The head of the Buenos Aires Stock Exchange spoke about the meeting that the “Group of 6” held with President Javier Milei. He evaluated the economic situation.
The euphoria in the Buenos Aires stock market does not stop. The stock index of Bolsas y Mercados Argentinos (BYMA), the S&P Merval, has risen more than 30% (+34.5%) so far this year, despite presenting a February that was more red than green for stocks of the leading panel. Meanwhile, bonds continue their bullish rally, the country risk is falling and pierces 1,500 points, to hit a 3-year low (February 2021).
Argentine News
The head of the Buenos Aires Stock Exchange, Adelmo Gabbi, revealed details of the meeting that representatives of the so-called “Group of 6”which brings together the most powerful businessmen in the country, with the president Javier Milei, who told them the date on which the Government will lift the stocks on the dollar.
“It was a relaxed meeting in which we spoke with absolute clarity,” Gabbi explained. They also participated in the meeting Daniel Funes from Riojafrom the Argentine Industrial Union (UIA); Gustavo Weiss, of the Argentine Chamber of Construction (Camarco); Nicolas Pino, of the Argentine Rural Society; Mario Grinman, of the Argentine Chamber of Commerce and Services (CAC), and Jorge Brito, representing the Association of Argentine Banks (Adeba), owner of Banco Macro.
“The one that is doing the best is the Stock Market, because it works with expectations, and the expectations are favorable. We have a country risk that has decreased significantly, public securities that rise every day, there are international interested parties interested in investing in Argentina, we are in a good moment, but in general, the President gave an optimistic image and said that they were doing things much faster than thought. It was an excellent meeting,” Gabbi said about the situation that businessmen are going through.
The euphoria in the Buenos Aires stock market does not stop. The stock index of Bolsas y Mercados Argentinos (BYMA), the S&P Merval, has risen more than 30% (+34.5%) so far this year, despite presenting a February that was more red than green for stocks of the leading panel. Meanwhile, bonds continue their bullish rally, the country risk is falling and pierces 1,500 points, to hit a 3-year low (February 2021).
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Likewise, he added that “if you look at what it was like in September, October, November of last year, the expectations were terrible, now the expectations are much better. If we start from there things are much better, I am optimistic and I think we will be better in the short term.”
“It will come when we get out of the stocks, which is a fundamental stop for the growth of the country. When we leave the country has great possibilities. Milei said that in May we did not have any more stocks,” she said when asked on Miter radio about when economic growth will begin.
Source: Ambito
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