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.
“Yesterday in a note with a local media, Sergio Chodos admitted that one of the points that the IMF is looking at carefully is the approval or not of the agreement in Congress. This gives another dimension to the statements made by parts of the ruling party this week and the subsequent statements by the opposition stating that they could not support something that not even the ruling party seems to agree with. However, the latter have issued a statement in which they again recognize the importance of an agreement with the fund,” said the Research & Strategy Team of the Inviu investment platform.
The managing director of the multilateral credit organization said that the agreement with Argentina on a new loan is “pragmatic” and that it aims to deal with the most significant structural problems in the country, although the details of the program are still being developed and hard work remains to be done. ahead in the coming weeks.
For his part, President Alberto Fernández said Thursday during his visit to Russia that the country must abandon its “dependence” on the US and on the institution led by Kristalina Georgieva today.
“Our base scenario is that Argentina will sign an agreement that will incorporate multi-year objectives aimed at reducing macroeconomic imbalances, but that compliance with the agreement will be irregular in the best of cases, and will require resignations and renegotiation of objectives,” estimated the rating agency. Moody’s in a report.
Prior to the decision of the referent of La Cámpora, 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 Fund.
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The leading stock index BYMA’s S&P Merval yielded 0.2% this Friday, to 87,934 points, for which it accumulates a contraction of almost 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 shares listed on Wall Street traded unevenly, 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.
On the New York Stock Exchange, technology shares flew up to 50%, after the sharp falls they had seen in the previous days, dragged down by the collapse of Meta, the parent company of Facebook, after its poor results in the fourth quarter of 2021 .
Amazon assets jumped 12% after sales at its cloud computing business beat Wall Street estimates and the company raised the price of Amazon Prime subscriptions, easing some concerns about the impact of cost increases. in profitability.
Source: Ambito
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