ARGENTINA’S POVERTY RATE Poverty Rate % 40 30 20 10 0 2016 2H 2017 1H 2017 2H 2018 1H 2018 2H 2019 1H 2019 2H 2020 1H 2020 2H Source: Bloomberg. Retrieved from: https://www.bloomberg.com/news/articles/2021-03-31/poverty-in-argentina-climbs-to-42-after-historic-recession Moreover, the unemployment rate in Argentina was around 11% of the economically active population by the end of 2020. The decline among formal-economy workers was smaller due to the protection policies introduced by the government, which included a prohibition of dismissals without proper cause and the absorption of part of the wage bill in sectors affected by the lockdown. The government also introduced an Emergency Family Income (IFE, by its Spanish acronym), which targets lower-income groups. Estimates by the Ministry of Economy showed that these measures avoided an increase of 6-8 percentage points in the poverty rate (IDB, 2021). ARGENTINA’S UNENPLOYMENT RATE 2017-2020 16 % NSA 14 12 10 8 6 2017 Q4 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 Source: Moody´s Analytics. Retrieved from: https://www.economy.com/argentina/unemployment-rate 06 DFIs FINANCING IN ARGENTINA DURING THE PANDEMIC: COVID-19 PROJECTS AND TRANSPARENCY SHORTCOMINGS 2020 Q4