Mauricio Macri evaluates asking the central to intervene with "more force" to control the dollar

After a "black" week in which the country risk has exceeded 2,500 points, stocks and bonds have dropped and the dollar has remained on the rise, Mauricio Macri plans to take new measures to "calm the Argentines ". The President considers asking the Central Bank to intervene more strongly to control the US currency.

In the midst of the 41.49% loss of the Buenos Aires Stock Exchange at the end of August and the 37.80% rise of the dollar that same month, the Central Bank has already issued two letters: it banned large exporters from taking credits for more than $ 1.5 billion and prohibits banks from generating profits without their permission. Now, Macri would bet for the monetary entity to play louder in the currency market.

Until now, the international badets monetary authorities accumulated a loss of US $ 13,801 million and the reservations have fallen to $ 54,098 million. Last Friday, the plant had to sacrifice nearly 400 million US dollars to try to tame the US bank note.

This measure will allow the monetary entity to intervene "more aggressively" on the foreign exchange market to try to lower the price of the international currency. It is a policy similar to that implemented by former Central Bank Director Federico Sturzenegger, who during his tenure made a daily bid of 5,000 million US dollars. The initiative was halted with the agreement with the IMF.

"We are going to put all the meat on the grill since Monday, we will be much more aggressive," official sources said.to the nation. "The government's first priority today is monetary stabilizationeven if this represents the loss of reserves ", they admitted on the contrary Clarin from around Macri.

The situation on the markets

Friday, the rating agency Fitch lowered the rating of Argentina to "restricted defect" in local currency and in foreign currency, from the unilateral extension of the Government of the payment of certain debt obligations in force on August 30th.

It is the second entity that reduces the rating in debt of Argentina. The first was Standard & Poor's, which placed our country in a "selective default" with the same argument as today's Fitch, although he only maintained this rating for a day.

"Today, we are withdrawing the selective defect", Noted Sebastian Briozzo, of S & P, but said that "The defect is a reality and this will be part of the history of Argentina again.