The number of registered jobs in the private sector fell 2.6% year-on-year in October, as in last September, in Argentina urban centers, according to the Survey of Labor Indicators (EIL) released by the Ministry of Production and Work.
The Central Bank of Argentina (BCRA) transferred ARG $ 20 billion ($334 million) to the Treasury for temporary advances based on a need and urgency decree authorising this type of operations up to a total of ARG $ 400 billion ($6.7 billion). "The amount is consistent with the seasonal increase in the demand for money that begins to be observed at this time of year," says a statement from the BCRA.
Economic activity fell 2.1% in September compared to the same month of 2018, while the accumulated of the first nine months of 2019 showed a 2.3% drop, the National Institute of Statistics and Census (INDEC) reported.
President-elect Alberto Fernández said he will not ask for the remaining $11 billion from the $56.3 billion stand-by loan granted by the IMF in 2018. He said that he will "sign a single agreement" with the IMF "and the first rule is to stop asking for money.
Amid trade tensions with the US, China's October soybean imports from Argentina increased nearly 29-fold to 959,936 metric tonnes (mt) from 33,200 mt last year, according to the latest Chinese General Administration of Customs report.
Beef exports totaled 96,000 tons during October, which marked a new historical record by exceeding September records, Rosgan Mercado Ganadero S.A. reported today. Shipments to China accounted for more than 80% of total shipments.
The International Monetary Fund has named as head of its mission in Argentina, Luis Cubeddu, 53, replacing Italian born Roberto Cardarelli. The Venezuela born economist is known in Argentina since he was in Buenos Aires between 2002/04, during a similar financial pre-default situation, as a member of the IMF representation.
Argentina will finish 2019 at 55% annual inflation, 2% above the forecast in September budget, the country’s treasury minister said, capping off a tumultuous year for Latin America’s No. 3 economy.
Industrial SME production fell 2.8% in October, compared to the same month of 2018; and in the year it accumulates an average loss of 7%, when compared with the production carried out between January and October of last year, according to a report released by the Argentine Confederation of Medium Enterprises (CAME).
The Ministry of Energy postponed for one month the increase in gas rates that was scheduled for next January and it was originally due to occur in October.