The BCRA enabled banks to migrate the portion of reserve requirements integrated into Leliq (Liquidity Bill) to Treasury debt securities from June. Although the potential stock exceeds 700 billion pesos ($7.4 bn), a report estimated that the government could obtain an additional 90 billion pesos ($951.78 mn) by this means as it is a voluntary measure.
The loss of purchasing power of salaries is not a novelty: an employee belonging to the informal sector, in the last three years, lost the equivalent of 7 wages, while if he/she belongs to the formal sector of the economy, he/she had to give up three salaries. Public employees lost 4.5 salaries. Devaluation in Argentina has an impact on prices, and this affects real wages.
The BCRA started to transfer profits to the Treasury: 50,000 million pesos ($528.76 mn). The quasi-fiscal deficit has expanded hand in hand with the growing stock of Leliqs and Pases. These are profits, and the BCRA is legally authorized to transfer them to the Treasury.
Ledesma is investing $25 million in an agricultural plan to grow in competitiveness through innovation in its field management. $15 million invested for this harvest.
Gross investment grew 58.2% year-on-year in April to $5.43 billion, accumulating an expansion of 27.8% in the first four months of the year. Compared to April 2019, productive investment decreased 0.7%.