Investors were also waiting for the evolution of COVID-19 after the first case of the omicron variant was detected in the southern country in a person from South Africa.
“We believe that the agreement at the staff level (IMF) could be announced after the agency reviews the” autopsy “of the previous agreement with Argentina in the week of December 20,” estimated consulting firm Delphos Investment.
“Considering realistic deadlines, the approval of the Argentine Congress would be delayed a few more weeks and the ratification by the IMF Board could occur in mid-February,” he added.
Bonds and country risk
Sovereign bonds in the over-the-counter segment gained 0.2% on average, after accumulating a 2.9% improvement last week due to taking positions awaiting news.
The Country Risk measured by the JP bank. Morgan fell eight units to 1,771 units, maintaining minimum levels of the last 15 days, after surpassing the psychological level of 1,900 units last Monday.
“After the country risk reached 1900 points, sovereign bonds rebounded, driven by the trip of officials to meet at a technical level with the IMF,” said Roberto Geretto, an economist at Fundcorp.
“It is difficult to know how far the rebound can go, but it is highly unlikely that it will be a turnaround,” he said.
Source From: Ambito
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