In dialogue with Channel E, Eugenia Muzioa journalist specializing in economics at Grupo Perfil, explained what destination the money laundering funds released since December 31 could have.
The impending revelation of money laundering schemes is once again setting off alarm bells in the market. As explained Muzio“There is $20,000 million that may or may not put pressure on the dollar“A relevant number that will begin to change as soon as the lock-in period for the special accounts has expired.”If you cashed out less than $100,000, you had to stay there until December 31st, and now that date is just around the corner“, he remembered.
The central question is how these funds are used. “In two weeks this $20,000 million can be released and we are considering where it can go” he explained Muzio. For the journalist, the appetite for the dollar remains, but the context has changed: “We cannot say that this is the same situation as before the elections, when there was a much stronger portfolio decision“.
Stock market pressure or reinvestment?
Muzio He emphasized that these dollars have already produced returns. “They made a profit of at least 20% in dollars“he noted, citing private estimates. This profitability opens the door for new investments if confidence continues.”It is difficult to return the money in the bank locker” warn market specialists.
The journalist mentioned the real estate sector as possible options. “There is also a risk in keeping it in dollars as inflation has accelerated quite a bit in the United States” he explained, adding that real estate appears to be an alternative, especially if there are tax changes.”There’s a chance it will remain a brick if taxes like rental income go away.“, he indicated.
Bonds and stocks also appear as possible targets. “One option is to earn a real interest rate with bonds and stocks” he explained, but clarified that everything depends on the official signals.”The market is checking whether the government will provide some kind of stimulus“, he remarked.
The role of government and the reforms
From an official perspective, the goal would be productive. “The government’s original intention is to rely on productive credit.he explained Muzio. However, he noted clear demand from the private sector: “The incentive that governments in Argentina are used to from the market is missing“.
Without new impulses, the risk is concrete. “They may start to bear, and that may put pressure on the dollar“, she warned. As far as financial policy is concerned, the journalist was cautious: “The tax reform has no date for now and a major reform has been abandoned“The focus is on another front.”The government has put everything into labor reform and is talking more about tax simplification“, he concluded, with possible tax relief only for later.
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