© Archyde.com / AGUSTIN MARCARIAN
Facade of the central bank of Argentina, in Buenos Aires
BUENOS AIRES, Jan 3 (Archyde.com) – The Argentine stock market rose on Monday in time with national companies listed in New York, while bonds also gained ground and investors expect progress in the government’s negotiations with the International Monetary Fund ( IMF) to solve a debt impossible to face in the short term.
The third largest economy in Latin America must pay about 45,000 million to the multinational organization, but it seeks to increase the amortization and the interest rate that has no way to meet the commitments.
In this first quarter of the year, the Government will have to pay around 4,000 million dollars to the IMF and another 2,000 million to the Paris Club, so specialists speculate with an agreement before March.
“Within the framework of an agreement with the IMF, economic policy should implement certain turns, such as tracing a path of fiscal consolidation or avoiding deepening the exchange rate delay to protect the reserves” of the central bank (BCRA), estimated the consulting firm Ecolatina.
The market is also waiting for signs of a delayed “multi-year” economic plan in the face of exchange rate pressures, lack of reserves in the BCRA, annualized inflation above 50% and a complex fiscal deficit, in the context of a growing third wave of the pandemic of COVID-19.
Financial activity in the country resumed after the inactivity on Friday for New Year’s Eve.
* The S&P Merval index of the Buenos Aires stock exchange gained 2.49% to 85,579.11 units as a provisional close, after advancing 5.28% in December and climbing 63% last year, slightly above inflation. greater than 50%.
* Among the actions, the increase in the state oil company YPF stood out with 6.82%, while on Wall Street the Argentine papers advanced together above 5%.
* OTC bonds reversed course mid-round and rose 0.5% on average, with JP.Morgan bank’s country risk recovering 22 points, to 1,710 basis points around 2000 GMT, after increasing 23 , 6% during the previous year.
* The wholesale peso fell 0.26%, to 103.00 / 103.01 per dollar, with a fundamental role of the BCRA given its permanent intervention, to close the day with the recovery of about 5 million dollars, traders said.
* The monetary authority has just finished 2021 with a peso weakened by 18.1% and a buyer balance of about 5,100 million dollars.
* Settlements for exports of grains and their derivatives from Argentina totaled 32,807.9 million dollars in 2021, a record since the beginning of this century, said the Chamber of the Oil Industry of Argentina (CIARA) and the Cereal Exporters Center ( CEC).
* In the alternative exchange segments, the “counted with liquidation” stock market (CCL) yielded to 208.2 units and the “MEP dollar” fell to 198.7 pesos, while the “blue” rose to 206 units, after the record low of 210 per dollar the week before.
(Reporting by Jorge Otaola; Edited by Maximilian Heath)