Country risk continues to rise | He shoots 3.5 …

The country risk index climbed today to 2180 basis points, with an increase of 218 units. This is the third increase, with 3.5%, more voluminous since the entry into force of the agreement with the IMF. Fund spokesman Gerry Rice confirmed Thursday that at the end of the month, he will receive Finance Minister Hernán Lacunza in Washington to advance "talks on the Argentine program". This slowness suggests that the next disbursement of the IMF will not happen before the elections. Without this disbursement, investors badume a default scenario and punish government securities for falls of up to 11%.

The most punished bonds meet the "D" emissions used to create the financial loop, namely buying a dollar bond and selling it in pesos to win with the difference and return to dollarization. The National Securities Commission has adjusted the regulations to lock in the cycle of financial cycling that savers use in particular. This led these bonds to achieve double digit losses until noon. During the first hours of operation, the dollar of MEPs also rose to reach 67.15 pesos (+ 3.5%) and the dollar with settlement settled at 70.23 pesos (3.7%). Another fact that underlies a country risk that remains at levels prior to 2001 is the JP Morgan report, which acknowledged "liquidity problems" after applying the exchange rate.

The dollar keeps the public stable at 58.41 pesos. In the wholesaler where banks operate for amounts greater than a million dollars, the currency started the morning with a slight increase of 10 cents. However, the presence of official bank sales delayed it and stopped at 56.19 pesos, nine cents more than the previous wheel. The plant organized before noon the first auction of seven-day liquidity letters and granted 53,824 million pesos at an annual interest rate of 84.5%. Two weeks ago, Finance Minister Hernán Lacunza announced a first selective default for this type of short-term debt, which he refinanced at six months. For its part, the MerVal panel increases by 0.9%.