The possible agreement with the credit agency, which includes a multi-year macroeconomic plan to be approved by Congress, It will be positive to the extent that the country complies with this commitment in a timely manner, Credit rating agency Moody’s said.
“The Government seems to have made the decision to accelerate the process to reach an agreement with the IMF. The lack of reserves in the BCRA hastened the decision in the face of a hard summer in foreign exchange matters,” said consulting firm Delphos Investment.
Added that “the bureaucratic process does not seem to coincide with the times that transcend from the Government, with an intention to fix before the end of the year (…) The key point is not so much the agreement -which will arrive sooner or later- but the content of the itself, since it is perhaps the last resort to try to refloat the depressed confidence of the local economic agents “.
Officials from the Ministry of Economy and the Central Bank (BCRA) will travel to Washington on Saturday to hold meetings with IMF technical staff to seek to renegotiate some 45,000 million dollars.
In fixed income, sovereign dollar bonds were unchanged, after a strong rebound the day before, due to the significant fall in November.
In this framework, the Risk country -that measured by bank JP.Morgan- also it moved almost unchanged in the area of 1,827 basis points, versus its all-time high of slightly above 1,900 units on Monday and a start at 1,820 in September 2020.
Source From: Ambito
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