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Argentina, defeat Macrì. Dollar + 34% and stock market down 31%


Macrì brings together the government, rumors of reshuffle

  • Weak exchanges, it is also feared for Argentina


12 August 2019Black economy day in Argentina after the defeat of President Mauricio Macrì in the primaries held yesterday in view of the presidential elections on 27 October.

The ample 'punishment' of 15 points (48 to 33) imposed on Macrì's 'together for the change' formula from the 'ticket' Alberto Fernandez-Cristina Fernandez de Kirchner ('Front of all') sparked a race for the greenback , always good savings for the Argentines in the face of crises.

Due to this strong demand, the weight suffered a maxi devaluation of 34% (from 49 to 61 pesos), similar to that of 2015 shortly after Macri's establishment at the Casa Rosada.

Even the Buenos Aires stock exchange accentuated losses on the day. The Merval index has gone into 'deep red' (-31.57%), with strong penalization for the financial and energy sectors. Bad also the bonds, which lost 17%, while the 'country risk' grew by 45 points to 904.

Macrì brings together the government, rumors of reshuffle
The Argentine president Macrì has called a meeting of the government in closed markets in Buenos Aires for the local afternoon (Italian evening), while rumors and denials of a possible reshuffle of the government follow one another. Coalition sectors 'United for change' have pointed the finger at the government coordinator, Marcos Pena, as responsible for the strategy that led to the sharp electoral defeat. Sources close to Macrì assured that after the government summit, the head of state will make "important statements" to the media.

Source: rainews

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