03/25/2021 10:09
Clarín.com
Economy
Updated 03/25/2021 10:26 AM
Argentine bonds, which had been recovering, are reacting more to the statements of Cristina Kirchner - who said on Wednesday that
the debt cannot be paid -
than to the possibility that the IMF will draw more than US $ 4 billion and the minister's efforts Martín Guzmán in Washington.
The titles that are listed on Wall Street fell more than 2% and this Thursday in the premarket they return to the red, with a decrease of 0.30% for those nominated in dollars with foreign law.
On Wednesday the country risk rose 0.8%, to 1,574 points, 52 units more than the previous day.
All this while the Minister of Economy fulfills his mission in Washington
, where he met with the head of the IMF, Kristalina Georgieva, Fund technicians and Treasury officials.
In a ceremony in the Buenos Aires town of Las Flores, Cristina Kirchner assured that
"we cannot pay the debt because we do not have the money
.
"
Among other things, the vice president stated that
"with the terms and with the rates that are intended, it is not only unacceptable
.
"
The immediate effect of his words was reflected in the New York Stock Exchange.
There, the shares of local companies listed on Wall Street fell even above 7% this Wednesday.
In Argentina, there were no markets due to the Memorial Day holiday there was no activity in Argentina.
Cristina Kirchner's position was made public almost simultaneously with the virtual meeting that the President had with the head of the World Bank, David Malpass, and a day after Martín Guzmán held a meeting with the head of the Fund.
Both agreed to the international organizations to pay
.
The Government intends to reach an agreement with the IMF to
reschedule the maturities of the capital debt for around US $ 45,000 million.
Yesterday, Argentine bonds listed on Wall Street closed lower: Global 2030 and 2035 fell 2.3%, while Global 2029 lost 2.9%.
ADRs continued to decline, as happened the previous day.
Papers from the banking sector were the ADRs with the greatest decline: the Supervielle lost -7.3%;
the Macro, -3.6%;
BBVA, -3.1%, and Grupo Financiero Galicia, -2.9%.
But Despegar's ADRs also fell -6.1%;
those of Mercado Libre, -4.1%, and those of Cresud, -3.8%.
The only ones that increased their jurisdiction: Tenaris, 2.8%, and Ternium, 2.3%, as a consequence of the rise in the price of oil.
But even in this context, YPF fell by -2.4%.
With the reopening of the local market, we will have to be attentive to see if the repercussions of what Cristina said this Thursday maintains the tension on the markets.
YN
Look also
Cristina no longer hides her differences with Guzmán over the debt and demands a more aggressive negotiation
Martín Guzmán went through the United States Treasury and the Economy remained silent
