The rises in Argentine paper were led by Pampa Energía (+8.5%); IRSA (+6.9%); IRSA Commercial Properties (+6.8%); South Gas Carrier (+4.9%); and Loma Negra (+4.1%).
Meanwhile, BYMA’s S&P Merval index it gained 0.9%, to 88,383 points, sustained by the improvement recorded in energy actions. The leading panel comes from rising 8.9% in January encouraged by the announcement of the understanding with the IMF.
Because the recent resignation of Máximo Kirchner as head of the ruling bloc in the Chamber of Deputies raised several doubts about the necessary legislative endorsement.
“Despite the jerks, investors still anticipate that parliamentary validation would finally be achieved, although even then there will still be a long way to go to meet the fiscal and monetary goals, which represents a challenge and will also require political support. “, said Gustavo Ber, economist at Estudio Ber.
“Showing progress is necessary to open space for a climate of greater calm among economic agents, and thus extend the recent respite in financial tensions, as well as keep activity going,” he added.
IMF spokesman, Gerry Rice, said on Thursday that the body seeks to reach an agreement with Argentina “as quickly as possible”, while pointing out that there is no defined date for the arrival of a mission from the organization to the country.
In the fixed income segment, bonds in dollars operated with most losses that, in some cases, reached 1.7% (Bonar 2029).
Facing it, the country risk rose 0.5% to 1,784 pointsafter reaching 1,790, the highest since January 27, one day before the announcement of the principle agreement for the debt between Argentina and the IMF.
Source: Ambito
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