Juan Manuel Manías
•M.A. in International Economics Relations (UBA, Argentina)
•B.A. in Economics (UBA, Argentina, Magna Cum Laude Honours)
•Previous work experience includes Banco Francés Financial Area since 2000.
•Joined Economic Research Department in 2009
The COVID-19 pandemic hit Argentina's economy hard, which is in its third consecutive year of recession. With the second wave of contagion in sight, the government is negotiating a new program with the IMF that could be crucial for the country's sustainable growth.
January 15, 2021
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Jan 15th
The COVID-19 impact on consumption was much more intense during the first wave than in the rest of the year 2020. By sector of activity, the impact of Covid-19 has been heterogeneus too. Food and health was the most beneffited ones and tourism related sectors the most damaged.
BBVA´s credit and debit cards consumption fell 7.2% (in real terms) in 2020, compared to 2019. Services transactions were more affected than goods. Consumers appear to show changes in certain shopping habits due to isolation.