Smaller exchange rate gap would encourage $5 billion in soybean sales

The dollar starts another week in calm, far from the peak of October 23, where the gap between the official and the blue dollar was 149%. Meanwhile, in the countryside, soybean planting for the new season is advancing, but 13 million tons of the 2020 harvest have yet to be sold, valued at a little more than $5 billion, which could come in the next few weeks, encouraged by a context of greater certainty and rising international prices.

Food prices rose 2.1% so far in December

The price of food accumulated a rise of 2.1% in December. The food and beverage index presented average monthly inflation of 4% in the last four weeks and 5% measured from the second week of December to the second week of November. These price levels leave a carry-over for the remainder of December of 3.9. During last week, meat increased by 4.3%, with a rise of 6.6% in beef. The government is seeking to implement tools to lower the increases in the basic basket.

In October, production credits increased by 80%

Financing for SMEs grew 80% year-on-year in October, with a positive impact of lines with subsidized rates. Despite the significant boost, the high cost of discounting checks persists. However, the comparison base is low, and Argentina has not managed to consolidate credit. The challenge is to encourage the use of other instruments in the capital … Continue reading In October, production credits increased by 80%

Government exchanges peso securities for $750 mn of dollar bonds

This week, the government is facing a new exchange of 8 pesos titles for a combination of AL30 and AL35, an issue equivalent to $750 million. The objective is to give an easy way out to foreign funds entered Argentina encouraged by the high yield of the carry trade and that, after the imposition of limits in the currency market, were trapped in the country. The Economy Department assures that this alternative opens an exit door for this type of investors who do not consume Central Bank reserves.