Concerned about reserves, the Government of Argentina reissues the soybean dollar
Soybean
Argentina
Published Nov 26, 2022
Tridge summary
With the aim of reinforcing the Central Bank's reserves, the Minister of Economy, Sergio Massa, decided a new edition of the soybean dollar that will begin next Monday. The program also has three goals aimed at greater collection. The exchange rate with which this program will be launched is 230 pesos.
Original content
In this case, the currency will have an inflation update and it will be implemented from next Monday until December 31 of this year. The government agreement with the cereal companies has a guaranteed and signed floor of 3,000 million dollars, of an estimated total of around 10,000 million dollars that would be capable of being liquidated, according to what NA was able to find out. In addition, it includes promotional financing for regional economies, subsidies to the poultry, bovine, dairy and pork value chains to increase production and a fund to maintain the value of family allowances. The scheme also provides for a prize for the industrialization of soybeans to increase the incidence of oils and flours in the exports of the agro-industrial complex. The objective of the economic portfolio is to break the export record of the historical agro-industrial complex, in order to put it on the table in the debate on the global food security agenda that is discussed in the G-20. From a ...
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