Despite the positive features of this operation, several analysts warned about its cost, since it implies debt through bonds that are yielding between 15% and 16% in dollars if they are evaluated at dollar Counted with Settlement.
According to the analyst of the EcoGo consultancy, Juan Ignacio Paolicchi, non-resident investors were willing to pay $ 143.8 per dollar to leave Argentina, thus validating an increase in indebtedness In dollars of US $ 265 million (at the official exchange rate).
It should be remembered that in the exchange last month, Economy had converted a liability of $ 43,038 million into another of US $ s750 million.
With these decisions the Government seeks to offer a less harmful exit door in macroeconomic terms to investors, mainly the Pimco and Templeton funds, who were "trapped" in pesos after the reperfilami entos imposed by the management of Mauricio Macri in 2019 and that, in front of the stocks, they sought some type of coverage in North American currency through operations with Cash with Settlement and MEP.
"It contributes to the objective of deepening the process of normalization of the market of financing instruments in local currency and as part of the policy scheme for macroeconomic stabilization that includes solving the problem of the “carry trade” that the Republic suffered between 2016 and 2019, and that contributed to exchange rate instability , economic and social that the country has suffered since the exchange run of April 2018, "they sentenced from the Palacio de Hacienda.