He blue dollar fell 15 pesos and stood at 1230 pesos. Something similar happened with financial dollars such as cash with settlement, which fell 1 percent, ending at 1,183 pesos. However, the shares of the Buenos Aires stock market did not follow the climate of the exchange market and lost up to almost 2 percent. The fall was also observed in Argentine stocks listed in New York. The Central Bank bought foreign currency in the exchange market and the government made it known that it will have external financing to open exchange controls at the beginning of next year.
Meanwhile, the Minister of Economy, Luis Caputo, traveled to the United States to meet with officials from the International Monetary Fund, World Bank and other international organizations. In the context of this trip, he received an award linked to the first months of his administration, in which he applied an extraordinary adjustment.
The official social media account of the Ministry of Economy announced the details of the award: “Luis Caputo received the award for Finance Minister of the year in Washington granted by LatinFinance.” An award that clearly does not take into account the social and distributive impact generated by the government’s recessive policies in recent months.
In the Ministry of Economy they indicated that Caputo’s recognition was due to “the measures implemented to organize the Argentine economy”. For his part, the official was forceful and exclaimed: “We have no doubt that this time Argentina will rise.” In detail, the head of the Palacio de Hacienda received the award in the middle of a breakfast organized in downtown Washington.
The meeting was attended by analysts, lawyers, bankers and lobbyists who are part of the IMF and the World Bank. Precisely this last international organization revealed in recent days that it will disburse 2 billion dollars for social and educational projects in Argentina.
From the World Bank they indicated that “there was a very good meeting with Luis Caputo. The World Bank is ready to accompany Argentina with more than 2 billion in new loans in the areas of social protection and education and to support the poorest in their access to transportation and energy,” said Jaramillo, the vice president of the WB. for Latin America and the Caribbean.
He government is excited about getting new financing in the coming months for a figure of up to 20 billion dollars, let it transcend the market, along with speculation that exchange controls could be opened in the first months of next year.
Despite speculation about the arrival of new fresh debt dollars, which would allow us to reinforce reserves and meet external debt maturities, the sovereign bonds and stocks had a day of new falls.
In detail, public securities extended their decline for the third consecutive day. In the previous day they fell up to 1.5 percent, in the midst of an adverse global context, marked by the rise in rates of United States Treasury securities. In this context, the Argentine country risk rose to 1103 points. The sovereign securities that fell the most were Global 2029 (-1.3 percent), Bonar 2029 (-1.2 percent), Global 2035 and Bonar 2041 (-1 percent).
“For a week now, bonds have been trending flat or slightly down, and it is not just the Argentine bonds, but also the emerging markets in general, given that the 10-year US Treasury bond rate is at increase in the last five days, reaching a maximum of 4.20% now,” explained Rafael Di Giorno, director of Proficio Investment.
