The Government minimized the jump in the dollar and the country risk

The Government minimized the jump in the dollar and the country risk

Presidential spokesman Manuel Adorni said on Tuesday at his usual press conference that the Government does not “care” about the value of the dollar and that he is not worried about the progress of the risk country recorded in the last two days.

His statements are made against the backdrop of the collapse recorded in the Sovereign bonds in dollars and the risk countrymeasured by JPMorgan, exceeds 1,600 basis points. new economic regime announced by the Ministry of Economy does not seem to convince the market and sows doubts and recalibration of perspectives.

In this context, Adorni said that the Executive Branch was surprised by the drop in dollar prices recorded on Monday. “Beyond the fact that the abrupt fall in the price of financial dollars was surprising, it caught attention because It was in response to an announcement and there was no intervention in the market yesterday.“, he claimed.

ADORNI1200.jpg

Manuel Adorni downplayed the rise of the dollar and the country risk.

“The truth is that we do not look for an explanation for what is happening on a day-to-day basis, We do not care about the value of the dollar, we are not worried about the dollar, we are not concerned about the dollar, we are not concerned about country risk. “What really worries us, what keeps us up at night, every day, until we finish solving the problem, is our weight. We have had problems with our weight for a long time,” he emphasized.

Country risk exceeded 1,600 points

He risk country exceeded 1,600 points amid investor uncertainty over the impact of the latest measures announced by the national government.

The JP Morgan index reached 1,604 points, due to a new drop in bonds. Investors doubt the Government’s ability to continue accumulating dollars and pay the rest of the commitments it must assume.

It is worth remembering that this Tuesday the reserves will fall by another US$650 million due to a new payment to the IMF.

In the last few hours, the international credit rating agency Moody’s warned that the migration of remunerated liabilities from the Central Bank to the National Treasury promoted by the national government will cause greater exposure of banks to public debt and a greater risk of liquidity.

Blue dollar today: how much is it worth this Tuesday, July 16

He Dolar blue This Tuesday it is quoted at $1,385 for purchase and $1,415 for sale, unchanged from the previous day.

Meanwhile, the MEP dollar fell to $1,290 and the cash settlement dollar to $1,262.

Blue dollar investments finances

The government downplayed the message from the markets.

The government downplayed the message from the markets.

Depositphotos

Prior to the daily adjustment, the wholesale exchange rate is $923, which means the gap with the parallel dollar is 56%. The value of the bill at Banco Nación is $940.50 and at the average bank is $959.99.

The Central Bank bought US$34 million yesterday and added US$261 million in July. Gross reserves amount to US$28,172 million.

The IMF projects that GDP will fall 3.5% this year in Argentina

He International Monetary Fund (IMF) The US economy has worsened its projection for the Argentine economy in 2024, estimating that GDP will fall by 3.5%, in a new update of the World Economic Outlook (WEO) report.

The agency’s outlook for the country’s economic activity this year shows a deepening of the recession, going from a contraction of 2.8% forecast in April to a current 3.5%. As for the projection for 2025, the report maintained the expected growth at around 5%.

Regarding inflation, the report did not provide new details, but at the conference where the new data was presented, the Fund officials highlighted the slowdown of the CPI in Argentina and estimated an improvement in the annual price variation by placing it at 140% for 2024, compared to the forecast in April, which was 149.4%.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts