According to the World Bank, Argentina’s economy will grow 6.4% this year

The World Bank improved its growth projection for the Argentine economy this year: the entity estimates that the GDP will recover by 6.4%, 1.5 percentage points more than foreseen in its previous report. Thus, it is closer to different private estimates that show that the rebound for this year could, if some factors are taken into account, exceed 7%.

A trade surplus of $865 million estimated for February

After December's deficit, which interrupted 27 consecutive months of positive results, the trade balance started the year with a trade surplus of over $1 billion. The trend seems to sustain during February. According to different consulting firms, in the second month of 2021, the Argentine Trade Exchange (ICA) recorded a favourable balance of $865 million, sustained by exports from the agricultural sector.

Digital House, an Argentinean talent development firm, raises $50 million

Digital House, a company dedicated to training talent in the knowledge economy, has just received an injection of $50 million from its impressive headquarters in the Belgrano neighbourhood. It is the most significant investment for an organization of its kind, focused on immersive remote courses. Digital House has expanded throughout most of Latin America. It is an expert in training new technologies: Mercado Libre, Globant and the River Wood fund, the leading investors.

Crude oil rose 5%

Brent crude oil rose 5.4% and closed at $64. WTI crude oil rose 5.3% and closed at $60.80. The increases are due to a report on crude oil inventories in the United States, which showed a higher demand from refineries, and to difficulties in navigation in the Suez Canal, a key route for crude oil shipments from Arab oilfields.

The U.S. could complicate Argentine steel and aluminium exports: $700 mn at risk

The inauguration of the US Secretary of Commerce, Gina Raimondo, came with disturbing news for Argentina: she anticipated global tariffs changes in the short term. Argentina achieved quotas for steel exports of 180,000 tons complied with and that enter without paying tariffs. The same applies to aluminium, which shipped without restrictions. It maintained until now. For Argentina, this means total exports of $700 million. That is what is at stake if this preference is modified.