Category: Argentina

Argentina: The Week at a Glance

Editorial: Local Debt Restructuring Underway, Foreign Debt Still Gridlocked

Last Friday the executive submitted the bill to restructure the dollar debt under local law. This is a step in the right direction because it also fulfills the promise of matching the conditions of the proposal made to investors with foreign law bonds.Read the rest

Argentina: The Week at a Glance

Editorial: The Financial Health of the Provinces

Argentina’s provinces finished 2019 with a primary fiscal surplus for the second year in a row. But, despite this improvement in fiscal behavior, three provinces have already defaulted this year and the fate of the rest seems to be contingent on the success of the national debt restructuring.… Read the rest

Argentina Economy: The Week at a Glance

Editorial: Is the Fourth Time the Charm?

Argentina submitted its fourth sovereign debt restructuring proposal under foreign law. This time it smells like a goal, but the ball still has to hit the net.Read the rest

Argentina Economy: The Week at a Glance

Editorial: Emission, the Great Danger for the Second Semester

Argentina is heading towards a primary deficit which, being conservative, will reach 5.5% of GDP but could be higher, depending on factors such as assistance to the private sector through relief programs for the pandemic effect.… Read the rest

Argentina Economy: The Week at a Glance

Editorial: Unnecessary Noise

The announcement that Vicentín was being expropriated made a lot of unnecessary noise in the economy. This could complicate both the short-term and medium-term outlook, the former because it could affect the debt restructuring and the latter due to the post-pandemic situation.… Read the rest

Argentina: The Week at a Glance

The Spread Hops Back on Stage

By the end of last week, the dollar exchange rate in its MEP and Blue Chip Swap versions surpassed the 120-peso barrier again and closed with a spread over 70% against the official rate.Read the rest

Argentina: Econviews Monthly Report

Recent Developments

  • COVID-19: 85% of the country has normalized activities with social distancing recommendations (with the exception of tourism, massive events and inter-jurisdictional transport, which are not allowed). In the case of the Metropolitan Area, the pace of contagion is accelerating, and strict controls subsist, but some new activities have been allowed.
Read the rest

ARGENTINA: The Week at a Glance

Good Closure for the Debt: Now Comes the IMF

Argentina successfully closed a very important chapter in its prolific economic history. It is solving its ninth default, practically with no skeletons in the closet after achieving a 93% acceptance rate, which means over 99% of the bonds will be restructured once the collective action clauses are triggered.… Read the rest

ARGENTINA: The Week at a Glance

With a Little Help from My Friends

The economic scenario is challenging for Argentina. International reserves are scarce, there is an excess of pesos, and an activity level that will fall by 11.6% according to our estimates and 12% if we consider the median of the forecasts in the Central Bank’s monthly survey.… Read the rest

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