Economist Christian Buteler pointed to the weakness of economic activity, the fall in revenue collection, and the limited fiscal margin for further adjustments as the reasons why doubts in the financial market persist. He considered that among economic agents, the fact that 'revenue has weakened and is falling in real terms' may be a weight. He also warned about the limits of fiscal policy by stating: 'You have already made most of the possible cuts and there is not much left.' However, he noted that it is 'difficult to find the reason why the country risk remains in the range of 500, 600 points,' given that the country 'has always paid, has demonstrated a willingness to pay' and has 'the guarantee of the American treasury for a swap to pay what comes due in the future.' Finally, the analyst mentioned as a factor that could play against them the 'precedents of Argentina and of Caputo himself.' In this regard, he recalled the management during the government of former President Mauricio Macri, where the current minister 'had placed debt intensively,' a process that 'ended badly' and where international investors 'all ended up losing a lot of money.' In conclusion, he stated that 'investors still do not trust more strongly' to converge to a country risk similar to that of the region.
