Consequently, the country risk measured by JPMorgan It fell 0.3% to 2,391 points, compared to a recent intraday all-time high of 2,976 points.
The President of the Chamber of Deputies, Serge Massa, It will take the reins of the Ministry of Economy, which will now encompass the economic, productive and agricultural areas. “Massa’s entry as super-minister of the economy brought calm to the markets and hope to some investors”, commented from EconViews.
They added that “however, there are still many doubts as to whether Massa is clear that the economic measures to reduce the fiscal deficit or lower the exchange rate gap imply political costs that require strong support from Kirchnerism (part of the ruling party), and not You know if you have it.”
Investors await economic announcements that seek to reassure the financial market at a time when annual inflation threatens to exceed 80%, the Central Bank has few reserves and exchange rate pressures put pressure on the market.
The designated new minister named this Monday part of his cabinet. Eduardo Setti, an economist with experience in the capital market, will be the Finance Secretary, while the experienced Daniel Marx will be part of the public debt monitoring team. Y Raul Rigo will be the Secretary of the Treasury.
“They are intended to strengthen reserves, ensure Treasury financing and promote the development of a national capital market,” Massa said on his Twitter account.
In addition, he announced via Twitter that the Vice Presidency of the Central Bank (BCRA) will be in charge of Lysander Cleri, who until now served as Executive Deputy Director of Operations of the Guarantee Fund and Sustainability of ANSES. With this appointment, the new minister will seek to influence BCRA decisions, while for the time being the current minister Miguel Pesce He has banking from broad sectors of the coalition to continue in his position.
Massa also appointed George Domper as Deputy Secretary of the Budget and claudia balestrini in charge of the Undersecretary of Public Revenues. As long as setti will be accompanied by Leandro Toriano, Natalia Capurso Y Celeste Left. The kit is complete with Leonardo Madcur as Chief of Advisors to the Ministry.
Massa will travel to the United States and France at the end of August to meet with authorities from the IMF and the Paris Club.
S&P Merval and ADRs
The stock index BYMA’s S&P Merval lost a strong 4% to 117,586.78 points on profit taking and after accumulating a 7.6% rise over the past week and ending July up 38.53%.
The leading panel marked an all-time high of 130,650.78 points on Thursday.
For their part, the Argentine papers in wall street closed with most losses, in a negative day for the main Wall Street indices.
The declines were led by South Gas Carrier (-3.9%); Cresud (-4.3%), and Telecom (-2.5%).
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
