After strong political noises derived from a scandal that involved To President Javier Milei for promoting an unknown Cryptocurrency $ Librathe markets traveled the day on Monday, February 24 with great volatility and all eyes are put in the country’s negotiations with International Monetary Fund (IMF). He S&P Merval fell after ripping down, just like The debt in dollars and the country risk It broke a new maximum of 2025.
Milei returned on the eve of a trip to the United States where he met with The IMF managing director, Kristalina Georgievawith the US president Donald Trump during the Conservative Political Action Conference (CPAC)with the tycoon Elon Musk that leads to the US government efficiency department, plus officials of the IDB and of World Bank.
He S&P Merval The rise day began, with an advance of the 1.6%but then change of trend and operated on negative terrain, which means that volatility still weighs in operations.
In this way, the selective bya fell 0.7% to 2,348,398.47 points. The actions that fell in this context were those of: Metrogas (-3.1%), Ternium (-2.6%), Passener (-2.4%), Macro Bank (-23%), Edenor (-2%) and Silver Commercial Society (-2%).
In the month, the leading index of Byma Write down a fall from 8.4% in pesos and 10.5% In dollars. This is the first decline since September in the local currency and in seven months in foreign currency (July).
The Argentine actions that operate in Wall Street They lose until 3.3%headed by South gas transporterfollowed by BBVA (-2.4%), Black Loma (-2.4%), IRSA (2%), Macro Bank (-1.9%) e YPF (-1.8%).
Bonds in dollars and country risk
The Bonds in dollarswhich started upwards in the foreign square, fell into the local square, while the country risk rose to the 730 points (+10 units)according to the measurement of JP Morganafter having broken the 700 barrier by the scandal with $ Pound.
Thus, the roles that lower were the Global 2029 (-1.3%), the Bonar 2041 (-1%), the Global 2041 (-0.8%) and the Bonar 2038 (-0.6%).
“While we believe that the funds that arrive from the IMF before a new program will not be freely availabilityand perhaps require some modification in exchange restrictions, we do consider that a positive impact for investors will be, endorsing the government program, “said the consultant Invecq.
For its part, to GMA Capital Research, The closest catalyst would be the agreement with the IMF. “The expectation revolves around a program that would allow the treasure to buy uncomprofitable letters in the hands of the Central Bank (BCRA), today valued at 23,000 million dollars. The number seems high, so the agreement could represent a fraction of a fraction of This figure, together with the launch of a new monetary-chart scheme, “they said.
“The situation (on the crypto scandal) will be investigated and, for the moment, there was no adverse impact on the image of Milei, at least on the opinion of opinion we accessed,” said the SBS group.
Finally, from Delphos They added that “in a favorable macroeconomic context and with encouraging perspectives, sovereign debt (Argentina) continues to perform in line with the most risky credits, even when the international environment has evolved better than expected.”
Source: Ambito
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