The rise of the dollar "has to do with the lack of domestic savings"

The market badyst, Claudio Zuchovicki, said that while it is true that things are not going well, we have to stop the ball a bit, because we exaggerate in a vision of heavy excess. He warned that "what the self-fulfilling prophecy will realize is that it ends up happening."

"I do not want to escape the reality, but what happened yesterday and before in the markets was more technical than for a political and electoral problem, and this is due to the lack of domestic savings in Argentina" , did he declare.

He explained: "Technically, Argentina thought these days it would emerge and stop being a border country." This, which is good news in the short-term market, has proven to be a complicated market issue, as those with badets in funds must be sold and emerging countries can buy. "

"But in addition to a regional problem, the weight of Latin America's emerging countries has fallen," he added.

"In Castilian, it will enter a sum of money, it is first the sale and the money that will come in. It is an economic problem, a market problem and also a risk of country", he added to Radio La Red.

In this line, the badyst clarified that "those who had bonds had to sell, and that there was no problem in the absence of seller, the problem is perhaps that there was no temptation to buy "

Then, as stated "what happened is that, as Argentina does not have national savings, we do not have a capital market because we have taxed or abused it, and Argentina saved in dollars because he was not used to saving, there was no buyer, then the buyer said: "So you have to sell and what risks can I accept to enter in Argentina? "In this context, he pointed out that" there was up to the wear and tear benefit of a forced seller, whoever had bought, then the question n & # 39; It's not about why they sold because it can happen to anyone, but why invest in the country where they demand so much discount. "

"I will show you a picture of Sri Lanka after the attacks, I will show you another with the Lebanese people who emigrate on foot to enter the United States and I tell you that the country risk of these countries is half of the risk Country Argentine, "he said as an example.

And he said it's because "we're all day, with the self-fulfilling profession, who says it's about to explode, like in 2001. And what we're going to achieve is that we fall into this situation ".

In this line, he asked "stop the ball a bit, badyze the numbers." We exaggerate in a vision of excess, and because it happened in the past, we think that everything is repeated and that everything is a disaster. but not having the same risk country of Sri Lanka after an attack. "

As a result, he said "does not understand why the government will explain that it is a political problem".

In the end, asking how he envisioned the situation in the coming weeks, he said: "Technically, you have to calm down and reduce it, because it's one thing to be informed, and another thing is to be influenced ".

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