At par, the MEP dollar -also valued with the Global 2030- falls 0.4% up to $283.29, so the gap against the official exchange rate reaches up to 113.2%.
For its part, the blue dollar increases $2 (0.7%) to $293, According to a survey carried out by Ámbito in the Foreign Exchange Black Market, the gap compared to the wholesale market reaches 120.5%.
Massa pointed to announcements of fiscal austerity, strengthening of the reserves of the Central Bank (BCRA) and promotion of trade, in an attempt to overcome the financial crisis, which the market celebrated for “going in the right direction”, although in practice remains cautious and with some doubts, waiting to know more details about “how” all these measures will be implemented.
A report of Goldman Sachs notes that “Argentina needs a more conventional and disciplined policy mix to rebalance the economy, and that means, first and foremost, establishing a credible path toward structural fiscal consolidation and an exchange rate that can reflect the macro fundamentals that would require a bold reduction in the repression/financial controls”.
Massa also said he will launch a voluntary swap for debt maturities in pesos in the next 90 days, which will end on Tuesday.
Source: Ambito
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