“There are a lot of questions that also take away the possibility that the agreement will collapse your country risk, when you have a program that is credible and that would have given you relief for financing the economy,” said economist Daniel Artana , of the Latin American Economic Research Foundation (FIEL).
“What you are going to have is some reduction, but a very modest one, because the main problem is the mistrust generated by this government’s economic policy,” he added.
The country’s index restarted on September 10, 2020 in the area of 1,083 points after a millionaire restructuring of sovereign debt held by private creditors.
The S&P Merval attentive to Congress
The Buenos Aires stock exchange began with improvements before selective taking of positions in a day where an agreement with the International Monetary Fund to restructure a million-dollar debt will begin to be discussed in Congress.
The S&P Merval stock index of Argentine Stock Exchanges and Markets (BYMA) gained 1.2%, to 90,585.85 points, after advancing 1.76% last week. The improvement was led by companies in the energy segment.
“The market rises selectively, favoring companies linked to energy,” said a stock operator, adding that “despite the bullish start, the market is unstable, hit by the trend in foreign markets.”
The Russian invasion of Ukraine triggered a rise in international oil priceswhich reached its highest level since early 2008, fueling fears of higher inflation and lower global economic growth.
Source: Ambito
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