“I think on the one hand It is more than expected by the market that had been lowering the foam in this regard, But he also left some doubts about Dex’s transitory decline and implementation times. Likewise, beyond all that, the announcement continues to prevail as yesterday. This is worth as a treasure rescue, now it remains to know how we are going to take advantage of it, “said Gabriel Caamaño, Outlier economist in dialogue with Scope.
“Besent’s post generated a strong market reactionwith bonds in dollars more than 5% before the announcement, reflecting that it is more than what I was extended. It clears the uncertainty about the liquidity difficulties generated by the economic program so far – the announcement that the treasure would be willing to buy directly sovereign debt strongly increases the chances of the country risk to fall to the point that the government can go out to issue debt at the beginning of 2026 “Federico Filippini, Chief Economist of Adcap Grupo Financiero said.
For its part, the analyst Federico Glusteinsaid the “strong support to the government” that represented the SWAP line, and added that it will help avoid strong volatility in the change market. “Also, I think that it serves to pay the US $ 5,000 million of the active section of the Chinese swap and pass it to the Americanaccounting is indistinct but geopolitally significant. Then, Besent said he expects a redesign of the economic program, with medium -term policies that do not think about the next elections but in matters of sustainability of both debt and economy. “
In turn, the financial analyst Ezequiel Vega He stated that this announcement should boost the purchase of the global -gd- and the bonares -al-, “and strongly recover what is lost in the last two weeks.” He said that this movement could generate the country risk to drill the 700 basic points, levels reached at the beginning of the year. “The dollar should be maintained between 10% and 15% below the band’s roof. And at the level of international reserves there would be enough money to cover the debt maturities of January and July 2026, “he added.
The economist Amilcar Collante, described as “important support” that of the US to Argentina. “It is clear in the dynamics of sovereign and Merval risk this scenario was not discounted. It must also be noted that in the previous last Friday a very critical scenario of exchange running with an increased sovereign risk.”
Scott Besent’s announcement
He US Treasury Secretary, Scott Besentsaid through social networks that they are negotiating with the Argentine authorities A US $ 20,000 million swap line with the Central Bank (BCRA). They also announced that “They are ready to buy Argentine bonds in dollars” and will do it according to the conditions, they demand it, as they are found “Prepared to grant an important Stand-by credit through the exchange stabilization fund.”
“I was in contact with numerous US companies that plan to make important direct foreign investments in Argentina in multiple sectors in case of a positive electoral result,” said Scott Besent and said that “immediately” after the elections, “we will begin working with the Argentine government in the payment of its main debts.”
Within the ads, the possibility of “End the fiscal exemptions for producers of raw materials that convert currencies”. If that is specified, it would be rolled up The announcement of “zero retentions” made by the government of Milei just two days ago.
The announcement of Scott Besent and the solid support of the United States were, without a doubt, the “galley rabbit” of the economic team for Win oxygen on the way to the October elections. From the perspective of Washington, the approach to Argentina is part of a broader geopolitical strategy, aimed at strengthening its network of allies in Latin America, a region where progressive or left -wing governments currently predominate. At the same time, this play reinforces the US positioning against China, which in recent years knew how to gain ground in the region, occupying the space that Washington had left vacant.
Pablo Gerchunoff, in his X account he raised the following look that is worth standing beyond the rally: “I promise you a lot of help with that promise of help is generated optimism and you want the elections. If the elections want the markets, they put on your side and you no longer need so much help. Virtual Marshall Plan “.
Source: Ambito
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