Argentina and China are working on an ambitious medium-term plan to implement 15 Chinese investment projects in infrastructure, energy and transport worth some $30 billion. This is one of the government's biggest bets in terms of international economic and trade agreements planned for the post-pandemic period.
The 83-MW Chubut Norte IV Wind Park has been cleared to commence the supply of electricity in Argentina, oil and gas company Pan American Energy LLC (PAE) announced on Friday. The wind park, built in partnership with domestic energy producer Genneia SA, required a total investment of $120 million.
State-owned oil company YPF announced a new amendment to its offer to restructure $6.2 billion in bonds. YPF received a proposal from the Ad-Hoc YPF Bondholder Group, which holds approximately 45% of the 2021 bond, requesting a final amendment to the exchange conditions of the bond to commit its participation in the transaction. Sources close to the negotiation indicated that the Ad-Hoc Group's proposal was presented to the company's board of directors, who resolved to approve the requested modifications.
The Argentine central bank authorised exporting companies to operate in the foreign exchange market for the cancellation abroad of principal and interest services of debt securities issues registered abroad. Communication "A" 7218 allows the issuance of foreign currency debt in the international market to be subscribed by investors from other countries and to bring the dollars into the country.
The retail sales index fell by 5.8% year-on-year in January, according to a survey by the Argentinean Confederation of Medium-sized Businesses (CAME), analysing that at the beginning of the year families spent a large part of their money on holidays and debt repayments, affecting the consumption of goods.