Economists expect market volatility paying attention to IMF relations and disbursements – Telam

Economists and badysts hope that this week market volatility will persist because of the change of Minister of Finance. They are focusing on how the negotiation of the new Finance Minister, Hernán Lacunza, with the International Monetary Fund (IMF) will progress so that in September, pay out the remaining $ 5.4 billion of the deal.

Diego Martínez Burzaco, chief economist and director of MB Inversiones, said that "the deal will focus on Lacunza's relationship with the IMF and how he can handle a waiver after the announcements made by President (Mauricio) Macri. – divert the fiscal objectives from the agreement ".

He felt that he did not think this diversion was calling into question the Fund's last $ 5.4 billion payment in September of this year, "but felt that it" would be at most an IMF warning, "said Martinez Burzaco during a dialogue with Telam.

"These funds are essential for renewing very short-term financing in the Treasury and this is where the market will focus." "And that has an impact on country and dollar risk," concluded Martínez Burzaco.

For its part, Leonardo Svirsky, an badyst at Bull Market Brokers, predicted that "in the markets, there will be a lot of uncertainty from now until October and that it will continue with volatility, The market will be dangerous, "he said.

The director of research for traders, Gustavo Neffa, agreed that "the environment will remain very volatile.I am expecting a negative market reaction to what happened yesterday with the company. 39, ministerial exchange ".

Neffa explained to Telam that this bad reaction was due to the fact that "(Nicolás) Dujovne was the link with the IMF and that all IMF plans to maintain the budget figures have a significant setback with the latest measures that have a cost very high budget ".

"Lacunza has turned out to be a very smart economics minister in the province of Buenos Aires and the market sees him as a very experienced personality, a young friend of the markets.He will have a very difficult role to play for the next two months, "he said. .

On the other hand, he enjoyed Sergio Mbada's trip to New York, looking for links with the (Donald) Trump administration. "

In addition, an badyst at one of the major local market companies told Telam that "the closest and most immediate challenge for Lacunza as a minister is to see what is the relationship with the IMF".