LatinNews Daily - 27 July 2020

* The Argentine government has announced it will extend its programme of salary subsidies for companies in the private sector whose profits have been hit by the coronavirus (Covid-19) pandemic. In a virtual press briefing, federal production minister, Matías Kulfas, detailed that the work and production assistance programme (ATP), which has enabled payments of up to 50% of worker salaries since April, will be extended to a fourth phase that will run until December. The new phase includes some adjustments: the 50% rate will now apply only for companies in “critical sectors”, which include tourism, gastronomy, health, sport, and culture. Kulfas said that the ATP programme, which currently benefits 310,000 companies, will be “recalibrated” to continue supporting firms of up to 600 employees whose earnings contracted year-on-year in June. He also announced that other companies whose earnings have suffered will be eligible for subsidised credit lines to pay workers’ wages.

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