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"It does not take long the markets were in Argentina. The currency was falling, inflation was skyrocketing and stocks were going nowhere, while concerns grew about the country's ability to resist the charm of its past populist politics, "he said.
But he pointed out that the announcement of central bank end of April, which no longer allowed the peso to float freely in a designated band, combined with more optimistic economic data, led investors to "change your mind quickly".
In a note entitled "Argentine signals attract investors"The publication points out that the markets are returning" after the defeat of the beginning of the year. "The article ensures that inflation should slow down and fall by the end of the year. ;year.
He argues that investors are comfortable with the changing contexts of the presidential race: "Macri recently announced a change of political center with the election of Miguel Ángel Pichetto, the leader of the majority Peronist in the Senate, aged 68, is his candidate for vice-presidency. "
"By broadening its electoral appeal, Macri hopes to increase its popularity, which has collapsed due to the growing poverty rate and strict austerity measures put in place by the government to rid the country of its financial imbalances. "said the newspaper. in international financial circles.
He also badyzes the candidacy for vice-presidency Cristina Kirchner: he argues that it was a "surprise" not to run as a presidential candidate and to put the former chief of staff, the "most moderate" Alberto Fernández, in this place.
The note signals the "dangers" that could lead to Kirchner's return to power in Argentina. This is what emerges from the testimony of an investor who warns against the triumph of the duo Fernandez-Fernandez.
It's Jan Dehn, head of research at Ashmore, London-based investment manager, who closes the note and declares: "Peronism will take life in Argentina and a default will be seen." " If the coalition with her (Cristina Kirchner) wins, the stock price will fall ".
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