Inflation accelerated last month in Argentina at the fastest pace in 18 months, threatening to derail the fragile economic recovery six months before key midterm elections. Consumer prices in Argentina rose 4.8% in March from February, according to the INDEC national statistics bureau. The monthly figure was the highest since September 2019. Annual inflation reached 42.6 percent in March. Prices have now risen 12.4 percent in the first quarter.
Moody's changes banking system outlooks to stable in Argentina, Paraguay and Panama. Outlook change to stable from negative was prompted by improving operating conditions in Paraguay and Panama. The outlook of Argentina’s banking system was also changed to stable from negative driven by banks’ relatively strong fundamentals, despite increasingly challenging operating conditions.
The Argentine government raised Ar$37.80 billion ($407.72 million) after a tender called to raise at least Ar$75 billion ($808.90 million), or just 50.5% of what it was seeking despite having accepted all the purchase bids it needed to pay the financial debt maturing in the next few days.
Argentina's government created a registry of beef exporters among other measures to curb under-invoicing, which authorities fear has been going on for a while now. The announcement was made by the Office of the Cabinet Chief (Santiago Cafiero). The goal is to improve the monitoring of beef exports and the supply to the domestic market, the government said in a statement.
The government admitted that the road blockade in Neuquén, near the Vaca Muerta gas field, will affect gas production for next winter. This will mean importing more supply or burning liquid fuels, which are more expensive and pollute more.