This market remains influenced by the disputes within the governing coalition of President Alberto Fernández and the international crisis that triggered the Russian invasion of Ukraine.
The South American country has just closed a millionaire agreement with the International Monetary Fund (IMF) to refinance debt for some 44,000 million dollars, with the entry of fresh funds for the reserves of the central bank (BCRA).
Yesterday, the bonds in dollars registered the majority of increases for the fifth consecutive day, highlighting in this day the increase in the price of the Bonar AL29 (1.9%). In this framework, the Argentine country risk remained almost stable, culminating in 1,729 basic points.
At the same time, among securities in local currency, those indexed to the Reference Stabilization Coefficient (CER) once again stood out, in a context in which an average price increase of more than 5% is expected in March.
“March closes with a strong inflation of between 5.5% and 6%, with food above the average, which projects a floor price rise of 60% by 2022,” said Marina Dal Poggetto, an economist at the consulting firm Eco Go.
In this framework, in the third month of the year, 80% of the net financing in pesos obtained by the Ministry of Economy was given in instruments adjustable to price increases.
Source: Ambito
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