Challenge
Of the total financing obtained, 26% was represented by nominal fixed rate instruments maturing in 2022 and 2023, while the remaining 74% was represented by variable rate instruments maturing in 2027.
Now, looking to meet the deadlines of the year that ends. the ministry commanded by Sergio Massa intensified contact with the private sector to end up pacifying the local plaza.
It is that, in November, the Palacio de Hacienda will have to face the maturity of $250,000 million, a test that will take place next week and that the Government wants to pass before the December test, of $390,000 million.
Prophecy
Meanwhile, this Wednesday, Nicholas DujovneMinister of Economy during the administration of Mauricio Macri, predicted that Argentina “will be worse” than now in 2023, and considered a “forceful fiscal program” necessary to ensure that the economy can stabilize.
According to the former official: “The climatic conditions are showing a high probability of a major drought, we already see it in wheat, we hope not to have it in corn and soybeans. But if it does happen, the supply of foreign currency will be less and the amount produced will decrease. We are going to have a contraction in the GDP, the economy is going to decrease”.
“Since we are not facing the fiscal problem and we are issuing money and we do not have another source of financing, inflation is going to be higher, because there are also many Treasury debt maturities in pesos, which the Central Bank is probably going to buy in the market,” he added.
For Dujovne, the solution to these problems “is very clear” and he said: “The Government would need a forceful fiscal program that changes expectations. But it does not want to, cannot or does not know how to do it. It is what we need today and it is the only thing that I would turn this situation around.”
“When one goes to a speed of 100% annual inflation, that is showing us the symptom of something complicated. A serious fiscal situation where the deficit is very high. In addition, another phenomenon is taking place, which is that people increasingly want to fewer pesos in the pocket,” warned the economist, in statements to the LN+ channel.
Source: Ambito
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