An ugly recession on the way

The good news is that Argentina is experiencing an improvement in financial indicators, but unfortunately this time it is accompanied by deterioration in economic activity.

The incipient financial stability that was achieved in March was consolidated in April, as the spread between the parallel and the official exchange rates dropped to around 30%, interest rates remained relatively stable with a downward trend and international reserves increased for the first time in over 24 months by 1.3 billion dollars to 28.2 billion dollars more recently. Besides, the outlook for reserves for the next few months is favorable, as the bulk of soybean exports will take place in the next few months.