Alberto Fernández sends signals to Wall Street to calm markets

Former Deputy Minister of Economy Emmanuel Alvarez Agis has been talking with a circle of Wall Street investors to rebadure politicians that Alberto Fernández plans to implement in case of confirmation of your victory.

It appeared that there were at least two conference calls, one organized by the Brazilian investment bank BTG Pactual and another for XP Investments. On one side, investors and Wall Street badysts, on the other, Álvarez Agis – who speaks very good English – and clarified that "Neither Fernández nor Cristina Kirchner want a fault".

The economist promised a moderate government headed by Alberto Fernández, with concerns about his eventual administration, instead of real power and the room for maneuver he will have.

"Cristina Kirchner will not prevent a program of reforms or centrist policies," Alvarez Agis said.

The former deputy minister, who also made a public appearance during the week and paid tribute to the president of the Central Bank, Guido SandlerisHe said that Alberto Fernández, in addition to capturing voters outside of Kirchnerism, could also better manage the markets and make the necessary reforms within the Congress.

He added that renegotiation with the IMF should include an "effort" in structural reforms. Fernandez is willing, he said, to discuss a pension and work reform, although less aggressive than, for example, led by Jair Bolsonaro in Brazil..

The Todos Front candidate wants "micro" labor reforms focused on specific markets such as software – he has discussed this issue with the CEO of Mercado Libre. Marcos Galperin-, lithium, power generation or oil and gas, but not a "macro labor reform".

For Álvarez Agis, the biggest challenge is the debt to the Fund. The first step is to see how much he wants and how much he is willing to refinance the agency and then define future financing needs..

There is also concern that the Treasury is struggling to refinance short-term bonds, treasury bills or LETE bonds because of market panic. Alvarez Agis warned that if the fund kept the next round for about $ 5.4 billion, the economy could collapse..

The economist mentioned a possible increase in deductions to improve collection, and left the door open to set up a kind of capital control.

Unlike Macri, Alberto Fernández will seek to revive growth by putting more emphasis on demand than on supply. He emphasized the role of the Vaca Muerta deposit and said that Fernández would seek to give investors predictability.