Four large corporations change their CEOs in Argentina

Four of the most important companies in Argentina announced that executives who are the number one of their structures leave their positions: Gabriel Martino (HSBC Argentina), Federico Rava (Telefónica Movistar), Carlos Moltini (Telecom), and Enrique Cristofani (Santander). In the press releases and informal talks, they ensure that the movements are not related to the arrival of Alberto Fernández to power.

ECLAC forecasts a 1.3% decline in Argentine economy for 2020

The country’s GDP will record a 3% retraction in 2019, only surpassed by Venezuela, which will face a collapse of 25.5%, and Nicaragua, which will have a decrease of just over 5%, according to the latest projection of the Economic Commission for Latin America and the Caribbean (ECLAC). Together with the Bahamas, they will form the group of countries in recession on the continent next year.

Argentina’s new president will face a country in crisis

On December 10, Alberto Fernández takes the helm of a country facing its worst stock market rout in decades, 55% inflation, a deep economic recession, rising poverty and a plunging currency. Argentina is staring down the barrel of $100 billion in foreign debt, including a record $57 billion loan from the IMF. The country is now running out of money.

Argentina, the largest administrative bureaucracy since 1983 and in the region today

“Mauricio Macri’s cabinet is one of the largest in Latin America, and also since the return of democracy in Argentina since 1983,” according to a study by the Center for the Implementation of Public Policies for Equity and Growth (Cippec) . The conclusion is part of the study entitled “State GPS-Radiography and balance of the National Public Administration 2015–2019. The vicious circle between fiscal deterioration and the poor development of state capacities”.

Fernández vs Bolsonaro: Argentina-Brazil Trade Now At Risk

Everyone expects changes in political and economic relations between Brazil and Argentina once Alberto Fernández takes power in December. Foreign affairs analyst Marcelo Elizondo believes that Bolsonaro’s threat to lower common external tariff, which would cost Argentina its position as a privileged trading partner, is part of Brazilian conservative president’s program to open the Brazilian market, with the EU free-trade deal being “merely a step toward positioning itself as a continental leader.” That would represent an enormous competitive disadvantage for Argentina as it loses its exclusive, preferential tariff regime with Brazil.

Greenwich Economic Forum shows confidence in Argentina

None of the leaders in global finance gathering this week at the Greenwich Economic Forum in Connecticut showed disrespect for Argentina despite being on the brink of another default. “I love Argentina, actually,” says Timothy Barrett, CIO of the Texas Tech University System endowment, while Rebecca Braeu, head of international research and strategies for Nationwide Investments states “I’d hold Argentina for now”.

BBVA Argentina’s net income increased 264,6% in a year

Banco BBVA Argentina S.A net income totaled $11.1 billion in 3Q19 according to the last consolidated results for the third quarter (3Q19), ended on September 30th 2019. This result was 63.8% higher than the $6.8 billion posted on the second quarter 2019 (2Q19) and 264.6% higher than the $3.0 billion posted on the third quarter 2018 (3Q18).