Four more days are coming with new minister and new decisions. </p><div>
Tomorrow will start the week "business" after this Monday "Not working", which already with a brand new Minister of Finance, we must be attentive to renewed decisions and measures that, in some way or another, may impact the day-to-day life of Argentines. Within that framework, the Argentine Institute for Social Development released a report detailing the escalation of the dollar from 45 to 60 "it was avoidable."
The same with him Risk country, that one day after the Open Primary, it shot up to 2,000 points and then progressively go down to 1680 last week, but today it rose again 200 units due to the decision of the Fitch risk meter to cut the note from Argentina from “B” to “CCC”, that is, what a risk of a country default. Also, another rating agency, S&P, downgraded the grade from “B” to “-B”.
Meanwhile, the concern does not go away because after the results of the Sunday elections, the reserves of central bank they accumulated a fall close to 4,000 million dollars and nothing indicates that their setback comes to an end, since to keep the dollar without firing again, one of the measures to be taken is the sale from the parent entity to control the purchase street sale.
From Wall Street
With a quasi holiday, the week starts with a story that did not exist until last week: the national government has a new minister of economy: it is about Hernán Lacunza, comes from the province of Buenos Aires and displaces Nicolás Dujovne, one of those aimed at leaving office after the recent devaluation. In that scenario, in Wall street They speculate with an unimaginable dollar at 106 pesos by the end of the year.
For many investment funds, the tense calm reigning is only momentary, since the substance of the matter remains equally complicated and there are still four months left to close 2019, which is a long time, with pressures from all sides, negotiations and a political tension that will always be a pot on the verge of boiling.
With a dollar retailer that skyrocketed 25% during the most nervous week of the last year carrying the currency above $ 58 and bonds that collapsed 30 percent, came back and very strongly the feeling of a possible default that only days ago, before of the STEP, all this was not even a real possibility. As for the actions, the Stock Exchange could have bank papers as its main victim from here to October, at least.
Wall street
In Wall Street banks there is no security or trust of any kind here at the end of the year, because Bank of America-Merrill Lynch, among others, predicted that the dollar will be at $ 70.50 later this year, that is, up 28% in the next four months, and projected this with the respective inflation, 2020 would find the Fernández-Fernández management with a US currency valued at 106 pesos.
The dollar "Dujovne"
Yesterday, Nicolás Dujovne decided to step aside Ministry of Finance of the Nation and was already replaced by Hernán Lacunza, who had been serving as Minister of Economy in the province of Buenos Aires. During his tenure, initiated in early 2017, Nicky it participated in two exchange currents and the dollar rose 349%.
“Dear Mauricio (Macri): I have decided to present my resignation. I do it convinced that, under the circumstances, the management you lead needs a significant renewal in the economic area. I also consider that my resignation is consistent with belonging to a government that listens to people and acts accordingly, ”said Dujovne in his goodbye.
The economist, of radical belonging, assumed the position in the Treasury of the country on January 2, 2017 and replaced Alfonso Prat-Gay. It should be remembered that at that time, by decision of the president, the Ministry of Finance and Finance was divided in two, Nicky being elected to lead the first and Luis Caputo was in charge of the remaining.
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https://elintransigente.com/economia/2019/08/19/que-nos-espera-esta-semana-dolar-riesgo-pais-acciones-y-banco-central/
