Economic pressures mount for businesses in Argentina and Colombia

In Argentina, business entities have reported a surge in rapid tax seizures and express embargoes by the tax agency ARCA. Mauro González, head of the Confederación Federal Pyme, warned that the current levels of commercial bankruptcy and legal filings are comparable to the 2001 economic crisis. Business leaders claim that ARCA is implementing these measures without prior notification, often triggered by minor defaults or interest issues. While SMEs have requested a 180-day suspension of legal and banking hurdles, officials from the Ministry of Economy and ARCA have reportedly deflected responsibility for the situation.

In Colombia, Agriculture Minister Indalecio Dangond has ordered a forensic review of parafiscal resources within the rice sector. This investigation follows complaints from producers regarding high production costs and low market prices despite significant fund collection. The review aims to examine approximately $500,000 million in resources, including funds from US rice import auctions and sector quotas, to determine how these assets have been utilized and whether they have provided actual benefits to producers.