Coronavirus Outbreak

Companies Flee Argentina, and Coronavirus Is Just One Reason (2)

July 31, 2020, 3:48 PM

Argentina faces a mounting exodus of multinationals that have concluded that doing business in Latin America’s third-largest economy is just too complicated and unprofitable, even disregarding the coronavirus pandemic.

Powerful labor unions, volatile politics, price and currency controls, and other forms of state interventionism have long been features of doing business in the crisis-prone South American country. Now, faced with a third straight year of recession and a new antibusiness government, some foreign companies, from airlines to auto parts makers, are pulling up stakes.

Latam Airlines Group SA, which is headquartered in Santiago, said it was ceasing...

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