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Economic activity was devastated in Argentina during the fateful year of 2020. Official data records a 10% contraction, the largest decrease on the continent alongside Peru, if the Venezuelan catastrophe is not taken into account. In 2002, when Argentina collapsed, the fall was only slightly worse at 10.9%. Inflation is high (38.5% over the last 12 months and picking up), the peso continues to devalue, Central Bank reserves stand at less than $3 billion and four out of every 10 Argentines live below the poverty line. The macroeconomic outlook is alarming.
Argentina, though, is accustomed to bankruptcy and recovery. And to relative decline. Since 1921, when it was one of the richest countries in the world (GDP per capita at that time was on a par with France and Germany), Argentina has experienced average annual inflation of 105% and has been obliged to change its currency on five occasions: the
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UWI Vice Chancellor Professor Sir Hillary Beckles.
The University of the West Indies (UWI) is going to the bond market to raise US$60 million to finance the establishment of an offshore medical university in Trinidad and Tobago this year, as part of a range of measures to place the institution on a sound financial footing over the next five years.
The regional institution plans to transform itself into a global university providing education to 100,000 students all over the world online, UWI Vice Chancellor Professor Sir Hillary Beckles disclosed on Monday.
Speaking at a virtual press conference Sir Hillary outlined a 10-point strategic plan for the financing and future operations of the institution, inclusive of increasing earnings and slashing debt.
Image courtesy of Braskem
Braskem’s industrial unit in the Triunfo Petrochemical Complex (RS), where the company produces thermoplastic resins from sugarcane ethanol. The unit producing green ethylene will see an increase in capacity of 260 kton/year
Braskem is expanding its production capacity of green ethylene, the main feedstock derived from sugarcane ethanol, used in the production of renewable resins.
These materials can therefore claim to capture CO2, a greenhouse gas. This raw material is produced at the company’s plant in Triunfo, Rio Grande do Sul, whose capacity will be increased from the current 200 kton/year to 260 kton/year. The expansion project, budgeted at $61 million, will be rolled out in 2021, and should be concluded in the fourth quarter of 2022.