The trade union strike that keeps Argentina's main export ports inactive would be generating losses of around $100 million a day. Meanwhile, foreign exchange settlements would close this year with a drop of about 15%, and December would see revenues below one billion dollars.
Day: December 15, 2020
Scania announces three-year investment plan for $45 million
Scania Argentina announced the implementation of a three-year investment plan for $45 million over the period 2020-2022 at its plant in Tucumán, where it produces the transmission systems for the vehicles that the brand assembles in Europe and Brazil. The expansion of the plant's production capacity will involve the incorporation of 150 new workers.
Banco Provincia grants loans to SMEs for $24.27 million
The Banco Provincia de Buenos Aires has granted more than 2 billion pesos ($24.27 million) in loans in La Plata district at an annual rate of 24% so far this year, within the framework of the SME Reactivation programme launched at the beginning of the year to rebuild Buenos Aires' productive framework. A total of … Continue reading Banco Provincia grants loans to SMEs for $24.27 million
Car prices increase by an average of 40% in 2020
With the arrival of this month's 0 km price lists, a shocking fact occurred: there are no models under 1,000,000 pesos left on the market. Measured at the official exchange rate, the lowest priced models cost $11,500, equivalent to about $6,900 of the blue. In the year, the average increase was about 40 per cent.
Debt-to-GDP ratio could approach 100%, the highest level in 15 years
One of the government's objectives is to keep the ratio of public debt to GDP stable. Well, this ratio increased by more than five percentage points during the first half of the year and, despite the debt restructuring process, could close the year at around 100%. In other words, Argentina owes practically everything it produces. For a country that has no financing in the voluntary debt markets, this percentage sets off all the alarms. Debt-to-GDP ratio could approach 100%, the highest level in 15 years.
