Silvina Batakis meets the president of the Central Bank

Before taking up his post at Casa Rosada this afternoon, the Minister of Economy, Silvina Batakis will meet with the President of the Central Bank, Miguel Ángel Pesce this Monday. The head of the monetary authority had already given a first signal to local market players. when he goes out again to buy pesos bonds to support prices.

As previously explained by the spokeswoman for the Presidency, Gabriela Cerruti, indicated that the appointment of Batakis it was a “recommendation” from the head of the Central Bank, Miguel Angelo Pesce. “Now we will have a great economist, feminist and with an environmental and gender perspective”Cerruti said.

Now Pesce and Batakis will have to lay the foundations on key issues, such as the BCRA’s ability to accumulate reservesthe latest import restrictions and the stability of the currency market.

The sources who had access to these conversations explained: “The work agenda foresees as a priority the advancement in the development of the capital market, the support of the Central Bank at the price of the securities, the continuation of the work on a sustainable fiscal program. and the accumulation of reserves, which are part of the road map drawn up by the government to stabilize the currency ”.

In a market with few operations, due to the Independence Day in the United States, but altered by the impact of the replacement at the Palacio de Hacienda and doubts about the economic path that the Batakis team will follow, despite the purchases by the Central Bank, pesos securities operate with falls. In some cases they exceed 5%.

“The debt in pesos is not only important for the performance of the instruments, but as a financing tool to cover the financial program“, PPI analysts explain.” Logically, we expect the election of Batakis to lengthen the weakness of the weight curves, even if we do not believe it will change the government’s position on the need to keep this market performing (at least in the short term) . ), “they added.

YN