An unconvincing "devaluation"
Portada en Ingles
Columnist for Ámbito Financiero
The market got stuck: the "classic" Merval fell 2.6% and the local M.A.r 3%.
A cheap poverty
In Brazil, the stock exchange joined our fall. Brazil's good excuse for falling is based on our fall, the others were in another scenario.
A local floor with very few orders and "cheap" as regards prices: discouragement in itself.
If we seek the volume orthodoxy with respect to prices, we could find a way out. But it is difficult to stand when we are face-to-face with these figures mere $17 million- and without being able to keep stability.
The question is: why should we change, if everything will remain the same? If the government is planning to change the regime to improve competitiveness, the answer seems obvious.
Cavallo's marketing, using make-up, has not had repercussions until now. I will not have repercussions in the short term, either. We have a nice week ahead of us...