Beyond the rises, the political tensions within the government coalition and the difficult situation in Ukraine after the Russian invasion that sent raw material prices skyrocketing, create a cautious climate among investors.
Operators affirm that the new agreement with the IMF and the recent “time bridge” reached with the Paris Club are good news for the market, but investors remain immersed in growing doubts about the future of the local economy.
“What is being decoded here is political risk, which goes hand in hand with internal tensions in the government, which makes investors uncomfortable”estimated Gonzalo Gaviña from Portfolio Personal Investments.
“The market is uncertain, the risk remains present and caution is not left aside”, said Javier Rava of Rava Bursátil.
The agreement with the IMF establishes a grace period of four and a half years, and extends disbursement payments to 10 years, for which the country will begin to pay off the debt in 2026 and end in 2034, in addition to establishing growth goals , lowering of inflation, strengthening of the reserves of the central bank (BCRA) and quarterly revisions of the accounts.
Market sources discount that it is lThe green light will be given to the agreement and with it a prompt disbursement of some 9,800 million dollars, of which some 6,800 million would enter the reserves of the BCRA after a pending payment.
Pampa Energía, one of the main energy companies in Argentina, is analyzing participating in two tenders in Ecuador to expand the supply of electricity through wind farms and a combined cycle plantcompany president Marcelo Mindlin told Reuters.
In the fixed income segment, sovereign bonds denominated in dollars improved up to 1.6% on average, after four consecutive low sessions.
For his part, the argentine country risk prepared by the bank JP.Morgan it fell 0.7% units to 1,805 units.
Source: Ambito
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