In the midst of tension on exchange rates, with a record quotation of the blue dollar, a group of deputies from Juntos por el Cambio presented a request for information so that the Minister of the Economy, Sergio Massa, and the president of the Central Bank, Miguel Angel Pesce , take note of the intervention in the dollar debt market this Wednesday.
This was stated by Federico Angelini, deputy and pro tempore president of the Pro clarion that the suspicion is that the government has made heavy sales “destroying the value of the bonds, with the sole objective of marking a closing price of the MEP dollar and the cash with the settlement lower than that negotiated during the wheel”. To back up his suspicions, the congressman pointed out that markets are trading on a rising dollar again this Thursday.
“They burn Argentine bonds to hold the dollar down for a while because they know they’re going away and they don’t bother destroying everything,” said the legislator, who asked that “those responsible for these maneuvers be investigated.”
In the presentation made by Angelini and which is accompanied by deputies Luciano Laspina, Ricardo López Murphy and Germana Figueroa Casas, both Massa and Pesce are invited to indicate whether it is true that on April 19 the Treasury, the Central Bank and other public bodies carried out ” a massive sale of government bonds (Global and Bonares).”
Through his Twitter account, Laspina underlined that this intervention on the bond market to lower the price of the euro deputy dollar was “real nonsense”. “It destroyed the price of bonds and debt was issued at stratospheric rates. All to one day support the ‘ah, ma Aracre’ theory,” she added.
The deputy’s reference for Santa Fe has to do with the argument that was repeated by the economy minister to justify the tension in the markets and which concerned the versions that Aracre would assume as economy minister, a derivative voice by the resignation of the chief adviser to Alberto Fernández.
Beyond the internal policy maintained by the Government, Global 2030 fell to 12.3%, followed by Global 2029 (-9.5%), Bonar 2030 (-8.8%), Bonar 2029 (-7.8% ) and Bonar 2035 (-7.1%).
For opposition MPs, what is striking is that 381 million dollars of nominal GD30 were exchanged against pesos in Byma t+2, the highest number in history so far and most of it was exchanged in the last half hour of the wheel. “We will not allow the BCRA and the Ministry of Economy to continue to influence the price of local debt, with interventions that have negative consequences for the country”, the opposition deputies sent.
In the draft, they also asked Massa and Pesce to determine the “market impact” of the transactions and to indicate “the total amount traded”. They also asked for reports on how it affects market transparency and investors.
Figueroa Casas told this newspaper that “with the idea of touching the dollar and taking the issue forward, bond prices go down, it’s something very artificial that hits government bonds and damages credibility.”
The MP harshly blamed the economic team when he warned him “they’re breaking all the contracts that work and there’s nothing left standing”.
Likewise, the deputies agreed that this operation will have an effect on the next government, but already affects the Argentine economy because it “brings mistrust into the country”. “An example of this is the country risk, which exceeds 2,600 points. Furthermore, the government continues to squander scarce resources, with a single political goal. 35 dollars per bond that was sold yesterday for 25 dollars”, Angelini finally underlined.
Source: Clarin
