Financial activity is conditioned by strong local and global inflationary pressure, plus the restrictive effects produced by the war in Ukraine.
The Argentine government presented a bill on Monday to tax companies that have an “unexpected income” due to the global rise in prices, a measure rejected by the market, with the aim of reducing the fiscal deficit.
The Argentina’s sovereign debt fell on Tuesday in the face of greater aversion to risky assets given a global advance in the dollar and renewed fear for the future of the global economy following a surprise interest rate hike in Australia.
Financial activity is conditioned by strong local and global inflationary pressure, plus the restrictive effects produced by the war in Ukraine.
The market “continues to show high volatility and sensitivity to macro data. The ‘commodities’ continue to rise in general terms, increasing the delicacy of the situation due to the inflationary pressure that this implies,” said the consulting firm Delphos Investment.
Analysts consulted by the central bank (BCRA) estimate inflation of 72.6% in Argentina for 2022, 7.5 percentage points more than what they forecast the previous month.
The Government of the South American country presented a bill on Monday to tax companies that have an “unexpected income” due to the global rise in prices, a measure rejected by the market.
Over-the-counter bonds yielded 0.2% on average with reduced and selective trading, while the Argentine country risk JP.Morgan bank rose 10 points to 1,917 points by 1545 GMT.
Source: Ambito
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