Financial markets are operating with a mixed trend today, showing caution due to indications of a possible agreement between Argentina and the IMF. Investors are waiting for progress in negotiations to renew an existing loan and obtain additional funds to support the Central Bank's reserves. The government plans to present a bill to Congress to request legislative support for talks with the international organization, although without providing many details about it.
Argentina currently has a loan of US$ 44 billion, the largest ever granted by the IMF, and claims that any new financing obtained will be used to pay the Treasury's debts with the Central Bank. In this scenario, it is estimated that the IMF could disburse up to US$ 20 billion in a potential agreement, a figure significantly higher than expected.
As a result of this news, dollar-denominated bonds mostly show declines, while the country risk measured by JP Morgan increases by 6 units, reaching 722 basis points. On the Buenos Aires Stock Exchange, leading shares register an increase of 1.2%. Among the companies with the highest increases are BYMA (+3.5%), Aluar (+3%), and Sociedad Comercial del Plata (+2.5%).
Regarding Argentine values on Wall Street, a mixed behavior is observed: Banco BBVA shows an increase of 2.7%, Ternium rises by 1.6%, while Loma Negra (-2.4%) and Edenor (-1.1%) experience declines in their quotations.
