The Minister of Economy of the Nation, Sergio Massa, this Friday ordered the National Securities Commission (CNV) to investigate whether the announcement of the repurchase of 1,000 million dollars in sovereign debt was leaked ahead of time, a situation that would have benefited investors. He asked the opposition to accompany the summary.
“This intervention will provide clarity to the question raised” expresses the letter issued by the Ministry of Economy. “Since the government’s decision in the repurchase was to protect those who speculatively tried to devalue our national currency and the value of our sovereign debt,” he adds.
Massa instructed the head of the CNV, Sebastián Negri, to begin the investigations to clarify “the possible leak of information, the existence of speculative maneuvers with sovereign bonds and the identification of possible beneficiaries”, as reported by Ámbito Financiero.
In this way, the head of the Palace of Finance pointed out that The investigation will be carried out on markets regulated by the CNV in the face of possible maneuvers that had the objective of “manipulating the market and generating a rise in the quotations of the parallel exchange rates of the MEP dollar and Cash Dollar with Liquidation.”
the order of Massa It occurs in the context in which a rise in the prices of public securities in foreign currency was observed prior to the announcement of the minister for the repurchase of debt.
In addition to what was indicated by the head of the economy portfolio, he also requests Negri to appear in a case initiated in the Federal Court No. 6 of CABA and with the title “SAMCHEZ KLABERMATTEN ALEJANDRO s / Investigation of crime” for investigation of alleged “speculative maneuvers”.
In said case, Massa asks his subordinate to make himself available to the court and deliver the list of people and companies that have bought bonds “whose prices were influenced by the announcement of the repurchase in the previous days.”
bond repurchase
Last Wednesday, Massa announced that the Central Bank would repurchase more than 1,000 million dollars in sovereign bonds in dollars, with the aim of “lowering country risk and improving the debt profile” to facilitate access to financing for local private companies. and the National State.
