According to official estimates, of the approximately US$40 billion that entered the country to invest in local paper between 2016 and the first quarter of 2018 (before the start of capital outflows and the start of the government’s financial crisis by Mauricio Macri); currently they would be left with positions in local bonds in pesos between US$3,000 and 4,000 million. They would be invested in public titles launched during the administration of Alberto Fernández and Martín Guzmán, but they correspond to money that entered the previous government and that, in some way and for some reason, it is still trusted that the positions will improve and they will earn money. Or that it is preferable to remain in these hard times and speculate that at some point in the coming years everything will improve (especially within the crude political reality of the country), and that there will be a recovery in papers that are currently sailing in a situation of default. The same as the bonds in dollars issued after the restructuring of August 2020, when a Net Present Value (NPV) of 54.8% was agreed; bets that today sail with difficulty to sustain a 33%.
Source: Ambito
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