The Government and Banco Nación launched a new line of financing for SMEs in the cultural sector, for a total amount of 750 million pesos ($10.02 mn), with a subsidized rate and a year’s grace. The loans will have a term of up to 24 months, with a […]
Banco Santander announced that it would double its investment in “fintech” to $400 million with the launch of a new venture capital fund Mouro Capital that replaces Santander Innoventures, with financing rounds of up to $15 million. Source: Ámbito
Argentina has once again been among the worst places in the world to attract investment: between 2019 and 2020 it was one of the countries that dropped most in the Global Attraction Index (GAI) that The European House Ambrosetti carries out every year. According to the GAI, from […]
The Argentine banking sector accumulated a profit of 117.12 billion ($ 1.57 bn) in the first six months of 2020, a result 11% lower than that obtained during the same period in 2019, to which must add the impact of inflation.
Installed capacity utilization during July was 56.8%, a lower level than in the same month in 2019 when it was 58.7%. The figures show that it is slowly recovering after the drop caused by the outbreak of the pandemic. The information provided yesterday by INDEC reveals the monthly evolution of the figures: June (53.3%), May (46.4%), April (42%) and March (51.6%). They have not yet reached the levels of February (59.5%).
JP Morgan Bank rebalanced its Emerging Market Bond Indicator (EMBI) concerning Argentina, following the exit of the sovereign instruments issued after the debt swap. As of this change, the Argentinean country risk placed at 1,104 units, which meant a 47.9% fall concerning the previous day’s closing.
The Argentine biotechnology company Bioceres, which listed on the New York Stock Exchange, announced its financial results, reporting a 46% increase in sales of agricultural inputs during the second quarter of the year. At the same time, it reported a 17% increase in income during the last fiscal year, reaching $174.2 million.
The software or knowledge economy companies are still waiting for the Senate to treat the project that has been approved by the House of Representatives since June and that would benefit a sector that has the potential to sell some $6 billion a year abroad. The main risks are the loss of 11,200 jobs and the loss of 33.4 billion pesos ($446 mn) in revenue in 2020.
Government creates a fund of $468.54 mn to assist the Province of Buenos Aires in salary increase to the police
President Alberto Fernandez, Governor Axel Kicillof, Vice Governor Veronica Magario and numerous mayors of the conurbation silently supported the presidential decision to take away a point of national co-participation from the City of Buenos Aires to address local needs. It is a figure in the order of 35 billion pesos a year ($468.54 mn) according to the specialists’ calculations.
The call to restructure debt under local legislation achieved acceptance of 98.8%, leaving some $460 million of titles without entering the same. The $460 million added to $653 million left out of the debt swap for securities issued under international legislation, and correspond to holders of Par bonds issued in the 2010 exchange and which are mostly held by small European bondholders. Adding both amounts, we arrive at the $1.11 billion that the government must seek if it wants to complete 100% of the debt, and get rid of any eventual legal problems both inside and outside the country.