In finance, they bet that politics comes back to give confidence

"This dynamic is not sustainable." So, crudely, set last night in the corridors of the Ministry of Finance, the financial crisis on a hot day for Argentina. They pointed out in the setting that a volatility like that of the last few days in the market could not be maintained any longer. "People can not stay," lamented one manager.

The man near

Dujovne

The question was asked that everyone is asked. Argentina's badets are amortized by political, economic factors or both are already so complex that it becomes impossible to separate them? Do they come back? The trigger, no doubt, was the Isonomy study last Thursday, which increases the advantage that Kirchnerism brings to Cambiemos. "This shows the fragility that exists and shows that before the possibility that Cristina Kirchner is president, nobody wants to be close," he confirmed. "Maybe the market is convincing, we have to wait, I do not think so."

In this way, economic management will require political "catalysts" that rebadure the market. "We must reduce political uncertainties," said the official, despite the fact that the same government is polarizing with the former president. "These movements," said Minister Dujovne at a press conference Monday, "are linked to political uncertainty, the opposition does not present clear proposals and the market is not asking for change in economic policy ".

Yesterday, the Treasury did not find any economic reasons in recent days to explain the movements of mistrust with regard to the Argentine exchange rate and badets, especially after the government showed that it was the first time that the money was being held. it would take less dollars to correct the imbalances: there was more than $ 10 billion in budget surplus (exceeding the target set with the IMF) and more than $ 2 billion in trade balance in the first quarter.

Rumors of yesterday have indicated that some
distress funds (bond buyers) The Americans "came" to buy Argentine paper and improved the performance of their bonds. The government did not confirm it. However, yesterday, saved near the Finance Ministry, Lecap's call for bids, which provided for a "rate premium" for the rising dollar, was a "sign of the existence of the dollar." 39, a group ".
core of peso investors who like this type of business and prefer not to risk trying to leave. "

Neither Dujovne nor deputy minister Miguel Braun wanted to talk about the context yesterday. "We do not want to make any noise," said sources close to the afternoon. After his speech in front of the Cabinet Office yesterday, the lunch that the ministers organized on Friday in Olivos Near the minister in charge of coordination, they said that it was not about "fear" in markets or the "vicious circle" into which they had entered. They claimed that it would be necessary to restore confidence, credibility, that Macri will win the elections.

Then, it is understood that the person responsible for giving an explanation was the president. "Markets have a short-term vision and doubt about Argentina," Macri explained.