2023-05-26 14:43:00
April had the highest monthly inflation in 21 years. The year-on-year, meanwhile, had only registered higher marks more than 30 years ago. The path of price increases makes the pesos burn and the Argentines look for ways to cover themselves. From the purchase of dollars and the subscription to fixed terms adjusted for inflation to the most varied products, any option looks more or less interesting as a safeguard against the loss of value of the peso.
The deputy director of the Institute of Economic Research of the Córdoba Stock Exchange, Fabio Ventre, said that the main problem that the country has is that it suffers from a low saving capacity. According to a survey to measure financial capacities carried out by the CAF-Development Bank of Latin America, in 2017 only 29% of Argentines saved, when in other countries, such as Ecuador or Colombia, the percentage rose to 90%.
And not only is little saved, but it would be badly saved, according to the economist. “More than half of Argentines -58%- save in the same home, which is called savings under the mattress. In a country with inflation, it may be one of the worst ways to save, even if it is done in dollars, because you would be losing out in the face of the growing inflation that the United States had,” he explained. Beyond this, he said that, between all Argentines, only 12% save in foreign currency.
Much more representative are deposits, whether fixed-term or not. 37% of Argentines save that way.
Finally, following Ventre, only one 3% of Argentines save by buying properties and a 2% through mutual funds, bonds, etc. which would be explained by a low financial education, even in the regional comparison.
For his part, the economic and market analyst Salvador Di Stefano said that historically Argentines took refuge from inflation through the purchase of billet dollars or properties.
“In Argentina there is no successful experience of the capital market because you had many debt restructurings, companies that melted, shares that disappeared and confiscations of fixed terms, with which the lack of legal security led Argentines to go for the bricks or the chest,” he said. And he added that the trend that was added in recent times is to have property and money outside of Argentina.
“Argentina is a dormitory country. Many only sleep here, but have their savings and spend abroad. What’s more: Argentines have saved more than US$200,000 million banknote dollars. Outside the United States, it is the second country that handles the most dollars, ”he added.
Meanwhile, from a more current and plain perspective, the economic analyst Damián Di Pace postulated that almost anything you can buy serves as a hedge against inflation.
Among his favorite investments are dollar, he oro, comprar autos, technology (notebook o smartphones), non-perishable food, stocks (energy, above all), bonds, whiskey, perfumes and get into debt with subsidized credits. He says that not only now 12 represents an opportunity, but there is working capital loans with a subsidized rate of 67%.
“We could say that this would be my portfolio and the composition would be 60% with all dollarized assets and in the remaining 40% all pesified assets, such as food and credits,” concluded.
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