“With measurements”Country danger“Of the sovereign titles in dollars, Argentina is still in the league where Bolivia and Congo are also located (ABC). In the current context, the possibility of promotion to the league again appears strongly BamIn which Argentina was located for a long time next to Brazil and Mexico. There are conditions and incentives for implementing decisions that embody the rapid achievement of this goal.
“Country danger” exists 600 basis points these days. The index has improved in recent weeks after witnessing high volatility during the year. It started 2025 at 550 basis points and reached nearly 1,500 basis points in Worst moment Measured in September 2025. Today, the bonds indicate “Country dangerThis remains far from the levels of Brazil and Mexico – and other countries on the continent – and is very similar to the levels of Bolivia and Congo.
In the early 1990s, under Arrangements and policies In which many countries participate today, which are today called emerging or other, prices (He comes back) of Argentine Bonds made Argentina part of the BAM League. Therefore, the “country risk” was in the range of 200 basis points Spread level Which Brazil currently possesses.
During 2005 and until mid-2007, in the period before the international crisis, but with lawsuits due to unpaid bonds (contraband), Spread They were at levels ranging between 150 and 350 basis points. But it is also true that there were many moments when… Complications Both internally and externally, the risks to Argentina were more than double the current risks.
he goal Measures must then be implemented to reduce country risks to levels that allow access to credit in the context of Sustainable debtAnd it decreases perfectly. The debtor must confront maturities by providing the necessary resources for payments, or restructuring obligations that affect his future credit. The effective ability to repay, and not just the willingness of the debtor to fulfill its obligations, is crucial in risk assessment by debtors. Investors. To prove this, a variety of measures can help demonstrate debt sustainability.
The tasks that lead to this are complex and have results They show themselves over time. It is suitable application It would lead to a virtuous circle. Based on current circumstances, the following are taken into account, among others:
1. Management investigation Monetary exchange Balanced and not biased or extreme, where operating rules are clear and incentives are consistent. Part of its compilation includes assembling and strengthening the international reserve position. So far this year, the slide 40% nominal The peso-dollar ratio, compared to the 24% increase in retail prices, provides a better basis for achieving this goal, as it has become more balanced than it was a few months ago.
2. Continue to grow a Respectful behavior To contracts. In particular, with regard to what local legislation achieves. In this way, Argentina will be able to establish itself as a destination for capital investments without visualization Higher risks.
3. Pay attention to the balances you have achieved Tax matters. This is particularly necessary given the scarcity of resources and the extremely stressful circumstances of additional debt. A significant signal is one that arises from the current processing and consent to National budget.
4. Reducing reliance on unusual sources of financing, in particular Living organisms multilateral and formal, which, in addition to the conditions attached to it, has a hierarchy of creditors.”distinct“About the rest.
5. Winning Competitiveness and efficiency In the performance of the economy, through structural improvements. Argentina has lost its relative positions in a world that has made significant progress through innovations and improved efficiency. This is despite the fact that it has become more difficult recently due to progress Foreign trade Protectionism is re-emerging alongside growing geopolitical influences.
6. Increase sources Finance Local and improving access conditions, both in terms of amounts, conditions and currency. In this way, the supply of money from outside is supplemented, but its dependence is also gradually reduced. In this sense, under current conditions, there will be potential to generate space for CO2 emissions Global bonds. The combination of regaining access to the international market and further developing the domestic market are both desirable and mutually reinforcing goals.
Progress on this path, with strengthened management, could lead to… New batch To improve the conditions and performance of the economic system as a whole, thus avoiding painful adjustments. Anti-cyclic defenses can also be created that mitigate the effects of manifestation Harmful elements. The continuation of “country risks” that are more in line with the regional normal contributes to maintaining a virtuous circle, with effects that will benefit the various participants in the process. Local economy.
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