During this week there were a few news regarding the theme of Bruta International Reservations of BCRA. The first, in principle, was to ratify that the IMP He had postponed the quarterly review that corresponded to Friday, June 13, on July 31, but already on Wednesday 11 at the last minute the same fund communicated that she would be fulfilled to June 30, advancing her 30 days.
In communication too confirmed that there are no more fresh funds for the country, consequence of having to grant a triple waiver/forgiveness corresponding to the following concepts:
Based on this, the only alternative that would have the person in charge of Economics would beEnegociar the original creditas did in August 2018.
The second novelty is directly that before that communication was, in addition to closing the repo with international banks for US $ 2,000 million, it was Create a monthly line of bontes until December for US $1 billion each in the same conditions as the one previously created with a first tender the short week from June 17 to 19.
The third is that The repo closed on Wednesday and Friday, June 13, those US $ 2,000 million entered international reserves But the only reality is that that same day 161 million reserves were lost by entering only 1,839 million. Although as additional a communication was received from the USA complaining for having incorporated in the repo 2 Chinese banks being very badly stopped it.
Attentive to these novelties The market reaction ended up being a very gray Friday, and not because of the weather, but because all the values of the exchange rates were increased –Salvo Blue and official- this data arriving until returning to its initial level (around 680 basic points) of the week of the country risk that had decreased to 655.
Consequently, we can say that The conviction of the president of the main opposition political party ended up turning the government’s financial plays, Therefore, what began well ended very badly by showing the opposition its political muscle and the waiting for posts post failure with the circumstances that subsequently occurred until the very Friday.
Source: Ambito
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