The U.S. chain's decision to sell its operation in Argentina focuses on concentrating all its efforts on the U.S. market, where Walmart is a leader in the retail segment. They will maintain 9,000 jobs in the chain's 92 stores across the country, and the brand will change. The chain has 12% of the Argentine market. Although there was no official information on the amount paid by De Narvaez to keep the operation, the group let know that the figure is close to $100 million.
The government will carry out the promised bond bidding for $750 million, to continue to remove pressure on the exchange market and keep the prices of cash with liquidation and the dollar exchange at bay. Offers will be received for a bond in dollars 2030 (AL30) for up to $500 million and 2035 (AL35) for up to $250 million. It expects that this operation would interest to investment funds such as PIMCO and Templeton.
In September, oil production fell 9% year-on-year and decreased by 0.4% compared to August. In the case of natural gas, the year-on-year contraction reached 10.9%.
After the temporary drop in retentions, the agro-export sector took advantage of the situation to record foreign sales up to December for a total of a little more than 3.45 million tons, which represents $1.87 billion in income.
Inflation will accelerate in the last quarter, exceeding 3% per month, to close the year at close to 35%. It is the projection of the consulting firm Ecolatina, which highlighted that during 2020 various imbalances and arrears would have accumulated, possibly returning the index to the 50% zone in 2021. This estimate corresponds to the Central Bank's forecast of a rise in consumer prices of around 48.9% for next year.
Toyota announced that it would invest $50 million to add two new versions to the vehicles it manufactures in the Zárate district of Buenos Aires. From there, it will begin production of the latest versions of its Hilux and SW4 models, which will have technological and safety updates. On the other hand, the Japanese firm ratified together with its partners in the company Sales de Jujuy another $400 million to increase the production of lithium carbonate that will destine to the manufacture of batteries.
By the end of the year, mining exports would fall by 25%. It is a result of the drop in activity imposed by the coronavirus restrictions on all sectors of the economy. Exports of lithium, gold and silver will total around $2.4 billion in 2020.