The Central Bank (BCRA) approved yesterday an agreement with the Central Bank of Paraguay (BCP) to implement the Local Currency Payments System, which will allow payments between individuals or legal entities residing in both countries in both pesos and guaraníes.
Category: Geopolitics
Information about international economic affairs that can impact the Argentinian economy.
PwC to invest $45 mn in the country through 2024
PwC presented its new global strategy that involves a total investment of $12 billion for the next five years and the creation of 100,000 new jobs. In the specific case of Argentina, the estimated investment is $45 million between now and 2024, with 1,000 open positions in various areas.
Covid: Argentina could manufacture almost 200 million vaccines
Argentina is one of the 35 countries worldwide where the vaccine to combat the coronavirus is manufactured, together with Brazil and Mexico. In the AstraZeneca vaccine, the active ingredient part produced in the MAbxience laboratory, where 90 million doses have been made and expect to reach 180 million this year. Sputnik V's fractionation and packaging part carry out since last week at the MR Pharma laboratory, where they hope to produce 5 million doses per month. On the other hand, negotiations are progressing to make the Chinese vaccine Sinopharm at Sinergium Biotech part of the Insud Group.
Almundo completes 100% acquisition of Avantrip
The Brazilian company CVC Group, owner of Almundo, informed the Brazilian Securities and Exchange Commission that it acquired the remaining 39.94% stake in Grupo Bibam (with Biblos, focused on luxury tourism Avantrip, an online agency), both based in Argentina. CVC Corp becomes the most influential travel group in Latin America with this purchase, which already … Continue reading Almundo completes 100% acquisition of Avantrip
YPF Luz reached 175 MW in Los Teros wind farm
YPF Luz's Los Teros Wind Farm, located 45 kilometres from the town of Azul in Buenos Aires, added 52 megawatts and reached 175 megawatts of installed power, equivalent to the electricity needed to supply 215,000 homes. The wind farm has 45 wind turbines installed on a total surface of 3,610 hectares, can produce 838 GWh … Continue reading YPF Luz reached 175 MW in Los Teros wind farm
IDB to lend $200 mn to Argentina for sanitation works
The Inter-American Development Bank (IDB) approved a $200 million loan to finance a drinking water and sanitation program to benefit some 184,000 households "with new and improved connections to these basic services in towns with less than 50,000 inhabitants". The Argentine government will provide the remaining $50 million to carry out the project.
The price of beef increased by 6.1%
Beef in butcher's shops in the Buenos Aires Metropolitan Area rose 6.1% last month, despite the closing of exports to combat inflation.
Oil and gas-producing provinces quadrupled their royalty income
The hydrocarbon producing provinces had in April an essential contribution to their revenues from royalties, which increased 282% in pesos in twelve months, due to the combination of payments in dollars, the low base of comparison represented by the first month of complete application of the quarantine and international oil prices, the recomposition of global prices substantially boosted the revenues generated by the sector. Another boost came from the increase in oil production, which with a year-on-year increase of 8.8%, had the first positive variation in thirteen months.
Exporters settled $22.87 bn in four months
Due to the soybean effect, exporters liquidated $22.87 bn in four months. According to data from the Central Bank (BCRA), in April alone, foreign currency income from foreign trade rose almost 71% compared to last year. The surplus balance for the first four-month period was $6.43 billion.
YPF Luz reached 175 MW in Los Teros wind farm
YPF Luz's Los Teros Wind Farm, located 45 kilometres from the town of Azul in Buenos Aires, added 52 megawatts and reached 175 megawatts of installed power, equivalent to the electricity needed to supply 215,000 homes. The wind farm has 45 wind turbines installed on a total surface of 3,610 hectares, can produce 838 GWh per year and required an investment of $235 million. This renewable, efficient and sustainable energy source will avoid the emission of more than 400,000 tons of carbon dioxide.
