Argentina's government created a registry of beef exporters among other measures to curb under-invoicing, which authorities fear has been going on for a while now. The announcement was made by the Office of the Cabinet Chief (Santiago Cafiero). The goal is to improve the monitoring of beef exports and the supply to the domestic market, the government said in a statement.
In the second month of the year, import operations for $400 million authorized with commercial credit. According to official data, this measure allowed the Central Bank to have a cash balance of almost $2.5 billion in the first two months of the year.
Agricultural machinery sales recorded, in 2020, a turnover of 100.8 billion pesos ($1.10 bn), which represents an 80% increase compared to 2019. Argentine firms were benefited by the closure of the import of many implements or by the difficulties global companies encountered to make payments abroad during 2020 due to exchange restrictions.
One hundred ninety-three cities in our country established zero-carbon goals for the year 2050 out of a total of 800 worldwide. The data is from the new Renewables in Cities Global Status Report prepared by the influential international political network REN21. According to the technical report, they represent almost 25% of the cities that have set zero carbon goals globally.
The heavy tax burden on the different links of the economy is a recurring theme in the local economic agenda; in the case of wine, 43% of consumers' price corresponds to taxes.
The government announced that the Progresar scholarships will have an investment of 27 billion pesos ($297.71 mn) in 2021 and will seek to benefit 750,000 students at all levels of education. The scholarships for young people to finish their studies will increase in their amounts ranging from 40 to more than 163%, while two instalments will be added, thus reaching 12 payments in the year.
Edenor reported yesterday that it recorded losses of 17.69 billion pesos ($198.08 mn) in 2020. It argued that the lack of adjustment in electricity price caused its revenues to fall by 25% in real terms. The Ente Regulador de Electricidad prevents the two distributors in the metropolitan area (Edenor and Edesur) from cutting off electricity service to users with accumulated debts during the pandemic.
The board of directors of the oil company YPF yesterday appointed Pablo González, a lawyer from Santa Cruz who has held various positions in the civil service, replacing Guillermo Nielsen.
The government of Catamarca presented a project to regulate fintechs and cryptocurrencies, and proposed the creation of a Digital Currency of Argentina or of the Provinces of the Norte Grande, backed by the mining production of lithium, gold and silver. According to the government of this province, these assets have a good international valuation and good medium-term prospects.
Congress passed almost unanimously a new law making parliamentary approval mandatory before signing any debt agreements, including with the International Monetary Fund (IMF), with whom the government is currently renegotiating the payment of major loan.