The Arcor Group agreed with the American Ingredion Incorporated to create a new partnership in the business of ingredients solutions for the food and beverage industry. Arcor will have 51% of the shareholding. The alliance comprises an estimated annual turnover of more than $300 million.
Congress passed almost unanimously a new law making parliamentary approval mandatory before signing any debt agreements, including with the International Monetary Fund (IMF), with whom the government is currently renegotiating the payment of major loan.
Economy Minister Martin Guzman said that a deal with the International Monetary Fund to restructure its $44 bn debt will not come at the price of sweeping budget cuts. "Austeriry is not the way to go he said. According to him, Argentina has to balance the twin goals of avoiding the destabilising effects that too much monetary financing can have on the exchange rate while still having enough expansion to boost the economy. He added that the correct level of deficit for the country is the 4.5% outlined in the 2021 budget.
Argentina has the potential to increase its lithium exports from $190 million in 2019 to $2.1 billion in 2030. Also, employment generated by the lithium industry has doubled in the last three years. As of June 2020, more than 4,400 direct and indirect jobs were registered. Today, lithium exploitation is taking place in a triangle formed in the Andes mountain range that links Argentina, Bolivia and Chile. Companies from the United States, Canada, Japan, Australia, South Korea, Italy and China compete there.
The wine industry aims to reach, in the next ten years, 1 billion litres sold in the domestic market and generate exports of $1.38 billion, of which $1 billion would correspond to bottled wine (bottles). This would mean a 40% growth in exports in terms of value.