million. The quarterly turnover reached $1.11 million: 148.5% more than in 2019. The e-commerce division represented $724.5 million, growing 109.3%; while Mercado Pago, $391.2 million, increased 52.3%.
The exchange rate gap complicates the trade with Brazil; the deficit reached $21 million
The widening of the exchange rate gap is already making itself felt in the relationship with Brazil and aims further to increase the deficit with the leading trading partner. In October it reached $21 million and will be close to $500 million in 2020.
