The Leading index S&P Merval of Argentine Stock Exchanges and Markets (BYMA) lost 1.82%, to 84,928.55 pointsafter falling 1.98% last week and accumulating a slight rise of 1.71% so far this year.
“The local market, like other emerging countries such as Brazil, was also affected by the rise in rates in the United States,” said Noelia Bisso of Rava Bursátil.
This week the statistics entity, INDEC, will release the inflation index for April, which according to analysts would be around 5.8%, from 6.7% in March.
“We knew that March was going to be the worst month in terms of inflation. April is less bad, but we have a problem in Argentina with inflation and we have to attack it firmly, decisively, and that requires a consistent economic program” , said Economy Minister Martín Guzmán in radio statements.
Argentina recently closed an agreement with the IMF by which it restructured a debt of some 44,000 million dollars.
Bonds and country risk
On Friday, sovereign bonds denominated in dollars fell in the week to 3.3%.
In this framework, the Argentine country risk prepared by the JP.Morgan bank rises 1.2%, to 1,828 units.
Source: Ambito
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