Foreign investors take commitment to Argentina: the two signals waiting

Unlike what happened during the first stage of the Government of Mauricio Macri, when International investors quickly bet on Argentina now, in the management of Javier Milei, they are taking some timeprobably until after the October elections.

Thus they coincided Lucas Laines, CEO of Puente; Matías Creamchi, Head of Investments of Delta Asset and Matías Peralta, director of the ST, within the framework of 19 capital market symposium organized by The Argentine Institute of Finance Executives (IAEF) that took place in Puerto Madero.

There they detailed some of the most important points that the capital market is seeing for 2025, A year marked by national elections. Potential investors, both local and foreign, have reached a point where they expect new signs, with attention focused on an agreement with the IMF

In bridge they expect the agreement with the IMF

In Lucas’s analysis Laines, of Puente, “The International Investor Look much more at the numbers and the road and is much less soaked than what happens to the Argentinesit is more pragmatic and looks at the ability to pay. ”

Also considered that the projects of the Incentive regime to large investments (Rigi) will cause a positive effect on the capital market, to the extent that they advance in time.

In relation to the local investor, he stated that in 2024 “There was a lot of retail demand in dollars with rates from 6.5% to 8%. That year there was a lot of hard dollar demand unlike 2023 that there was a lot of demand for dollar Linked. There is A market that is being recomposed. The agreement with EThe fund is an important part But you have to continue working, ”he said.

For Delta the great players will take long to arrive

For its side, Matías Creamchi, from Delta, said that a scenario like last year in financial matters “is unrepeatable” because he understands that “anxiety began to operate on what the program can be with the background.”

“This is a market that needs signals regarding the agreement with the IMF, and how it follows The disinflation process. The small print of the agreement will define the course of the short -term market ”said Creamschi, who said that “the government is not going to embark on an agreement that involves a discreet jump of the exchange rate.”

In relation to foreign investors, he said that “What happened in the last year aroused interest” on Argentina. “We see, more than anything, Hedge Funds, and I think For large international investors you have to wait for more time for normalization ”, He said.

“We are in a moment of uncertainty. We have received More consultations about when they re -enter than when to throw in the towel and leave. Today the international investor is less worried than the place, ”he explained.

For G Grupo St, at another time foreigners would have already entered

Meanwhile, Matías Peralta, of St, considered that “clearly The chapter that follows the market is the agreement with EN IMI ”. “If the agreement is, we understand that it reaches to reach the next mojón and overcome the elections ”, explained.

In that sense, he said that although “The international investor is interesting “in Argentina” there is still no flow of investment decisions. ”

“I think they are waiting to see what Argentines do with the decisions we make. I think There is a ‘wait and see’ of the electoral path to see if there is revalidation ”, held.

The manager of G Grupo said that “there are many people looking at Argentina but thinking about the time to re -enter” And warned that “In another era they would have already entered “. “Now he says that He prefers to wait, to leave the first pesos to win another ”, Peralta explained, who said that like financial investments, which aspire to enter a Rigi project are waiting to see what Argentines do. ”