“Negotiations with the IMF seem to be stalled and time is running out. The payments that the country must make in this first quarter of the year are unattainable and that hits the markets,” said a stock analyst.
The ADRs that led the rises were Pampa Energía (+1.4%), Grupo Galicia (+1%) Banco Macro (+1%). While the papers that fell the most were Mercado Libre (-3.7%), Edenor (-2.7%), and YPF (-1.9%).
In the local market, the largest increases in the leading panel were Transportadora de Gas del Norte (+2.6%), Cresud (+2.2%), and Pampa Energía (+2.1%). As for the biggest declines, Centra Puerto fell 1.9%, Banco Superville and YPF both lost 1.6%.
Argentine Foreign Minister Santiago Cafiero met Tuesday with US Secretary of State Antony Blinken and said he hoped to receive support from the United States in negotiations with the IMF, while Argentine Vice President Cristina Fernández criticized payments to the agency. saying they cost the country more than the Covid-19 pandemic.
bonuses
This day the sovereign bonds in foreign currency rose up to 4%. Sovereign dollar securities have fallen almost every day since the beginning of the year. Therefore, some assets such as the AL30 and AL35 bonares, or the global GD35, show parities below 30% (compared to the technical value at the time of issue).
“The weighted average price returned to the minimum levels after the restructuring. The indicator stood (on Tuesday) at US$30.73. The curve deepened its negative slope and the average rate exceeded 21% for the first time since the new titles”, deepened from Portfolio Personal Investments.
In this way, local bonds are among the riskiest on the planet, only behind Venezuela, Lebanon, Sri Lanka, and Zambia, although still far from the very high yields shown by the first two countries.
The collapse of Argentine titles occurs, on the one hand, due to the uncertainty surrounding the negotiations with the International Monetary Fund (IMF) due to differences in fiscal matters that still seem far from being remedied.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
