No menu items!

Sergio Massa meets banks and funds to define measures and a possible new exchange

Share This Post

- Advertisement -

After Edesur’s intervention, Sergio Massa will focus once again on the financial front and will meet his team this Wednesday morning banks, brokerage firms and mutual funds. It will be a working lunch to exchange “context opinions” at the Ministry of Economy, amid expectations for the announcement of measures to stabilize the economy in the face of the crisis hemorrhaging of reserves and accelerating inflation.

- Advertisement -

The summit convened at the Palacio de Hacienda will take place before the a new peso debt auction to cover deadlines $350 billion this week. We also talk about a new debt swap to unpack pending payments for $4 billion in the second half. But the market does not exclude that the meeting has to do with the package that Massa is preparing to calm the dollar and prices.

In the last few hours, rumors of a possible have resurfaced exchange rate split, measure denied in Economics. The central bank has already lost $2.3 billion on the year and the government has postponed payments of $2.7 billion that were due this Monday and Tuesday for March 31st. “These are issues on the banking agenda, that’s where they anticipate something on the foreign exchange issue,” speculated one banker.

- Advertisement -

Massa met with key executives of private and public banks two weeks ago to agree on the exchange of 4.3 billion dollars maturing between March and June. The operation, which made it possible to postpone commitments to 2024 and 2025, provided for inflation-adjusted and dollar-adjusted bonds, and a tool for banks to get rid of bonds, concessions that have led to harsh criticism from the opposition and a complaint against the Central Bank.

developing

Source: Clarin

- Advertisement -

Related Posts