“The endless negotiations both internally with the opposition and externally with the IMF authorities show that the government is still on a winding road to avoid default,” said Fernando Staropoli, of Rava Bursátil.
The Argentine Foreign Minister, Santiago Cafiero, will meet this Tuesday with the Secretary of the Department of State of the United States, Antony Blinken, in the framework of the negotiations with the IMF.
in the last hours The meeting that the Minister of Economy, Martín Guzmán, was going to hold this Tuesday with governors and heads of the opposition bloc was suspended. The meeting that had been announced last week was intended to communicate the status of the negotiations with the IMF.
“A volatile market is expected in the coming weeks, especially without rumors of a rapprochement between the Government and the IMF”, estimated Personal Investment portfolio. “The vision of some analysts about differences between the two parties that are difficult to reconcile for March has been hitting the valuation of Argentine assets in both local and foreign panels,” he added.
In the first quarter of 2022, the country will have to pay around 4,000 million dollars to the IMF and another 2,000 million dollars to the Paris Club due in March.
For its part, the consulting firm Delphos Investment estimated that “The negotiations will have to have a significant dose of pragmatism to reach an agreement before the maturities of 2.8 billion dollars on March 21 and 22.”
In this context, the chancellor santiago cafiero will meet this Tuesday with the secretary of the United States Department of State, Antony Blink, within the framework of the negotiations that Argentina is carrying out with the IMF.
The financial markets of the United States remained closed due to the commemoration of Martin Luther King Day.
bonuses
On Monday, the bonds denominated in dollars did not stop falling and lost this Monday up to more than 2%, affected by the public differences between the Government and the IMF. Among the main losses of the day, the Bonar 2041 (-2.1%) stood out; Global 2041 (-1.8%); and Global 2038 (-1.3%).
“Sovereign bonds in dollars have already lost almost 10% on average at the start of 2021. These are reflecting the combination of few reserves with uncertainty about the negotiation with the IMF, worse prospects about the harvest, and an external context where the major central banks are shifting towards less loose monetary policies,” commented Roberto Geretto of Fundcorp.
The sovereign securities in dollars fell in all rounds of the year, with the exception of last Wednesday, when they closed mixed.
In the segment in pesos, bonds linked to inflation registered increases of up to 3.4% (Quasipar), after knowing last week the inflation data for December (3.8%) and for all of 2021 (50.9%). ). In the month these titles accumulate rises of up to 8.1%.
“After the last CPI of December, and given the growing inflationary expectations, the CER debt does not loosen”, they commented in the market.
For its part, the dollar-linked sovereign debt traded mixed, with demand in the short tranche (TV22, T2V2) and offered in the long tranche (TV23).
In this context, the Argentine Country Risk closed on Friday at 1,882 basis points, the highest in a month and a half, after accumulating a rise of 10.8% in the first two weeks of the year.
Source From: Ambito
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