Government to pay the IMF $300 million to avoid affecting dialogue

The Argentine government will pay next week a maturity of around $300 million to the International Monetary Fund (IMF) to keep negotiations open. The negotiations between Argentina and the IMF for a new programme are a key piece of the economic chessboard for 2021. The official intention is to reach an agreement with enough time to be able to start negotiations with the Paris Club.

US, Argentina agree to exchange country-by-country reports on large multinationals

The US and Argentina have signed a competent authority agreement to exchange country-by-country reports describing aspects of the tax affairs of large multinational groups, the US IRS announced today. The aim of the exchange is to allow country tax authorities better insight into the activities of the multinational and it’s into its tax liabilities and payments.

Argentina’s trade volume fell 14.9% in 2020, but with $12.5 bn surplus

Argentina’s 2020 trade volume was $97.24 billion, 14.9% down from the previous year, but with a trade surplus of $12.528 billion, the INDEC statistics bureau reported. Exports totalled $54.884 billion, 15.7% less than the previous year (down 13.2% in volume and 2.9% in price) while imports were $42.356 billion, 13.8% less than in 2019 (with volume down 10.7% and prices 3.5% lower).

Wine consumption increased by 6.5% in 2020

Wine consumption in the domestic market closed 2020 with a 6.5% rebound over 2019, representing some 57 million litres more than the previous year, said a report by the National Institute of Viticulture. The study points out that the fall in consumption had been accentuated since 2016, worsening in 2018, when the lowest historical figure of 18.7 litres per capita was reached, but in 2020 per capita consumption reached 21 litres.