Country risk reached the highest level in two years

Country risk climbed to 2,219 basis points on Monday, the highest level in the last 22 months. With the local market inactive for the Flag Day holiday, that indicator continues to rise. Last Friday, the JP Morgan indicator that measures the surcharge faced by Argentine debt in relation to US Treasury bonds had closed at the edge of 2,200 points. Today, it surpassed that mark and reached levels not recorded since mid-2020. All in the context of the fall in Argentine bonds. Argentine bonds were almost all trading in the red on Monday, with declines of around 1%. So far this year, Argentine bonds have lost about 30%. Country risk, meanwhile, climbed 30.8% so far last week’ 2022.La, with the informal dollar jumping $8 to $224, its all-time high. Then, it fell to $216.Faced with the skyrocketing of the US currency, the national government ruled out imposing new restrictions on the dollar for individuals or companies. “I can absolutely rule it out. There is no type of trap or restriction that the Government is thinking about or that will be announced in the coming hours. We categorically deny it,” presidential spokeswoman Gabriela Cerruti said during her press conference last Thursday at Casa Rosada.

Original source in Spanish