The Argentine debacle is still topical | The country…

The international press continues to echo the Argentine economic crisis. Spain warns that "this was achieved because Mauricio Macri decided to offset the budget deficit by external borrowing" and pointed to the surprise created by the announcement of the announcement of the selective default and the "unusual" to shell out a debt in pesos Apply the change controls. The Bloomberg agency has expressed concern over the upcoming disbursement of the IMF loan of $ 5,400 million. At the same time, investment fund managers cited by the Financial Times seek to fill part of the economic hole generated by the fall in the price of bonds warning that the decline in Argentine badets is exaggerated in relation to the debt level of the national economy.

As in 2001, the Argentinian crisis is a major player in the global financial media. Not only because of the impact on foreign investment in the country, but also because of the possible contagion effect on other countries in the region and in other peripheral economies. . Spain's Finance Minister Nadia Calviño said: "The Argentinian crisis has an impact in terms of global financial stability and, for our country, from the point of view of Spanish companies established in this country."

On Monday, the newspaper El País de España said about the economic measures taken in the past two weeks that "exchange control should stop the flight to the dollar but not a" defect "disguise.After the control by default, the control changes occurred on September 2. If control had been established before, the default precipitate might have been useless.But Macri and -Guido- Sandleris stubbornly failed to limit the purchase and sale of foreign currency because it was the last liberal flag they had left, and finally capitulated, and the markets started to stabilize. "The big question is who will want Argentine bonds in pesos. The market for these bonds was destroyed because Macri did something unusual: the failure to pay the debt in dollars, but also the debt in pesos, "adds El País.

In addition, the Bloomberg agency has published an article in which it warns against doubts about the next disbursement of the IMF of 5 400 million dollars. Commenting on this article, noted economist Mark Weisbrot, co-director of the Center for Policy and Policy Research, emphasized the IMF's "responsibility" in the Argentinian crisis, as the government followed the program to the letter. d & # 39; agreement. At the same time, the Financial Times warned that "the financial market had overreacted" in relation to the collapse of local bond prices.