“The record of 132% of October 2020 no longer looks so far away,” said the stock company Portfolio Personal Inversiones.
Meanwhile, the CCL via the AL30 bond, one of the most liquid in the domestic market but with limits on the amounts that can be operated, advanced 1.4% to $232.36. In the case of the MEP dollar operated with the same title, its price shot up 3.2% to stand at $223.75, which is why it exceeds the blue and the spread with the official scored a new unprecedented record of 113.6% .
This Friday, US$731 million of the debt with the IMF expires. Until now, the country has complied with all its obligations, but in the last few hours there have been rumors that the payment in question could be postponed, since the Government would disburse the money only if the institution commanded by Kristalina Georgieva approaches the Argentine position.
In Casa Rosada they propose to reduce the fiscal deficit to 2.5% of GDP in 2022 to reach a zero deficit in 2026. Meanwhile, in the Fund they intend a greater cut in spending so that the “red” this year is 2 % and that the balance is achieved in 2025.
“Clearing the uncertainty and facing an at least light agreement that allows to postpone the bulky maturities is crucial in order to avoid accentuating the financial tensions, since said climate further complicates the dynamics of the current macro imbalances,” said a market source. .
For her part, the spokeswoman for the presidency, Gabriela Cerruti, did not give further details at the press conference and said that what will happen regarding the expiration of Friday “we will know in the next few hours.”
Both the President, Alberto Fernández, and his main officials in the economic cabinet, repeatedly cleared the possibility of a break in the talks with the Fund. However, other members of the governing coalition, such as Leopoldo Moreau or Claudio Lozano, affirmed that a default would not be as serious as it is proposed.
Given this fragility, the Executive Power asked China for an extension of more than US$3 billion in its bilateral currency swap in yuan to strengthen its reserves in the face of large and upcoming debt maturities, according to official sources confirmed to Ámbito. The issue will be discussed next week in Beijing when President Alberto Fernández travels there for the Olympic Games celebrations.
blue dollar
In the informal segment, meanwhile, the blue dollar climbed $1.50 this Thursday to the unprecedented $222.50, in a reduced business context but without vendors, operators commented. The price accumulates a rise of almost 7% so far in 2022 and the gap rose to 112.4%, the highest level since November 2020.
official dollar
Meanwhile, the official wholesale dollar rose seven cents to $104.77, and is heading to record a weekly rise similar to that of the previous week.
With a slightly higher traded volume compared to previous rounds, the US currency continued to trade again with a sustained tone but with little variation in prices under the strict regulation of the BCRA.
In the midst of uncertainty and exchange rate tension in parallel markets, the monetary authority had to sell u$s100 million to supply a demand that could not be covered by income from exports. It meant the highest net loss so far in 2020. In this way, the accumulated balance for January became negative, at US$35 million.
“The insufficiency of the genuine supply once again required official help. The usual increase in demand in the days before each end of the month impacts the market, forcing the monetary authority to cover the shortfall with sales of own resources,” Gustavo Quintana, from PR Corredores de Cambio, elaborated.
For its part, the savings dollar or solidarity dollar -retail plus tax- it rose 58 cents to $182.33. Thus, it was more than $40 behind the blue, the highest difference in 15 months.
Source From: Ambito
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