Interested in the future of the dollarreserves and return to global marketsa delegation of foreign investors including Wall Street giant Morgan Stanley visits Buenos Aires. Minister of Economy today, Monday Louis CaputoI received them at the Ministry of Economy and although there were good prospects, the general feeling was so-so A sharp reduction in country risks is still a long way off.
In the afternoon, representatives of investment funds and banks met on the fifth floor of the Treasury Palace with the head of the economic portfolio. “It was a good meeting,” one participant summed up upon exit Introductory account. When asked about the agenda, investors confirmed that there was particular interest in the exchange rate, the central bank’s purchases of foreign currencies and the arrival of future investments.
But when Argentina’s return to voluntary debt markets is treated with a level of country risk that allows for non-exorbitant interest rates, The answer was long term. “There will be almost no return at the end of this year; Yes, before the end of 2026, but there is still a long way to go.”“, one source responded. Bond buybacks were among other topics on the agenda.
Morgan Stanley: From Axel Kicilloff to doubts about the dollar
In the middle of the afternoon, Caputo and the new Finance Minister Alejandro Leo, They held another meeting with representatives of Morgan Stanley, the bank that said in its recent reports that Argentina needs “a weaker currency, which eliminates the current account deficit and accumulates more reserves.” The last time there was a visit by the same entity to the national capital, one of the concerns was regarding the chances of the governor of Buenos Aires, Axel Kiselov, And his chances of running for office in 2027.
Kabuto advanced changes in the dollar chart
Now, the intention of the bank Watch how Caputo recalibrates the economic program In a context in which the dollar remains stable, but is close to the ceiling of the range until now The foreign currencies acquired are not accumulated in the exchange market. According to what was published by the agency Bloomberg Over the weekend, the official told US investors that the swap ranges will accelerate their growth Update to 1.5% The government will move forward in buying back debt securities. In the coming months, it will have to face large payments to private bondholders and the government International Monetary FundThe market excludes that these obligations will be resolved through a swap with the United States, but it is still calling for the purchase of reserves.
Luis Caputo in front of the Economic and Industrial Corporation
These questions will also be asked by members FIEL Foundation and the Argentine Industrial Union (UIA). There are two events on the Minister’s agenda this week in which he will be the keynote speaker on behalf of the Executive. This Wednesday will be responsible for closing the pool Think Tank The institution is on the same platform as Domingo Cavallo, former head of the Palace of the Treasury and who throughout the entire administration Javier Miley It was distinguished by its differences with the economic plan. Above all, regarding the exchange delay and the purchase of US currency.
Positive numbers in the construction sector: it grew by 0.9% in September, according to the INDEC index
The 31st Industrial Congress will open on Thursday, setting expectations on labor reform, which businessmen expect; As in the activity numbers, the drama that the sector has been experiencing since the beginning of the liberal administration. The conclusion was scheduled to be the responsibility of the president, but in the end the program included a final word by the president UIA, Martin Rapalini, and the new Minister of the Interior, Diego Santelli.
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