The Argentina country risk rose again, piercing the barrier of 1000 points (currently at 1003) and marking a new record high in the current administration. In addition to this, was also increased the American currency closed Wednesday nearly $45.Con these points, uncertainty and the endurance of the economic model macrista again be put in doubt by the international market. Is in this line that the British newspaper specializing in economics, Financial Times, published an article where he analyzes the current context.” When Mauricio Macri was elected President of Argentina in 2015, it was hailed as a pro-market leader and pro-reform willing to take the difficult policy choices that eventually re-enderezarían the fight of the economy of the country in troubles and inflation”, part by pointing out the writing.
In this regard, stresses that “an extended monetary crisis and the largest in the history later IMF program, and its management approach to dealing with the volatility of the market and keep happy voters failing before the important presidential election of October”. In reference to the increase on the levels of risk country is that the newspaper argues that “the cost to insure against a default of Argentine debt rose to its highest level since that Macri took office three years ago and a half, consolidating the country as the SEC title When borrower sovereign most risky in the world behind Venezuela”.
“Sudden movements occur when Macri re-election prospects look decidedly weaker, and the Government officials struggle to contain both a record inflation and a more volatile currency with little success”, he says. With regard to this, it is understood that “to remedy this, the administration of Macri has supported in unorthodox in an attempt to ´desesperado´ economic policies, as an investor, says to suppress the runaway inflation that has undermined the recovery of the” country from the currency crisis of last year”. On ads last week, reading poses that “Although this can help anchor expectations of inflation in the short term, sends a worrying signal to investors with painful memories of the inclination of the previous administration to the” lack of conventionality economic”. “Consistent with its long tradition of mismanaging its economy, the Argentine Government abandoned last week its latest attempt of macroeconomic orthodoxy in favor of the kind of unorthodox policy measures, which have been responsible for the long history of” economic results depressing of Argentina”, concludes the note.
