YPF's offer to restructure a $6.2 billion debt has suffered a setback after the company failed to gather a quorum at any of the seven creditors' meetings it held to modify the concession clauses of the series of bonds it is seeking to exchange.
Day: January 26, 2021
Mercado Libre surpasses $100 billion on Wall Street
Argentina's Mercado Libre surpassed the $100 billion valuation on Wall Street and consolidated its position as the most important in the region. The firm that was born dedicated to e-commerce and then expanded into logistics and financial business, tripled its value a year ago.
Province of Neuquén executed refinancing of $265 mn
The Province of Neuquén executed the refinancing of $ 265 million secured loans with Credit Suisse. The refinancing seeks to maintain the provincial public debt at sustainable levels.
Government doesn’t expect to resume IFE payments this year
Argentina will not need a new version of the Ingreso Familiar de Emergencia (IFE) scheme, implemented last year during the coronavirus pandemic, a senior government official has told Bloomberg. The government is working from a base scenario in which restrictions on the circulation of citizens will not be restricted nationwide, as was the case last March.
Bitcoin searches in Argentina spikes significantly as annual inflation rates crosses 40%
Bitcoin searches have seen an unprecedented rise in Argentina when compared to the rest of the world, and many believe the reason could be its annual inflation rate which is currently about 40%. People from financially troubled nations look for assets that can help them store the value of their earnings thus bitcoin seems to be a reliable option because of the ease of accessibility and the fact that governments can’t ban it.
