Argentina, one of the world’s largest food exporters, may try to intervene with the agricultural export company Vicentin, which is in crisis and has huge debts to the government. The information was revealed this Sunday by Argentine President Alberto Fernández in an interview with a local newspaper.
Worried about high inflation, Fernández’s centre-left government sought to take control of the now-bankrupt company in 2020 and participate in local food pricing, resulting in strong rejection of the agricultural sector.
Prior to the crisis, Vicentin was one of the main agricultural export companies in Argentina.
“There’s a new scenario in Vicentin that we don’t have in 2020, and then there is the possibility of intervention that I overlooked,” Fernández said in an interview with the newspaper Página 12.
Banco Nación, controlled by the Argentine state, is one of the company’s main creditors. According to local media, Vicentin’s debt to the financial institution will amount to $300 million.
“We have to do something about food that allows us to somehow intervene and put things in order,” Fernández said. Said. According to analyst forecasts, Argentina is currently suffering from inflation, which could exceed 70% this year.
source: Noticias
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