The Uruguayan exporters They analyze whether the Bopreal launched by the government of Javier Milei in Argentina It is a viable option to collect debts from the neighboring country, which amounts to at least 30 million dollars, according to August data from the Chamber of Industries of Uruguay (CIU).
Its about Bond for the Reconstruction of a Free Argentina who launched the central bank of the neighboring country with the objective of reducing the stock of debt commercial of Argentine importers with their suppliers. In this regard, the person responsible for economic advice of the Union of Exporters of Uruguay (UEU), María Laura Rodríguez, who, in dialogue with Subrayado, pointed out that “it is a viable option,” although he admitted that “the ideal would be to charge in dollars as agreed.”
When analyzing the measure promoted by Milei, Rodriguez He pointed out that “that bond will be listed on the market at a certain price and the person can wait until the end of the period to collect or sell it on the market,” after which he expressed that “that is the issue.”
It is that he Bopreal has not yet managed to generate confidence in the sector. “It is good news to have some type of mechanism to solve this issue, it is not ideal,” warned the reference of the UEU, while he clarified: “The ideal for me would be to charge in dollars as the business was agreed upon.”
In any case, he did not close the door to the instrument, which today had the opening of its fifth tender. “We will see if in the coming weeks we see a viable option that does not have too high a financial cost,” Rodríguez said.
Bopreal failed to attract the interest desired by the Argentine government
To date, four auctions have been held. Bopreal in which the BCRA It placed only 1,644 million dollars, of the nominal 5,000 million allocated to the first series, or which represents just 7.2% of the net 23,100 million officially recognized as debt by the Milei administration.
In addition, the fifth auction of the Series 1 of the Bopreal. It is worth noting that in the last tender, held last week, the government managed to award all of the offers received, reaching a nominal value of 340 million dollars, although far from the third wheel, the most successful, reaching an equivalent amount. to 1,179 million.
The offering of these securities began four weeks ago, with the first tender attracting 34 offers for a nominal value of 68 million dollars, which means 9% of the total offered. Meanwhile, in the second operation, the central bank had awarded all of the offers received for a nominal value of 57 million dollars, which implied 7.6% of the amount auctioned.