Even without precision or the technical details that the market expects about how the exchange and sale of bonds in dollars from public bodies will be, the Vice Minister of Economy Gabriel Rubinstein came out to defend the operation on Twitter.
The official put together a thread of tweets in which he stated: "Today we begin to
deepen the bond market in local law dollars
, beginning with the
purchase of holdings of global bonds from public entities
, which will allow the foreign law public debt to be lowered (global ), at about $4 billion initially."
And he continued: "The State, without using BCRA (Central Bank) reserves, will continue rescuing and delisting global bonds, reducing foreign debt."
"On the other hand -he added-, the restrictions that investors have today to buy AL Bonds will be released and this new demand will be supplied by the MECON (Ministry of Economy) and BCRA, in coordination with market players".
According to his view, with these measures, "in a sustained manner,
the State will gain capacity to act in the financial dollar markets
, which will make it possible to avoid disruptive increases in the CCL and MEP, a key factor for the deployment of measures that strengthen the macroeconomic order ".
This Wednesday, the market did not receive well the decisions of the Ministry of Economy released on Tuesday.
Argentine bonds in dollars, which fell as much as 5% in the premarket on Wall Street, had cut their losses, but were still down as much as 3.7%.
Nor did the opposition like the measure.
From Lilita Carrió, to Gabriel Solano, passing through Martín Tetaz, they came out to criticize the measure that mainly forces Anses - which manages the money of retirees - to sell the bonds in dollars.
NE
look also
Public sector bond swap: keys to understanding what Sergio Massa is looking for and what the cons are
First reactions to Sergio Massa's announcements: dollar bonds plummet
