Pablo Quirno, the Secretary of Finance, spoke at the Business School of the Universidad Austral and provided details on the state of the debt and appealed to the market’s confidence.
The Secretary of Finance, Pablo Quirnoassured that the Government rejected offers of financing from of international banking, and relativized the “weight” that the country risk rate, Because YPF entered the market and took out financing at a rate of less than 10%
“We have offers from banks to go to market today and we are not taking them. It’s not a question of us not having access to credit, But we have a lot of financing alternatives that leave us calm,” said Quirno during a meeting held by the Business School of the Universidad Austral.
The official considered that: “There is a debt problem when it comes to financing the State. I have the best job right now. I don’t have to finance the state. “I don’t have to take on any new debt.”
Ministry of Economy
Ignacio Petunchi
For the official, “the debt problem is when the numbers are not in order, that is, the macro is not in order” and in that sense, He appealed to the confidence and credibility that the Government seeks to give to the market.
“From the very beginning, we have sought to take actions that will earn us market credibility through our actions. And those actions are to honor contracts, honor deadlines, and make decisions that provide predictability and transparency. The consequence is that this greater credibility and these results are what will give us access to the markets,” said Quirno.
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When asked why the Country Risk rate does not fall substantially despite the Government’s assurances that it has fixed the macroeconomy, the official said that it is one more indicator and one that has its importance in relation to what people and investors look at access to financing.
And on that point, he stressed that: “It should not be forgotten that YPF has only recently entered the market. It was the first company to enter the market after many years and it did so at below 10%, even with the country risk at 1500 points. So, are we looking at the right thermometer?Why is YPF selling at 10% when it should have sold at 35%?“Quirno wondered.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
