A technical team from the Ministry of Economy and Argentina’s central bank (BCRA) will travel to Washington on Saturday to hold meetings with IMF staff.
Market versions indicate that the Government would like to agree with the multilateral organization before the end of the year, following an agreement with the opposition endorsed in a multi-year plan to be discussed in Congress.
Ayelén Romero, account executive at Rava, said that “We could consider today’s conference (for Wednesday) as the beginning of the reaction after Guzmán’s official announcement about the payment to the IMF”.
“The illusions about a better end of the year are growing, with the signing of an agreement with the IMF, for example. Local assets rebounded strongly not only because of this, but because abroad it was beginning to analyze that the new omicron strain seemed not to be so lethal “, synthesized a financial agent of the foreign bank.
Bonds and Country Risk
On Wednesday, dollar sovereign bonds posted strong rallies. Particularly noteworthy were the improvements in the prices of the AL30 (+ 7.4%), AL38 (+ 6%) and AL41 (+ 5.6%) bonds.
For their part, the global ones stopped bleeding after eleven consecutive wheels in red. As a result, the weighted average price of the securities rose to $ 31.8.
These important increases were reflected in the Country Risk, measured by the JP Morgan bank, which fell 4.6% (85 units) to 1,827 basis points.
It should be remembered that securities in hard currency came from registering drops of up to 17.8% last month, with prices considered at default levels.
Source From: Ambito
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