It is worth remembering that that day was the resignation of Máximo Kirchner as head of the ruling bloc in the Chamber of Deputies for disagreeing with the understanding reached with the IMF.
“Although we are moving away (at least for now) from the possibility of a break with the IMF, the political noise continues to put pressure on the local market,” said PPI analysts, noting that “in the meantime, Alberto Fernández’s passage through Russia and China leaves little to analyze.”
Prior to the decision of the La Cámpora referent, local titles had climbed up to 9.5% on Friday and up to 5% on Monday, due to the calm in expectations brought about by the rapprochement between Argentine officials and representatives of the multilateral organization of credit.
“Investors hope to be able to have more clarity about the state of the ruling coalition, which is crucial not only to manage the almost two years of mandate ahead but also to advance the principle of agreement with the IMF,” said the economist Gustavo Ber.
For his part, President Alberto Fernández said Thursday during his visit to Russia that the country must abandon its “dependence” on the US and the IMF.
Actions
The leading stock index BYMA’s S&P Merval yields 0.4%, to 87,772 points, for which it accumulates a contraction of 4% in the last three wheels. Previously, the benchmark had climbed more than 6% since Friday, after the announcement of the principle agreement with the Fund.
Meanwhile, Argentine stocks listed on Wall Street operate with disparity, with most losses in companies in the energy sector, and significant gains in the papers of technology firms, in line with the trend in international markets.
Source: Ambito
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