I am interested in the future of the dollar.reserves and return to international marketsa delegation of foreign investors including Wall Street giant Morgan Stanley visited Buenos Aires. This Monday, the Minister of Economy Luis Caputoreceived them at the Ministry of Economy, the outlook was good, but the general feeling was: A sharp decline in country risk is still far away.
Shortly after noon, representatives of investment funds and banks met with heads of economic portfolios on the fifth floor of the Ministry of Finance. “It was a good meeting,” one participant summed up at the exit. profile. When asked about the agenda, investors assured that special attention was being paid to exchange rates, foreign currency purchases by the central bank and the arrival of future investments.
However, when Argentina deals with returning to autonomous debt markets with levels of country risk that allow for exorbitant interest rates; The answer was long-term. “It’s highly unlikely that we’ll be back at the end of this year. Yes, it is possible by the end of 2026, but there is a long way to go. ”said one of the sources. Buying back corporate bonds was also on the agenda.
Morgan Stanley: From Axel Kisilov to doubts about the dollar
In the middle of the afternoon Mr. Caputo and new Treasury Secretary Alejandro Lew; They met again with representatives from Morgan Stanley, which said in its latest report that Argentina needs “a weaker currency to eliminate its current account deficit and accumulate more foreign exchange reserves.” The last time the same group visited the capital, one of its concerns was the possible election of Buenos Aires governor. Axel Kisilov And the possibility of becoming a candidate in 2027.
Caputo pushed for changes to the dollar system.
Now, the bank’s aim is to Watch to see how Caputo recalibrates his economic plans Although the dollar has remained stable, it has been close to the top of the band. Did not accumulate foreign currency earned in the exchange market. According to the agency announcement bloomberg Over the weekend, officials told U.S. investors that trading in currency bands would accelerate. Updated to 1.5% The government also plans to proceed with the buyback of government bonds. It will face significant payments to private bondholders and governments in the coming months. International Monetary Fund (IMF)the market is discounting these obligations to be resolved in a swap with the US, but still calls for the purchase of foreign exchange reserves.
Luis Caputo before the establishment of economic industry
These questions are also asked by members. FIEL Foundation and the Argentine Industrial Union (UIA). The Minister will be the main speaker on behalf of the Executive at two events on the Minister’s agenda this week. This Wednesday, he will be in charge of closing the rally. think tank He operated this facility on the same stage as Domingo Cavallo, former Secretary of Finance and Palace, who oversaw the entire management of the palace. Javier Millay The difference with the economic plan was clarified. Among other things, these relate to foreign exchange delays and the purchase of U.S. currency.
Positive numbers for the construction industry: according to INDEC, it increased by 0.9% in September
The 31st Industrial Conference opens on Thursday, with hopes high for both the labor reforms expected by businessmen and the accompanying labor reforms. As well as the activity numbers, the drama the sector has been experiencing since the inauguration of the Libertarian government. The closing was to be performed by the chairman, but a final speech by the chairman was eventually incorporated into the program. UIA, Martin Rapparini and the brand new Interior Minister Diego Santilli.
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