Argentina Economic Outlook
February 18, 2020The economy likely remained in the doldrums in the final quarter of 2019, after contracting in year-on-year terms in the third quarter. Economic activity continued to shrivel in October-November, while consumer confidence was stuck in pessimistic terrain and export growth cooled in the fourth quarter. On a somewhat more positive note, industrial production expanded for the first time in 20 months in December. Meanwhile, in early February, the Senate ratified the lower house’s decision to grant the government the power to restructure around USD 100 billion of the country’s foreign-denominated sovereign debt. Of this, around USD 44 billion is owed to the IMF, with whom the government held talks last week. This was a first step in the negotiation process with creditors, whose agreement is aimed for by 31 March.
Argentina Economic GrowthThe economy will remain mired in recession this year, although the pace of contraction is expected to ease. Downbeat investor confidence, runaway inflation and sky-high interest rates will weigh on domestic demand, while the new levies will hit export growth. Debt renegotiations and interventionist policies further cloud the outlook. LatinFocus Consensus sees the economy contracting 1.5% in 2020, which is unchanged from last month’s estimate, before rebounding 1.7% in 2021.
Argentina Economy Data
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|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||59.88||0.45 %||Dec 30|
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Argentina Economic News
March 16, 2020
The Universidad Torcuato di Tella (UTDT) consumer confidence index edged down to 42.7 in February from 43.0 in January.
March 13, 2020
Consumer prices rose 2.0% over the previous month in February, coming in below January’s 2.3% rise and marking the softest increase since January 2018, according to the National Statistical Institute (INDEC).
March 5, 2020
Industrial production dipped 0.1% year-on-year in January, according to data released by the National Statistical Institute (INDEC) on 5 March.
March 5, 2020
bet360备用网址On 5 March, in a further bid to prompt an economic recovery and amid some moderation in inflationary pressures, the Central Bank of Argentina (BCRA) decided to reduce the lower floor for the LELIQ rate to 38.0%.
February 21, 2020
The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) dipped 0.3% year-on-year in December, after logging a 2.0% contraction in November.