Lopez Murphy warned of the country's risk increase

The former Minister of Economy, under the presidency of Fernando de la Rua, Ricardo Lopez Murphy, estimated today that "the increase in country risk is very bad news because it marks the negative reaction of the markets to the announcement of the government ".

The country risk, which measures the bank JP Morgan, rose 3.9% yesterday and stood at 854 basis points after the announcement of the economic measures of the national executive. Lopez Murphy warned that "the country risk is the center of concern" more complicated than we have and we must pay attention.

The economist, who ran the Treasury's portfolio for only 15 days in 2001 after announcing a budget adjustment plan, criticized the leadership of President Mauricio Macri because "it was not possible for a program that finances a deficit with debt to succeed ", in dialogue with FM Futurock.

On the measures announced last Wednesday, Lopez Murphy said that "the government publishes these unnecessary makeup elements, these are demands of society, but this is not what needs to be done," he said. declared.

In this line, he continued: "The price agreement is useless, it is very primitive to do something like that … Everyone knows that inflation is a monetary phenomenon with a fiscal root".

As for inflation, Lopez Murphy has estimated that "in the direction we are heading in, inflation should be between 35 and 40 points" for this year.

Country risk is an indicator that measures the interest rate differential of US Treasury bonds. with its emerging peers, and reflects the degree of mistrust prevailing in the market regarding the repayment capacity of the Argentine debt.