Pledge loans fell 17% in October

The total portfolio of pledge loans fell 17% in October compared to the same month of 2018, with an amount of AR$82.8 billion ($1.4 billion), essentially affected by high interest rates and the exchange rate, according to a report prepared by First Capital Group.

Companies expect 20% to 50% devaluation in 2020

Supermarkets and mass consumption companies with a high level of import project an average dollar during 2020 at 75 pesos which means a devaluation close to 20%. The bulk of the companies start from an average dollar value of 80 pesos and there are scenarios of some 50% devaluation in some other companies.

October inflation was 3.3% and accumulated 50.5% in one year

October inflation slowed to 3.3% according to the latest report from the National Institute of Statistics and Census (Indec). With this data, the accumulated of 2019 reached 42.2% and in the last twelve months 50.5%. The decline in inflation in October was driven, to a large extent, by lower increases in the food sector: they rose 2.5% compared to 5.7% in September.

Oil companies get ARG$24.5 billion in compensation for devaluation

The National Gas Regulatory Entity (Enargas) approved on Thursday the compensation for the oil companies for the differences between the price paid by the distributors and the value of the natural gas included in the tariff schedules in force between April 1, 2018 and March 31 this year. The original debt amounted to 19.5 billion pesos, but they will end up transferring 24.5 billion since the amount was updated by the passive rate of the National Bank.