m.m.f
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Titoli di Stato area non Euro ARGENTINA obbligazioni e tango bond (7 lettori)
- Creatore Discussione SINIBALDO
- Data di Inizio
Tranquilli!!! Io sono tranquilissimo!
martedì rialzano il rating di 6 gradini...m.m.f
Forumer storico
m.m.f
Forumer storico
Bloomberg - Are you a robot?
Argentina Imposes Capital Controls as Reserves Drain Away
By
Philip Sanders
1 settembre 2019, 19:58 CEST Updated on 1 settembre 2019, 22:34 CEST
The central bank set a limit of 5 days for exporters to repatriate foreign currency, while institutions will need authorization of the bank to buy dollar in the foreign exchange market, except in the case of foreign trade, according to a statement from the bank. Individual Argentines will be limited to dollar purchases of no more than $10,000 a month.
The announcement comes as Argentina’s currency crisisspirals out of control. About $3 billion drained out of foreign currency reserves on Thursday and Friday alone as the government struggled to repay short-term debt and slow the drop in the peso. The country risks exhausting its net reserves, which stand at under $15 billion, within weeks if it keeps losing money at this pace.
The peso collapsed more than 25% last month after primary election results showed the market-friendly government has little chance of retaining power in October’s polls. Interest rates soared as the central bank tried to roll over debt, culminating Wednesday in a decision to delay payments on $7 billion of bills coming due this year.
The opposition had called for currency controls, saying the government was in “virtual default.” Central bank reserves have slumped to $54.1 billion from $66.4 billion the day before primary.
The re-imposition of currency controls will be an embarrassment for President Mauricio Macri, who came to office over three years ago pledging to free up the economy after years of state intervention. While money originally flooded in the country, the expanding fiscal and current account deficits eventually unnerved investors, prompting the peso to lead emerging-market currencies declines last year.
Now, faced with an electoral defeat in October, Macri has given up trying to restore investor confidence and has instead resorted to the policies he had criticized his predecessors for imposing.
As well as pushing back maturities on local short-term debt on Aug. 28, Argentina also said it will ask holders of $50 billion of longer-term debt to accept a “voluntary reprofiling.” It also plans to renegotiate payments on $44 billion it has borrowed from the International Monetary Fund.
Fitch Ratings now classifies Argentine debt as RD (restricted default); Standard and Poor’s as CCC-; and Moody’s as Caa2. Credit default swaps are pricing in more than a 90% chance of a fully-fledged default within five years.
Here is a list of some of the measures announced today:
Argentina Imposes Capital Controls as Reserves Drain Away
By
Philip Sanders
1 settembre 2019, 19:58 CEST Updated on 1 settembre 2019, 22:34 CEST
-
Central bank to set time limit to repatriate export dollars -
Institutions to require authorization to buy foreign currency
The central bank set a limit of 5 days for exporters to repatriate foreign currency, while institutions will need authorization of the bank to buy dollar in the foreign exchange market, except in the case of foreign trade, according to a statement from the bank. Individual Argentines will be limited to dollar purchases of no more than $10,000 a month.
The announcement comes as Argentina’s currency crisisspirals out of control. About $3 billion drained out of foreign currency reserves on Thursday and Friday alone as the government struggled to repay short-term debt and slow the drop in the peso. The country risks exhausting its net reserves, which stand at under $15 billion, within weeks if it keeps losing money at this pace.
The peso collapsed more than 25% last month after primary election results showed the market-friendly government has little chance of retaining power in October’s polls. Interest rates soared as the central bank tried to roll over debt, culminating Wednesday in a decision to delay payments on $7 billion of bills coming due this year.
The opposition had called for currency controls, saying the government was in “virtual default.” Central bank reserves have slumped to $54.1 billion from $66.4 billion the day before primary.
The re-imposition of currency controls will be an embarrassment for President Mauricio Macri, who came to office over three years ago pledging to free up the economy after years of state intervention. While money originally flooded in the country, the expanding fiscal and current account deficits eventually unnerved investors, prompting the peso to lead emerging-market currencies declines last year.
Now, faced with an electoral defeat in October, Macri has given up trying to restore investor confidence and has instead resorted to the policies he had criticized his predecessors for imposing.
As well as pushing back maturities on local short-term debt on Aug. 28, Argentina also said it will ask holders of $50 billion of longer-term debt to accept a “voluntary reprofiling.” It also plans to renegotiate payments on $44 billion it has borrowed from the International Monetary Fund.
Fitch Ratings now classifies Argentine debt as RD (restricted default); Standard and Poor’s as CCC-; and Moody’s as Caa2. Credit default swaps are pricing in more than a 90% chance of a fully-fledged default within five years.
Here is a list of some of the measures announced today:
- Central bank sets deadline for repatriation of foreign earnings for exporters
- Repatriation must be made within 5 days of payment or within 15 days of receiving the shipping permit in the case of grains, whichever is quickest
- Other exporters have 180 days from the date of the shipping approval
- Argentines can only buy as much as $10,000 a month, or transfer the same amount to a foreign account
- Limit is $1,000 in the case of non-residents
- All companies must request permission to distribute dividends abroad or to buy dollars in the foreign exchange market
- They can’t buy dollars for savings purposes
- No restrictions for dollar purchases aimed at completing foreign trade transactions
- No limits to companies and savers that want to withdraw dollars in cash from their accounts
- No currency restrictions on tourists or Argentines abroad
StockExchange
Forumer storico
Non ho detto che in virtù di questo si volerà.
Secondo me il mercato vuole vedere comunque prima la posizione di tutte le parti in causa. FMI in primis. E poi vedere se Fernandez fa qualche dichiarazione distensiva dimostrandosi in continuità con Macrì nella volontá di essere market friendly col debito.
In ogni caso fino a che il mercato non avrà chiaro l'atteggiamento del governo futuro, secondo me resterà molto cauto con le quotazioni.
Tuttavia visto che uno dei rischi concreti non è solo dovuto a possibili cattive intenzioni di chi verrà, ma anche al fatto che la situazione sfugga di mano e visto che l'elemento che può sfuggire di mano è l'eccessiva svalutazione troppo rapida e la fuga di capitali bruciando enormi quantità di riserve per difendere il cambio (tra l'altro in prestito, le riserve nette se si tolgono le tranche già date dall'FMI e i prestiti cinesi, sono 4 spicci altro che quasi 60 mld).
Quindi la notizia va comunque nella giusta direzione per noi. È nel nostro interesse come tentativo di contenere la svalutazione dei pesos.
E va nell'interesse volendo dell'argentino salariato, senza particolari risparmi e nell'interesse della tenuta del loro sistema valutario e finanziario.
Indubbiamente può essere invece l'inizio della fregatura per il risparmio degli argentini.
Spero per loro che la situazione non si ingarbugli al punto da richiedere la pesificazione forzosa dei depositi in dollari, dopo aver bloccato i capitali all'interno del paese (ma quest'ultima misura a questo punto si rendeva necessaria).
Posto che quelli più scafati e con grandi capitali credo abbiano portato sistematicamente fuori almeno da quando c'é Macrì o comunque da quando si sono allentati i controlli sui capitali. E sicuramente da quando hanno visto arrivare tensioni finanziarie come l'intervento dell'FMI.
Ultima modifica:
Jsvmax79
Forumer storico
@Rendivalores
·
4h
#DestacadoRV Los golpeados bonos de Argentina siguen cayendo hoy en las operaciones de Europa después de que un reporte de calificación soberana por parte de Standard & Poor’s activó mecanismos de ventas automáticas de algunos de los gigantescos fondos de pensiones de Alemania
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4h
#DestacadoRV Los golpeados bonos de Argentina siguen cayendo hoy en las operaciones de Europa después de que un reporte de calificación soberana por parte de Standard & Poor’s activó mecanismos de ventas automáticas de algunos de los gigantescos fondos de pensiones de Alemania
Owblisky
Compravendite mobiliari
Potrebbe bastare per un rimbalzo dei prezzi delle obbligazioni.
La svalutazione speculativa del Peso è al momento il primo problema da arginare, la mossa sembra fatta con il giusto tempismo (paraculo), quando gli Argentini hanno già messo al sicuro i loro risparmi e il peso è ad un livello in cui sarebbe gestibile.
