1. US-retailer Walmart announced that it was exiting the Argentinean market as part of itsstrategy to prioritise key markets and focus on the development of e-commercecapabilities.2. We note that Argentina's macroeconomic environment will continue to be a mainchallenge, especially for international companies operating in the country, subject tohigh currency volatility.3. We also highlight the country’s increasingly competitive landscape for discounters inArgentina, with a number of domestic players expanding rapidly since 2018.4. The combination of adverse macroeconomic conditions, currency volatility and anincreasingly competitive environment makes the Argentine mass grocery retail marketchallenging for foreign investors.
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