November 27, 2020
1. Senate debates reform to appoint the Attorney General
This Friday, the Senate will discuss the project to reform the organic law of the Public Prosecutor’s Office, which modifies the majorities required to appoint a new attorney general. It is important to point out that nowadays that position is being occupied by Eduardo Casal, appointed in an interim manner by the administration of Mauricio Macri, and that President Alberto Fernandez proposed Judge Daniel Rafecas to take his place. According to current regulations, two-thirds of those present at the time of the vote are needed to advance the appointment. However, the government seeks to make this provision more flexible and replace it with a simple majority vote.
2. President Alberto Fernández spoke at the G20 summit
On Saturday, President Alberto Fernández participated in the G20 summit, which was held virtually. In his speech, he insisted on the idea of a Global Solidarity Pact to face the crisis generated by the COVID-19 pandemic. Likewise, the President warned about the levels of inequality, which the pandemic and the restrictive measures increased and defended the social and health policies carried out by the Argentine government. Besides, Fernández mentioned the negotiations that his administration is carrying out with the International Monetary Fund (IMF) and asked to start regularizing the future. Finally, the President warned about the danger that the second wave of infections that is going through Europe reaches Latin America.
3. The “Wealth Tax” will be debated in the Senate next week
After its approval in the Chamber of Deputies, the bill of Solidarity and Extraordinary Contribution of the Great Fortunes received the green light without modifications by the Senate’s Budget and Finance Commission and will be discussed in the chamber the next week. It is worth mentioning that the so-called “Wealth Tax” establishes a unique contribution to those fortunes that exceed the bottom of AR $ 200 million. With this measure, the government expects to collect AR $ 300,000 million from around 12,000 taxpayers, which will be allocated to issues related to health and social development.
4. Government to launch the Economic and Social Council
After being postponed due to the COVID-19 pandemic, the government will launch the Economic and Social Council, which had been announced by President Alberto Fernández on March 1st, during the opening of Ordinary Sessions of Congress. This Council will bring together members of the government, unions, businessmen, social organizations, religious referents, and stakeholders of the scientific and educational community. In addition, it will aim to articulate long-term state policies such as debt, security, education, science and technology. In this sense, the Government seeks to achieve a broad agreement with representative actors in the midst of negotiations with the International Monetary Fund (IMF).
Ámbito Financiero: Gobierno acelera la creación del Consejo Económico y Social
5. INDEC reported economic activity during September and trade balance during October
According to the Argentine statistical agency (INDEC), economic activity registered a rise of 1.9% compared to August. Also, the survey carried out through the Monthly Estimator of Economic Activity (EMAE) of the entity, indicated that there was a negative variation of 6.9% year-on-year. In addition, the INDEC reported the trade balance during October, which showed a surplus of USD 612 million, but with a decrease in exports and imports.
Ámbito Financiero: La economía creció 1,9% mensual en septiembre (recortó su caída anual)