“It’s a gesture to the market, it’s a gesture because they need money, it’s like you put on a jacket and tie to go to the bank, and it’s to look better,” he said.
For iProfessional
01/21/2023 – 8:42 p.m.
Economist Claudio Zuchovicki spoke on Rivadavia radio about the debt buyback and its impact on the economy. “If they were going to allocate the money to spend on militancy, spend on bureaucratic expenses, it is better that they buy a billion dollars in debt, they end up buying three thousand because they are at 30% of the value and it is a way of lightening the cost a bit. future. It is gesturalis to show willingness to pay,” he said.
In the framework of an interview on the Modo Plager program, Zuchovicki added that “Argentina does not get out of debtchange creditor”.
“It’s a gesture to the market, it’s a gesture because they need money, it’s like you put on a jacket and tie to go to the bank, and it’s to look better. It doesn’t change anything because the amount is very small compared to what Argentina owes ” said.
“Argentina in total owes 379,000 million dollars, of which a total of 120,000 million are in bonds, of which it buys a billion. It’s little, it’s good but little,” he said.
“It is a gesture to the market, it is a gesture because they need money,” he said.
He also said that “is a lie” that they get out of debt because what they do is change creditors: “what they do is that they buy the cheapest debt”.
How does the measure impact?
Regarding what is perceived, he said: “it is gestural, I repeat” and he considered that they made another measure that in his opinion was important: “the fixed terms of people can be divisible and pre-cancellable”, that is, a part can be sold or a repentance in the term.
Then, when asked if there could have been any leak of privileged information, he said that “the markets are transparent” so if something happened that should not have happened, it is detectable and if it had happened, it is a crime, although he was skeptical about it. that some official knowing all this may have used information.
