The beginning of the week in the “markets” reflects a growing tension explained by external factors, but also by doubts about the direction of the Argentine economy. He country risk once again exceeded 600 basis pointsreaching its highest level in three months, in an international scenario crossed by geopolitical instability.
The escalation of the war conflict after the imperialist attack against Iranwhich maintains the international crude oil prices above $100 a barrelfuels fears of a slowdown or even a global recession. The closing of Strait of Hormuzthrough which nearly 20% of the world’s oil trade circulates, keeps energy prices at high levels. Different analysts warn that the longer the conflict continues, the greater the impact on the world economy will be.
But the rise in country risk It also expresses growing distrust of the Argentine economy and its ability to repay the debt. The $LIBRA cryptocurrency scandal, which adds new evidence involving Milei and his entourage, adds pressure on the “markets.”
The fall in sovereign bonds and the Buenos Aires stock market (-1.4%) reflects this fragility in a recessionary context, with factory closures, layoffs and a heavy external debt that continues to condition economic policy through adjustment and counter-reforms. While the rise in oil prices is already leading to greater inflationary pressure in the national economy, increasing social discontent.
Source: www.laizquierdadiario.com
