At the beginning of 2023 the Dolar blue last year’s trend continues: running after inflation. On Fridays closed the week at $372with which he cut the entire rise of the week.
New in development
100 days of strong economic and political uncertainty begin
In the middle of a working lunch, the president of a major construction company with state contracts received a phone call with comforting news: Economy told them it would unblock payments until January 2024.
The provision has obvious support: Sergio Massa wants to keep public works active in the election year and knows that a large part of his political fortune is at stake in the next 100 days. to know more
The blue dollar opens unchanged
At the start of a new week, the blue dollar opened the day at the same values it closed on Friday: $373 selling and $369 buying.
An exchange that does not remove all doubts
Several months ago, debt rollovers in pesos were complicated. Even when it was able to refinance (roll up), investors didn’t want to take a position beyond the STEP. In fact April, May and June of this year have been key months.
April, for example, started with a “peso maturity wall.” He was facing a critical situation: a debt with a very large volume in pesos that fell due in a very short period. The title was high, but what was more complicated was the concentration of maturities. to know more
The official dollar opens unchanged
The official dollar started the week on Monday with the same values at which it closed the previous session: 207 dollars sold and 199 dollars bought, according to the list on the Banco Nación blackboard.
Sergio Massa has promised Wall Street a law that protects the transfer of dollars to energy companies
Economy Minister Sergio Massa has promised Wall Street analysts investments and legal certainty. He was in a conference call appearance at a YPF event celebrating the 30th anniversary of its public listing.
“Over the next 20 years, gas and oil must transform Argentina as agriculture has done,” the minister said. to know more
Gabriel Rubinstein defended the debt-to-peso swap and criticized the economists of Together for Change
Gabriel Rubinstein at the IAEF.
Instead of discussing a successful trade, why don’t we discuss the future? Under this headline, Gabriel Rubinstein, deputy economy minister, issued a statement defending the recent debt swap for 4.3 trillion pesos and criticized the economists of Together for Change who had opposed the operation last week .
Specifically, Rubinstein pledged against former minister Hernán Lacunza, former Central Bank president Guido Sandleris and MP Luciano Laspina. In the text he denied the statements of these economists before the exchange and then invited them to discuss the 2024 Budget to bring the fiscal accounts towards balance, instead of the expected deficit of 0.9% of GDP. To know more.
Late summer: drought worsens and financial dollars rise again
Although the blue dollar appears calm on the street, the financial dollars are showing increasing tension: last week, amid doubts over the exchange of debt for pesos and a greater drop in central bank reserves, both the dollar counted with the liquidation and the MEP is finished. The case closed at $393, up more than 6% for the week, and warm weeks are expected in the City.
Behind this progress there is not a single explanation, but a myriad of factors. On the one hand, a bad global climate affecting emerging economies. This can be seen in the price of dollar bonds, which have quickly moved away from the promising end of the year and which, after closing in the red in February, have accumulated losses of up to 12% this month. To know more.
Source: Clarin
