The lack of dollars in Argentina generates another problem for importers. Banana producers from Bolivia and Paraguay announced the suspension of shipments to Argentina until they regularize their debts amounting to US$10 million with Paraguayan producers and US$12 million with Bolivian producers.
The debt of US$10 million is concentrated in three regions of Paraguay: Caaguazú, San Pedro and Cordillera. The US$12 million owed to Bolivia correspond to productions from the Cochabamba region. The decision to suspend sales to Argentina goes beyond commercial, affecting 2,500 families and paralyzing the value chain. This was confirmed by the Paraguayan Banana and Pineapple Chamber.
The banana supply problem in Argentina prompted Paraguay to take drastic measures. Argentina’s accumulated debt with Paraguayan banana producers has reached “10 million dollars.”
In protest, Paraguayan producers They demonstrated in front of the Argentine embassy in Asunción, giving away part of their production. The situation is replicated in Bolivia, where the lack of payments since August generated a crisis in companies and affected 22,000 families. Both countries stop sales until the conflict is resolved and dollars are released.
The Paraguayan Banana and Pineapple Export Chamber seeks to resolve the impasse, but restricted access to dollars and delays in payments make a quick solution difficult. The pressure also comes from local importers who require dollars and sectors that criticize the delay in accessing dollars after the SIRAs are approved.
Imports: more than 90% of the commercial debt is with parent companies
According to private estimates, the commercial debt for imports will exceed US$50 billion this year, a situation that leaves a heavy burden to attend to from the start of the next government. However, although there is a certain urgency to resolve this front in order to maintain the import flow and prevent the economy from stopping, more than 90% of it would be manageable because it is between local companies and their headquarters abroad.
The data was provided Martin Polo, chief strategist of Cohen Argentina. “The biggest losers are the parent companies themselves, which cannot charge their subsidiaries.“Polo said in a talk with investors. “This increase in commercial debt is putting pressure on the transition,” he said.
According to estimates from the brokerage company, until June the unpaid debt for imports corresponding to this year amounted to US$9,957 million, but of them, US$7,549 million was with parent companies. Polo maintains that Being a debt between related companies “that gives a little oxygen” to solve the problem.
“The favorable part, so to speak, is that this increase could give a little more time, since with suppliers it is another type of relationship, so the clock starts running faster,” Polo said.
Source: Ambito
