Argentina’s state-owned oil company, YPF SA, said it had swapped almost 60% of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month. Holders of a total 59.8 percent of a $413-million bond due in March said they would exchange their notes in the swap, according to a company statement. Argentina’s largest energy company also won support from 43% of creditors to exchange its 2024 notes, and 37% of holders of one of its securities maturing in 2025.
Argentina's soybean harvest will reach 49 million tonnes in 2021, thanks to rains in recent weeks, resulting in projected revenue of $22.5 billion. Maize crops are also expected to increase their production by 2.5 million tonnes to 48.5 million tonnes in 2021, which is expected to bring an income of $7.34 billion. Adding these figures to wheat production revenues, foreign exchange earnings of $35.9 billion are expected to be achieved in the current crop year.
Argentina consumer prices rose 4.0% in January versus a month earlier, the country's statistics agency said, flat against December's result and slightly ahead of analyst expectations amid fears inflation is heating up in the country. Rolling 12-month inflation was clocked at 38.5% in the month. The INDEC statistics agency cited price rises in food and non-alcoholic beverages, especially meat, fruits, butter and oil.
Díaz & Forti, the cereal company of the Olio Group that has two contracts to operate the facilities of the agro-exporting company Vicentin, has filed for insolvency proceedings. Díaz & Forti has had its activity halted, with its registration suspended, due to a prohibition by the Central Bank who accuses it of not having liquidated foreign currency for $400 million, although the company claims that it does not exceed $200 million.
HBO Max confirmed that the streaming platform will arrive in Argentina and Latin America by June 2021. HBO Max is currently positioned as one of the most competitive streaming platforms in the industry with a catalog that include productions from Warner Bros, DC and others.