A cataract of price increases begin to be applied a few days after the defeat of Mauricio Macri in the presidential elections. Prices in food, fuel and cell phone, among others, have been thawed. Increases in prepaid medicine were approved and new prices are expected in utility rates.
Marcelo Delmar, one of the most recognised names in Argentine debt underwriting, has been mentioned as a potential candidate for representing the bondholders group pursuing restructuring talks with President-elect Alberto Fernandez’s government over some $50 billion in debt.
The consortium is made up of investment funds that have their headquarters in New York, including Greylocke Capital, Marathon and Templeton. The definition of the representatives of the group is expected shortly as well as the incorporation of many more creditors interested in participating in the negotiations.
Argentine credit card holders cannot extract abroad more than $50 a time. Operations with credit cards such as payment of services outside the country, gambling and betting, transfer to investment funds, and purchase of crypto assets, among others, must also be authorised by the Central Bank.
The defeat of Mr Macri in Sunday’s elections by the Peronist Alberto Fernández, at the same time as his ally Mr Piñera faces the largest popular mobilisation in recent history across the Andes, showed the limits of the latest incarnation of right wing anti-populist politics.