Less than seven months after its launch, the bank wallet has already chosen by two million people joining the trend of leaving cash behind. In addition, more businesses are entering, and more functions and benefits added to the app on the way to transforming the daily use of money.
The production of SME industries grew 11.1 per cent in May compared to April 2021, with the highest monthly variation rates in Non-metallic minerals (43.4%) and Footwear and leather goods (52.1%).
The government disbursed 2020 more than 100 billion pesos ($1.05 bn) in assistance and financing to SMEs. They represent 26 times more than the 3.8 billion pesos ($39.77 mn) earmarked for the sector in 2018 and far exceeds the 3.5 billion pesos ($36.63 mn) executed in 2019 i.e., it is an increase of 2,757%.
The Argentine firm Kheiron choose by the Bill and Melinda Gates Foundation to develop bovine clones to help improve dairy production in Africa. Recombinetics' Acceligen was awarded a $3.7 million grant from the Gates Foundation to create gene-edited cattle high milk producers and withstand Africa's heat stress. Acceligen chose Kheiron as a partner for this project and started with the Holstein breed in the United States.
The board of directors of the International Monetary Fund (IMF) moved forward on Friday with the approval to increase its reserves by more than $650 billion through the extension of the concept of additional issuance of Special Drawing Rights (SDRs), for which Argentina could receive $4.35 billion in the last quarter of the year.
The government is targeting construction to reactivate the economy. More than 110 thousand housing units will enter the execution stage in 2021. The estimated investment until 2023 is 890 billion pesos ($9.31 bn).
Based on "the prolonged severity of capital controls", the US company MSCI, which prepares stock market indexes that guide the bets of significant investment funds, will reclassify Argentina to the category of Independent Markets, from Emerging Markets, one step below Frontier Markets, the status to which the country was expected to fall, according to what investors were expecting. The country's reclassification will take place in November, after three years in the Emerging category.
The unemployment rate was 10.2% during the first quarter of 2021, as reported this Thursday by INDEC. Thus, it contracted 0.2 percentage points compared to the same 2020 and 0.8 percentage points compared to the previous quarter. A lower number of unemployed and an increase in the activity rate (which went from 45% to 46.3%) explains it, covering approximately 29 million people.
Vercel, a firm in charge of facilitating the work of web designers through platforms that seek agility and aesthetics, raised $102 million, an investment in which prominent market players such as Bedrock Capital and Accel participated and reached a market value of $1.1 billion.
In the first five months of the year, local soybean industrialization showed an increase of 17.6% year-on-year, thanks to the high prices of soybean by-products (meal, oil and pellets) in the international market. In May, crushing registered just over 4.29 million tons. In this context, the oil industry reduced its idle capacity and grew in value-added shipments abroad.