The National Public Sector (NPS) recorded a primary surplus of 24.07 billion pesos ($269.19 mn) in January. Meanwhile, interest payments on public debt, net of intra-public sector payments, amounted to 27.10 billion pesos ($303.07 mn), so the NPS financial result was a deficit of 3.03 billion pesos ($33.88 mn).
Day: February 23, 2021
JP Morgan bank warned that Argentina’s net reserves reach $3 bn
A report by JP Morgan, entitled "Argentina: the monetary policy labyrinth", notes that the BCRA's net or freely available reserves, which do not include loans and private deposits, are close to $3 trillion, including gold holdings. The BCRA would find it challenging to dispose today of the $2.4 billion needed to cancel a payment with the Paris Club at the end of May; moreover, renegotiating the Paris Club's maturity requires having signed the extended facilities agreement with the IMF, due to statutory issues.
Valenziana to invest $4 mn to expand and export
Santa Fe-based Valenziana, a manufacturer of home furnishings, will start exporting to Paraguay and Uruguay for the first time with the opening of new exclusive stores in neighbouring countries and will open 20 of its stores throughout the country. The firm's decision is part of a master plan that began six years ago and involves an investment of $4 million until 2025.
Poverty in Argentina affects 47% of the population
According to official statistics, 47 per cent of the population - 21 million people - are poor because they live in precarious, overcrowded conditions, have problems with school attendance, precarious employment or access to health care. The most affected are children: 55 per cent of children under the age of 18 in Argentina live in this condition.
Gross value of the soybean and maize crop projected to exceed $25.3 billion in 2021
According to data from the Rosario Stock Exchange, the gross value of soybean and corn crops could exceed $25.3 billion due to improvements in production and high prices. The jump compared to 2020 would be $6.68 billion. The rains in recent weeks led to an increase in the exportable balance and improved producer margins.