Economists predict market volatility due to Lacunza's arrival at the Treasury

Diego Martínez Burzaco, Chief Economist and Chief of MB Investments, considered that "the The market will focus on Lacunza's relations with the IMF and how he can handle a waiver after announcements made by President Macri that tend to deflect the budget goals from the deal. "

Burzaco does not think, however, that the last disbursement of 2019 doubted that the IMF "From 5.4 billion US dollars in September"but considered that "at most there will be a warning from the IMF", estimated at Télam.

"Those funds are essential to renew very short-term fundingor in cash and this is where the market will focus. And that has an impact on country and dollar risk, "he concluded.

In turn Leonardo Svirsky, Analyst of Bull Market Brokers, said that "In the markets, there will be a lot of uncertainty from now until October and this will continue with volatility, uncertainty, the market will be dangerous.".

The director of research for traders, Gustavo NeffaHe said: "The environment will continue to be very volatile. I'm expecting a negative market reaction to what happened yesterday with the ministerial replacement ".

"Dujovne was the link with the IMF and obviously all the IMF projects to maintain the budget figures suffered a major setback with the latest measures that have a very high tax cost, "he said.

However, he explained that "Lacunza has proved to be a very smart economy minister in the province of Buenos Aires and that the market sees him as a very experienced personality, a young friend of the markets. difficult to play in the future, two months ".

"Lacunza and (Guido) Sandleris, the president of the central bank, they were part of the team that worked with the IMF for the relationship to be fluidbut the latest measures discourage the government from complying with the fiscal situation and may need to take additional measures, "he said.

He badessed that "The market will be for the moment attentive to the evolution with the IMF.The dollar, the market will depend on the progress of the negotiation."

"The only thing that should be realized, in the very short term, is that the IMF confirms a technical visit for the last week of August and meets to negotiate technical details and possibly certain conditions for the disbursement of the mid-term. September", he said.

Finally, Santiago López Alfaro, partner of Delphos Investment, the investment consultant who predicted a difference of 10 points in favor of the Fernández-Fernández formula, ensured that volatility would be maintained: "We do not think a market recovery is starting.Now it's only for traders, only for specialists."

"Obligations are always in a bad technical position" He said, and as for the dollar, he expected that he would continue to be sued: "The power plant is working well, it raises rates and sells dollars, it must use dollars only to go into debt and work."

I consider that "Here, the most important thing is that on September 15, the IMF approves disbursement.There is a key for the future."