Argentine markets continue to be pressured by economic uncertainty and waiting for IMF news
In the midst of a growing inflationary escalation, which could exceed 130% this year, the central bank announced a 600-point increase in the reference rate to 97% per year and greater intervention in the exchange market, although without giving details about the pace of "crawling-peg" (devaluations), at a time when the Government continues in talks with the International Monetary Fund (IMF) to reprogram targets.
* "The third version of the 'soybean dollar' compares very unfavorably with the previous ones," said the Mediterranean Foundation, noting that "to top off the critical situation, we must take into account that the expected flow of payments and collections with the IMF, other multilaterals, Paris Club and holders of external debt bonds of the Treasury adds up to a negative balance of 4,600 million dollars for the second half of the year."
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