He market is attentive to the transition in the Finance area of the Ministry of Economy. Be supposed to Joaquin Cottani would be the one summoned by the new Minister of Economy, Luis Caputo, to occupy the tasks that he handles today Eduardo Setti. There were still no meetings between the teams, according to Ámbito.
In the government they explain that The question is not so urgent. There is room for new officials who take office on December 10 to get up to speed on the Secretariat’s agenda. One point in favor of this is that The few interest maturities that exist during this month correspond to holdings that are in the public sector.
The emergencies will begin to run from January, when months of high maturities occur, although the majority are in the hands of the state itself, according to private estimates. Some estimate that 60% is intrastate and others raise that figure to 75%. In both cases renewal is assured. Between January and April, bonds worth $20.7 billion mature.
For now, The incoming economic team has shown greater interest in the fiscal deficit, the area managed by Raúl Rigo. It is estimated that the year will close with a fiscal deficit of 3% of GDP. A point in favor of the new management is that, if the numbers are done correctly, a fiscal surplus can be achieved in January.
The expectation for the transition in the area of Finance in the markets is related, among other things, to the transcended from a possible Luis Caputo plan which could lead to neo-convertibility or dollarization by February. The information came from the Bull Market brokerage company, which belongs to the family of La Libertad Avanza leader Ramiro Marra.
The market takes what Bull Market reports with a grain of salt to its investors, considering that it has access to the new economic authorities. However, the version says that Caputo would get about US$15,000 million from Saudi funds, about US$3,000 million from the IMF and that the cereal companies would contribute another US$5,000 million..
According to consultant Salvador Distéfano, the government would move to a dollar of $650 in December and another of $1,000 for February and with this it would try to eliminate the Leliq, which totals about $25 billion.
Distéfano suggests that, if it works, it would leave the country “on the verge of neo-convertibility or dollarization of the economy.” “By February the government would study sending a bill to change the monetary and exchange regime,” adds the consultant.
The Bull Market report speculates that the incoming minister Luis Caputo could be Javier Milei’s Remes Lenicov, and the next minister is the one who would find a clear path for the change in the monetary and exchange regime.
Source: Ambito
