Category: Macroeconomy/Finance

Information regarding Argentina’s productive sector and the country’s macroeconomy.

Fernández’s emergency decree doubles redundancy compensation

President Alberto Fernández, has decreed a double redundancy compensation to workers for a period of 180 days in case of “dismissals without just cause”, as means to “stop the worsening of the labor crisis “. In the case of dismissals without just cause ”the affected workers will have the right to receive double the corresponding compensation in accordance with current legislation,“ says the decree.

Martín Guzmán: “No confrontation with creditors” to solve “virtual default”

In his first public appearance as new Economy Minister, Martín Guzmán outlined the broad themes of the policy proposals that he hopes will take Argentina out of a “virtual default”. Guzmán disclosed that there are already ongoing negotiations with the International Monetary Fund (IMF) for a new programme amid a recession. Guzmán also anticipated that “the year 2020 is not a year in which fiscal adjustment can be made” and that”a larger fiscal contraction would deepen the recession and aggravate the problem”.

Chinese Consortium Close to Buying Argentine Power Unit

A consortium led by China Huadian Corp. is close to acquiring a controlling stake in Argentine power generator Stoneway Group LP, according to people familiar with the matter. State-owned Huadian and its partners will acquire about 80% of Stoneway in a deal expected next week. The group will make the acquisition in three tranches through a unit called China Huadian Engineering.