LatinNews Regional Monitor: Brazil & Southern Cone - 21 April 2020

* Argentina has registered a primary fiscal deficit for March of Ar$124bn (US$1.89bn), according to the country’s economy ministry. This marks an Ar$111.7bn increase on the same month in 2019. Year-on-year primary expenditure jumped 70% to Ar$466bn, which the ministry attributed primarily to measures taken to deal with the onset of coronavirus (Covid-19). The figures were announced the day after Argentina’s long-awaited debt restructuring offer was rejected by foreign bondholders, on the basis that the government had failed to provide a roadmap to reducing the deficit and returning to financial stability.

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