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YPF offers to redeem $1 billion bond

YPF announced yesterday a proposed swap to extend the maturity of a $1 billion international bond. The paper matures in March 2021. The proposal is to offer those who join a cash payment and a new series of Negotiable Obligations with final maturity in 2025. Thus, for every $1,000 face value of Class XLVII, the investor will get $100 cash and $950 face value of a new series.

Trade with Brazil fell by 35% in June

Bilateral trade with Brazil reached $1.1 billion during June, according to official data from the Brazilian government. It means a year-on-year contraction of 35%, the lowest level since 2003. The bilateral trade balance showed a deficit of $103 million for Argentina.

Support for Covid-19 is now 2.9% of GDP

Although the national government estimates that in total it injected 5 points of the product into different direct and indirect programs to confront the pandemic, the amount spent up to May reaches 2% of the GDP. If we add to this the spending of June, the amount rises to 2.9%.