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Argentina's Economy Snaps Growth Streak, Contracting in February


Argentina’s Economy Snaps Growth Streak, Contracting in February
Bloomberg
2 hrs ago
(Bloomberg)
Argentina’s economy shrank in February from January, snapping a nine-month growth streak following a historic plunge triggered by the pandemic.
Economic activity fell 1% on a monthly basis in February, the first contraction since last April, according to government data published Thursday. From a year ago, the economy contracted 2.6%, more than the 2.3% decline economists had projected.
© Bloomberg
Argentina s economy snapped a growth streak, contracting in February
The country’s already fragile recovery is facing headwinds as a new wave of the pandemic surges nationwide, with new Covid-19 cases shattering previous records. Argentina recently surpassed more than 60,000 deaths from the virus as total cases near 2.8 million. President Alberto Fernandez’s government implemented new restrictions to circulation in April, forcing most citizen ....

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Argentina's Economy Recovery Slows To a Crawl in December


Argentina’s Economy Recovery Slows To a Crawl in December
Bloomberg
2/24/2021
Patrick Gillespie
(Bloomberg) Argentina’s economic recovery sputtered out in December, tallying its worst month since the start of the pandemic.
Economic growth month-over-month slowed to a crawl of 0.9% growth, down from 1.4% in November. After a short-lived bounce-back from the pandemic in May, the country still tallied an annual descent of 2.2% from December 2019, according to government data published Wednesday.
The decline has been driven largely by hotels and restaurants, which recorded a dramatic 47% drop on an annual basis by far the hardest hit sector. The slide was further pushed by transportation and social activities, with both sectors registering double-digit drops year-over-year. ....

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Argentina Seeking $5 Billion From Multilateral Banks for 2021


Argentina Seeking $5 Billion From Multilateral Banks for 2021
Bloomberg
12/18/2020
Jorgelina do Rosario and Eric Martin
(Bloomberg) Shunned in global financial markets, Argentina is seeking about $5 billion for next year from multilateral organizations other than the International Monetary Fund as it negotiates a larger refinancing program with the Washington-based lender, according to three people familiar with the plans.
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Alberto Fernandez’s administration is looking to institutions including the Inter-American Development Bank and the World Bank, said the people, who asked not to be named because discussions are private. Plans are in the early stages, and the borrowing needed is an approximation that could wind up being more or less depending on variables like government revenue and exports, the people said. ....

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