First, it was reported that the Finance Secretariat will incorporate, in the Public Title Tender School for 2025, the direct subscription modality in dollarswith a monthly limit of US $1 billion.
Then, the BCRA announced that It will broadcast the 4 Breopdestined to entities with external obligations related to debts or dividends prior to 2025, and commercial debts prior to December 12, 2023.
In parallel, the organism that leads Santiago Bausili ruled the end of the Lefis (fiscal liquidity letters), which is They will redeem with the existing short -term leaf stock. In this way, The reference rate will become the curve of capitalization letters.
“These measures aim to consolidate reservations, anchor expectations and allow a more predictable monetary policy. If they are executed with discipline, they create a safer framework for investors and companies, paving the way to stabilize the economy and foster reactivation“He summarized Martín d’Odoricodirector of Capital Guardian.
What to do as investors after BCRA and economy ads?
The modifications promise to mark a relevant change in the Argentine debt segmentboth in pesos and in dollars, and with instruments of Fixed and variable ratesince they expand the Investment options range.
According to Mariano Monferiniindependent financial analyst and advisor, The Argentine conservative investor should be kept in hard currencyespecially in an election year. In that sense, he recommended sovereign bonds in dollars like the BONAR 2030 (AL30)that They yield about 12% in dollars.
On the other hand, for those who prefer to continue in pesos because they believe that the exchange rate will remain stablethe expert suggests opting for Bonuses Cer with expiration in 2026which offer a Real return of 10%approximately.
“As for the fixed rate in pesos, if I had to choose between 30% in pesos or 12% in dollars, today I would be inclined to dollar yield, at least until I have more clarity about the post -election landscape”He clarified.
For its part, the financial planner Fernando Villar He pointed out that Long bonuses at fixed rate They will come out Very benefited After the measures of the BCRA, since The rates would tend to go down in the future.
“A person is inverted with a rate that is surely real positive for a prolonged period of time”He said.
He also said that Hard Dollar bonds They also represent one Good alternativesince the government would have greater capacity to capture currencies in the market and, therefore, Greater payment capacity. “Prices should upload, rates down, compress …”Villar concluded.
Source: Ambito
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