Monetary assistance reached 8.2% of GDP in 2020

According to government estimates, the measures implemented to contain the adverse effects of covid-19 were equivalent to 4.9% of GDP. It forced the national administration to seek financing and, although it bet on public debt placements in the local market, a large part came from the Central Bank's monetary assistance: the entity turned over 8.2% of the GDP to the Treasury.

The Argentine startup Satellogic will launch satellites with the company Space X

Satellogic, a young Argentine technology-oriented aerospace business, closed a deal with Elon Musk's Space X to put four nanosatellites into orbit on a Falcon 9 starting in June. The aim is to build a constellation of 300 satellites, all of them manufactured by the company. The company was created in 2010 and has already received $120 million investments and is shaping up to be a unicorn. To date, it has launched 21 low-cost nanosatellites and plans to triple that number by 2023.

The industry grew 6% in December

According to the advanced index prepared by the Centre for Production Studies, which considers the energy consumption provided by CAMMESA, the year-on-year expansion of activity was 6.1%. The improvement was driven by the most influential sectors: the steel, metal-mechanic and automotive industries.

Santander partners with Mercado Libre to finance car sales

Santander Argentina and Mercado Libre closed an agreement that makes available to users of the e-commerce platform a line of collateral financing for vehicles' online purchase by a single click. The funding has a limit of up to 3.1 million pesos, significantly reducing granting and leaving the paperwork only for the last stage of the operation. The new service has more than 22,000 publications, 75% of which are new vehicles and 25% used.

During 2020, national public debt increased by more than $13 bn

Although the swap agreed with the creditors, during 2020 in pesos and foreign currency, the national public debt grew by $13.02 million. According to the Ministry of Finance, it rose from $323.06 in 2019 to $336.09 billion in 2020. This level of public debt does not include the obligations of the provinces or the Central Bank. And it is estimated to be around 100% of GDP versus 89.5% in 2019.