In the Casa Rosada it is interpreted that these movements respond to “the volatility of the markets” and that they will be overcome since Treasury accounts show surplus, the Central Bank carries out a contractive monetary policy and soon credits will be specified by important figures granted by multilateral organizations.
In recent weeks he had a negative impact The deterioration of international financial markets, particularly from the uncertainty derived from the threats of application of trade to trade that displays the administration of the President Donald Trump.
Messages
Subsequently, both the government and the International Monetary Fund (IMF) gave several messages that sought to generate calm in a context in which exchange uncertainty led to importers to accelerate external purchases and exporters retain the currency offer –In March, the Central Bank reserves fell almost US $ 3,000 million closing the month around 25,000 million.
Caputo said that the IMF has been requested to support US $20,000 million, a figure that, together with the World Bank loans and the Inter -American Development Bank, would allow reservations to be taken to about US $ 50,000 million. The minister stressed that this amount excessively support the entire broad monetary base. However, some economists They relativized The data indicating that the disbursements will not be immediate and that the potential demand for dollars is 120,000 million if the deposits and holdings of public securities are counted.
Subsequently, the minister said that Argentina is in a position to request more than 40% of the fund in the first section, aspiration that was guaranteed by the agency’s managing director, Kristalina Giorgieva.
Moreover, it was known that A Congressman from the United States urged the White House to support an initial disbursement of US $ 15,000 million For Argentina. The Republican representative María Elvira Salazar Formally requested the United States Treasury Secretary, Scott Besentto use its influence on the IMF to guarantee a significant financial assistance package for the country underlining The need for key financial support to stabilize its economy and project a free market model in the region – The United States is the country with the greatest decision-making power in the agency’s directory.
For its part, the Chancellor Gerardo Werthein He met on Tuesday with the US Secretary of State, Marco Rubioin Washington. In this meeting, as transcended, the possibility of a bilateral commercial treaty was analyzed, among other issues.
The fluid relations of the Argentine government with the administration of Donald Trump They will have another milestone on Wednesday when the president Javier Milei trip to the United States with Minister Caputoaccording to official sources to Scope. They said that the first Argentine president will be awarded a prize related to the slogan of his US pair, “Make America Great Again”.
The ceremony will take place in Mar-A-Lago Palm Beach, Florida, personal residence of the US president, where Milei and Trump will return to meet.
In this context, this Tuesday the Central Bank cut its negative streak In the official market, at the end of the day with a net purchase of 53 million dollars, after 12 wheels in which he was a seller. The Future dollar contracts threw important casualties in all deadlines.
Beyond the relatively favorable results of today, Market operators point out that there is still expectation about what the exchange scheme that results from the new agreement with the IMF will be.
In this sense, times are not a minor issue. Georgieva said he expected the negotiations to end before April 21. One possibility would be for the Board of Directors to treat the Argentine case on Friday, April 11 or differ at 17 of the same month. That is They would remain between 7 and 11 days before the unknown is unveiled, provided that the deadlines that the director of the fund predicts are fulfilled.
Source: Ambito
