Argentines are still looking for dollars to three days of elections; country risk scores record

The dollarization of wallets it persisted on Thursday in the Argentine market, as a hedge of purchasing power in the face of the weakness of the battered peso and the expectations generated by the legislative elections on Sunday, where the Government could lose control of Congress if the result of the primaries is repeated.

Once again, the environment of President Alberto Fernández had to go out and insist that there is no devaluation at the door, in the face of the risk generated by an exchange gap greater than 100% with the informal exchange rate and record levels of country risk.

“The Argentine problem does not pass so much by the type of public policies, but rather by the type of consensus that is generated to advance towards a comprehensive economic plan, whether it is more center, more interventionist or more market (…) In Argentina much more political clarity is needed, more political anchor and credibility, “Javier Timerman, partner of the AdCap consultancy, said in radio statements.

The inhabitants of the South American country are accustomed to pre-electoral exchange swings, reinforced by high inflation, growing fiscal deficit, indebtedness with the IMF and worrying poverty.

“You don’t have to shake a devaluation (…) Monday (next after the elections) is Monday, it is governed every day, “said Gabriela Cerruti at a press conference as spokeswoman for the presidency to minimize the daily loss of value in the peso.