The economy is facing currency devaluation issues and is preparing for its next steps

The copy reached the Ministry of Economy and even the main companies in the country. “There are strong rumors of currency depreciation on Monday circulating in the local market,” he said. books broker A local talking to customers abroad. Cash with Settlement (CCL), which rose today, is the main way for companies and investors to get dollars out of the country. He mentioned gossip 50% jump in the exchange rate at the opening. The question at the local level is whether [el ministro de Economía, Sergio] Massa will remain in his position after this reduction.” closed.

The brief report that circulated up to the fifth floor of the Palacio de Hacienda also added that “BCRA [Banco Central] He will not allow any importer access to the foreign exchange market today, telling them that the window will open on Monday,” and that “it is rumored that this is the reason why President Fernandez resigned from the presidential race today.” These last two issues have been fulfilled. Fernandez said that he would not participate in the PASO, and after the shares were extended to the services (A7746), the monetary entity managed by Miguel Pesci published the connection A7747, complementing the previous one.

Translation of this action by the central body: it is a request to send more comprehensive information (CUIT, amount, reason operating code and information on whether the supplier is a counterparty) to potential importers in order to access the exchange market. “[El mercado de cambios] He was paralyzed today and is expected to pass on Monday as well. AFIP checker did not work”, An economist explained. “Banks are adapting their systems, and depending on how quickly they do this, customers will be able to access the market. This information is necessary to prevent fraudulent operations and to be able to count on the cooperation of the countries that are trading partners. It is expected that the situation will return to normal as soon as possible.” ., they said this means in BCRA. In the economy they denied being more than an importer.

Near Massa, exiled Nation definitely There will be a sharp devaluation of the currency. In yesterday’s companies, the 48-hour stoppage of access to FX started to generate uncertainty. “do you know something?” They asked this method from an important business room.

In the economy they talk, instead, of malicious market rumors. Avoiding a jump in the exchange rate is one of the political commitments that the Minister of Economy and Vice President Christina Kirchner undertakes. On the fifth floor of the Palacio de Hacienda, they also estimated that, at the moment, there are no meetings scheduled on the weekend to determine measures in the face of the skyrocketing free dollars.

Rather, yes They will continue to work on the “recalibration” of the agreement with the IMF with the aim of achieving an advance payment of payments for the entire year through June, A possibility appeared since the minister’s last visit to Washington.

As a counterpart to sponsoring this progress from the IMF, the focus of the team led by Deputy Minister Gabriel Rubinstein and Senior Adviser to the Minister, Leonardo Madkur, continues In getting more new dollars from international organizations, conditioning Wedge crawl (daily partial assessments) of inflation and “strengthening” foreign exchange payment systems (restricting access for importers). “Are there taps left to close?” request this broker. “No. Only one in which we discovered jodha (sic)”, he joked in Economics, not wanting to give any more details on the matter.

In economics they indicated that they have not yet made progress on the “exchange rate arrangement” committed to the IMF in the latest review of targets, for which they have time until June 30. The idea was that, in addition to launching an agricultural dollar (a measure taken; BCRA today bought $289 million thanks to the supply of grain companies), there would be official prices lower than current prices on the market (Ahorro, Qatar, Coldplay, Luxury, among others) .

In the portfolio led by Massa, they considered that first-mentioned message and others were the impetus that free dollars needed to jump strongly after the week-logged exercises between the former head of the Casa Rosada advisors, Antonio Arracre, and the president, rumors of his possible resignation and very bad inflation data for the month of March . Massa’s small team, especially those associated with the stock exchange, was responsible for gathering opinions among experts to try to get a diagnosis of the market.

Lysander [no se pudo confirmar que fuera Lisandro Cleri, hombre del Central, el destinatario del mensaje], How are you? (…) If you like, I will give you our voice merchant. They are all rumors. He’s moving [el dólar] At this time because of the rumors. There is nothing, no big orders, nor anything that can move the market. I’ll give you a sound file merchant said the voice from a source in the financial market, who then sent another message from his employee to the Masa official who was asking.

The answer merchant It was as follows: The dollar was a little behind, nearing $400 two months ago as inflation persisted, and lousy data on Friday. Later, on Monday, rumors circulated that the IMF would demand a devaluation of the official as a counterpart to his advance grant. Then added rumors of a resignation Massa. What do I know! And also the peso that is turning because of the soybean dollar, which, in fact, today put zero soybean dollars, I understand, the truth is that it is not easy. Besides, there are not many bond buyers. They are coming out For sale, and I believe they stepped in today on the AL30 and GD30 and there are no buyers.” The sound life is at least 48 hours, as indicated by the full filter brake on the CAM9 call.

In the past few hours, after the March inflation data and with some delayBCRA is resolved Raise benchmark interest rates by another 300 basis points For the economy, it’s going to go from 78% to 81% nominal annually, both for investments that banks make in their own Leliq and for fixed periods up to $10 million “for people.”

next to, The Monetary Entity has decided to defer payments for imports of professional services and inter-related freight forwarding of up to $2 billion until the end of the year (A7746 aforementioned). In addition, companies must request prior authorization to be able to meet interest payments generated by debt within the company.

today Masa, who wanted to show a “normal” workday (He met, for example, with Flavia Ruyon and Jorge Ferrarci to announce the intervention of the action plan in Edesur), and he ended his day by saluting the president after he escaped from the PASO. “Alberto Fernandez’s decision shows his generosity and leaves a mark in the future. Responsibility and unity are the way, ”the minister and potential presidential candidate wrote.