Loma Negra sells its Paraguay business unit, Iguazú Cementos, which represents 10% of total Loma Negra´s revenues and was the less harmed by the pandemic.
Ternium Argentina showed a negative semi-annual net result, due to decreases in volumes sold and negative results of investments in associated companies. However, it managed to finish the second quarter with a balanced result despite the significant drop in activity caused by the COVID-19 pandemic.
Yesterday, addressing the Lower Chamber, criticized the way in which previous debt restructuring processes took place, saying the Government has an integral macroeconomic program. Out of which all measures that have been taken since the new administration took office emanate.
Aluar disclosed lower than expected results, led by negative financial results, a low aluminum price and depressed local demand.
Inflation reached 3.7% in December, while for 2019 it was 53.8%.
After the Buenos Aires Province’s consent solicitation statement to delay the partial principal payment of the Buenos Aires 10,875% 2021 bond (NY Law) (ISIN No. XS0584497175 y XS0584493349) at the end of this month, Axel Kicillof, the province governor, said in a press confernce that the coupon will be país on the scheduled date, January 26th, (a total amount of USD 27 million), while the partial principal payment would be delayed to May 1st, if the consent solicitation reaches the required majorities of bondholders.
MSCI announced today that it will continue consulting with market participants on the replicability and classification of the MSCI Argentina Indexes. The aim of the consultation is to assess the overall impact of capital controls on the investment process, as well as specific index replicability issues, particularly related to dividend distribution. Prolonged application of capital controls by the Argentine authorities could ultimately lead to the removal of the MSCI Argentina Indexes from the MSCI Emerging Markets Indexes.
Martin Guzman disclosed tax hikes on farm exports and FX purchases
Arcor will issue bonds for up to AR$ 2 billion, to roll over bank loans.
An integral macroeconomic plan will be established to preclude further economic downfalls, fight inflation, revert fiscal imbalances and solve the situation of virtual default the previous administration has left. He will pursue fiscal and trade surpluses for the establishment of a sustainable project with social inclusion.