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A Goldman Sachs macroeconomic report released December 21 says Argentina faces strong headwinds in 2022 and 2023 without fiscal or monetary anchors, and that the peso needs to be devalued. The bank projects GDP growth slowing to 2.9% in 2022 and inflation staying high.
It also flags the IMF refinancing of short-term debt as an unresolved issue.
A forecast of peso devaluation and persistent inflation points to continued weakness in Argentina's currency, which can make its soymeal and grain exports more competitive on world markets. Uncertainty over IMF refinancing adds to pressure on local export sellers.
en.mercopress.comDec 22, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
