Thus, the country risk measured by JPMorgan climbed 1.6% to 2,068 basis points, the highest in almost three weeks.
Within the framework of an agreement with the IMF in 2022the Government is negotiating a reduction in the required volume of reserves from the Central Bank (BCRA), at a time when the drought in the countryside complicates the liquidation of dollars.
This adverse context for finances is further complicated by the projection of a new interest rate hike by the US Federal Reserve (Fed).
S&P Merval and ADRs on Wall Street
In the Buenos Aires stock market, the index S&P Merval decreased 0.8% to 247,693.55 points, after starting the first month on the rise.
In turn, the Argentine papers that operate on Wall Street operate with a majority of losses, of up to 3%, thanks to financial companies such as Grupo Financiero Galicia, Banco Macro (-2.4%), Banco BBVA (-2.3%) and Grupo Superville (-2.3%). While, Tenaris (+1%), Ternium (+0.8%) and Edenor (+0.8%) advance.
Source: Ambito
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