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.
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 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).
Economic activity contracted 3.7% in November 2020 year-on-year, the INDEC national statistics bureau revealed. The data means that activity slumped by 10.6% in the first 11 months of 2020, when compared to 2019, mainly as a result of the coronavirus pandemic.
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.