Central Bank enables exporting companies to issue debt in dollars

The Argentine central bank authorised exporting companies to operate in the foreign exchange market for the cancellation abroad of principal and interest services of debt securities issues registered abroad. Communication "A" 7218 allows the issuance of foreign currency debt in the international market to be subscribed by investors from other countries and to bring the dollars into the country.

Government extends border closures until end of February

Argentina’s government has extended the closure of its borders, extending a decree that prohibits non-resident foreigners from entering the country until the end of this month without special dispensation. The decree prohibits entry through ports, airports and land border crossings, extending existing measures put in place to tackle the spread of COVID-19 in Argentina.

Argentina Restricts Flights to and from Mexico, Brazil, Europe and the US

Argentina has formalised restrictions and the reduction of the frequency of flights to and from the United States, Europe, Mexico and Brazil due to a resurgence of coronavirus cases in the country. This reduction of between 30% and 50% from these countries has the objective of “reducing the possibilities of entry of new strains into the country, allowing an exact control and monitoring of the number of passengers per day,” explained the Minister of Transport, Mario Meoni.

Argentina works to ensure domestic wheat supply

Argentina is looking for ways to ensure ample domestic wheat supplies without resorting to shutting down exports, a top official said, as farmers fretted about possible state intervention in the markets. The government, worried about food price inflation, recently tried to limit corn exports, but the idea was beaten back by growers. Now the focus is on wheat, with rumors swirling around the Pampas grains belt that export limits might be on the way.

Proposed world’s first wind tax could cost a 100 MW farm $20 mn

A one-of-its-kind plan to tax the wind in Argentina has drawn scorn from clean-energy companies. Puerto Madryn, a city on the Atlantic coast where gusts are coveted by wind developers like Genneia SA, wants to tax the megawatts of energy sold by wind farms, according to the proposal. The tax could cost a 100-megawatt farm US$20 million, creating problems for existing projects whose investors won’t have factored in that kind of hit from left field, and halting the construction of new ones.

Agribusiness has already lost more than $145 mn due to the transport strike

The transport workers have maintained intermittent roadblocks since Saturday in the central part of the country and could toughen the measure of force while continuing to wait for a call from the government. The agribusiness sector was one of the hardest hit. In the first four days of this week, around 10,000 trucks stopped entering the port, representing an average load of 300,000 tonnes with an approximate value of $145 million. The figures must add $30,000 for each day's delay in loading a ship.

70% of the value of an imported luxury car is tax

According to its characteristics and range, an imported vehicle is today subject to a tax pressure ranging from 96% to 209% on the value arriving at the port. On average, the tax burden ratio to the value of the vehicle is approximately 70% of the final value of the 0km and places it among the most expensive in the world. For national cars, the impact of the tax burden is around 54%.