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The financial conditions of the Argentine economy suffered in June from the biggest monthly decline since Mauricio Macri is president and they entered the " stress zone " for the first time since January 2016, according to a report released today by the Argentine Institute of CFOs (IAEF).
According to the work – conducted by the IAEF and the consultant Econviews – the fall was a consequence of the devaluation ] inflation, interest rates and long-term liquidity .
"We have to go back to 2012, that is to say to the months after the exchange rate came into effect to find the conditions outside the local economy were also deteriorated in June, mainly due to an increase in emerging and European risks and a greater volatility of futures contracts. "
Mirá also [19659008] Transener and Petrobras Brasil record the other most important losses. Bonds, PBI coupons and ADRs also adjust positions.
Therefore, the entity pointed out that the deterioration of local and external conditions, has dropped the index of financial conditions (ICF) in June by 21.2 points, the third largest decline of the last 1945 years (19459003) thus accumulating five consecutive monthly falls.
The ICF is 53.2 points lower than a year ago, with annual declines explained by a 40.2 point drop in local conditions and 12.8 points L & L. IAEF
According to the report, nine of the ten variables that make up the local index have worsened, highlighting the expected devaluation, inflation and the interest rate, which has entered in the area of "severe stress".
which showed a monthly improvement confidence in banks due to a rebound in dollar deposits. For IAEA, the deterioration of local financial conditions over the last two months "has not been more significant because of a noticeable improvement in short-term liquidity, which is a product of the monetary crisis ".
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