Weekly Report Nº 30: FX Controls Are Tightening
[Fiscal] The Treasury finally published April’s fiscal results, in line with our expectations: Primary Deficit of ARS 228 and a total deficit of ARS 266. Revenues increased 14% YoY (-17% in…
[Fiscal] The Treasury finally published April’s fiscal results, in line with our expectations: Primary Deficit of ARS 228 and a total deficit of ARS 266. Revenues increased 14% YoY (-17% in…
SEIDO Flash Report: (un) Frozen prices.Early signals of inflation acceleration. After 6 weeks of very low printings (< 0.5% WoW), inflation accelerated in the last two weeks to 0.9% and 0.75%…
[FX and monetary] Another week of the "new normal". BCS pressure eased this week and BADLAR and TM20 rates have been forced up 500 and 800bp respectively. However, the official…
[Monetary and FX] Forex market remains under stress. The BCS premium increased to 86% this week, reaching new highs since capital controls were imposed and also surpassing records of the…
[Activity] March, with just 10 days of quarantine, and April's early activity data is worst than expected and looking like a 2001 crisis kind of contraction. The government is stepping up…