LatinNews Daily - 04 January 2021

In brief: Warnings of a weaker economic recovery in Argentina

*Argentina’s central bank (BCRA) has warned of the risk that the expected economic recovery this year could be weaker than anticipated. BCRA projects that Argentina’s GDP will rise by 4.8% this year after falling by an estimated 9%-11% in 2020 which extends the recession that Argentina has been suffering since 2018. But in its 2020 fourth quarter report, BCRA said that its growth projection is “dependent on various factors including the evaluation of the [coronavirus] pandemic (rate of progressive reopening of activities, access to vaccines, impact on private consumption) and the effectiveness of the measures implemented to mitigate its impact such as the state assistance offered to families and firms”. The report notes that if these factors do not evolve as anticipated, then domestic economy activity will recover at a slower pace.

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