Algo que passou desapercebido hoje...
Enviado: 15/11/2002 3:50..e que pode reacender o rastilho América Latina... se os média e os do "sistema" pegarem no assunto: (MerVal caiu hoje 3.25%)
Argentine markets slide on missed payment
Thursday November 14, 3:46 pm ET By Brian Winter
BUENOS AIRES, Argentina, Nov 14 (Reuters) - Argentina's peso and stock market closed sharply lower on Thursday after the government said it would not pay $805 million it owes the World Bank, a move likely to cut off one of Argentina's last avenues of aid.
Markets were largely surprised by the decision, as most investors had believed Argentina would either reach an aid deal in time with the International Monetary Fund or pay using its central bank reserves.
"Almost nobody expected this," a stock trader said.
Analysts said the default would have little initial effect on Argentina's real economy, but a resulting jolt to public confidence could shake recent stability gained after four years of devastating recession.
"The stability we have seen in recent weeks could be compromised if Argentina fails to reach an agreement with the multilateral agencies," said Fernando Losada, senior Latin American economist at ABN-AMRO.
The peso ended at 3.58/3.59 per dollar in large scale transactions in the foreign exchange market (ARSB=), 1.1 percent weaker than Wednesday's close of 3.54/3.55.
Traders said they worried the peso's stability in recent months could be spoiled, though they added the central bank was likely to sell dollars in the market using its steady inflows from export sales.
"This is yet another obstacle in the road of the country's financial crisis, though the peso may end up being relatively calm because of central bank intervention," a currency trader said.
The leading MerVal (Buenos Aires:^MERV - News) share index dropped 3.25 percent to 442.07 points in turnover of 101.6 million pesos ($28 million), about three times the normal daily average. Traders said about three-fourths of overall turnover took place in locally listed foreign companies.
Overall, 65 shares declined, 29 advanced and four traded unchanged.
The MerVal had been about 0.2 percent higher for the session when news of the government's decision became public around noon.
Traders said banking shares would likely be the hardest hit by a default with multilaterals since lower confidence could damage Argentina's fragile financial system. Grupo Financiero Galicia (Buenos Aires:GFG.BA - News) shed 10 percent to 0.486 pesos.
Argentine markets had rallied sharply in recent months on hopes the wounded economy might soon recover. The MerVal is up 50 percent this year, while the peso has been stable against the dollar since mid-May after its 70 percent tumble since January's devaluation.
Argentine markets slide on missed payment
Thursday November 14, 3:46 pm ET By Brian Winter
BUENOS AIRES, Argentina, Nov 14 (Reuters) - Argentina's peso and stock market closed sharply lower on Thursday after the government said it would not pay $805 million it owes the World Bank, a move likely to cut off one of Argentina's last avenues of aid.
Markets were largely surprised by the decision, as most investors had believed Argentina would either reach an aid deal in time with the International Monetary Fund or pay using its central bank reserves.
"Almost nobody expected this," a stock trader said.
Analysts said the default would have little initial effect on Argentina's real economy, but a resulting jolt to public confidence could shake recent stability gained after four years of devastating recession.
"The stability we have seen in recent weeks could be compromised if Argentina fails to reach an agreement with the multilateral agencies," said Fernando Losada, senior Latin American economist at ABN-AMRO.
The peso ended at 3.58/3.59 per dollar in large scale transactions in the foreign exchange market (ARSB=), 1.1 percent weaker than Wednesday's close of 3.54/3.55.
Traders said they worried the peso's stability in recent months could be spoiled, though they added the central bank was likely to sell dollars in the market using its steady inflows from export sales.
"This is yet another obstacle in the road of the country's financial crisis, though the peso may end up being relatively calm because of central bank intervention," a currency trader said.
The leading MerVal (Buenos Aires:^MERV - News) share index dropped 3.25 percent to 442.07 points in turnover of 101.6 million pesos ($28 million), about three times the normal daily average. Traders said about three-fourths of overall turnover took place in locally listed foreign companies.
Overall, 65 shares declined, 29 advanced and four traded unchanged.
The MerVal had been about 0.2 percent higher for the session when news of the government's decision became public around noon.
Traders said banking shares would likely be the hardest hit by a default with multilaterals since lower confidence could damage Argentina's fragile financial system. Grupo Financiero Galicia (Buenos Aires:GFG.BA - News) shed 10 percent to 0.486 pesos.
Argentine markets had rallied sharply in recent months on hopes the wounded economy might soon recover. The MerVal is up 50 percent this year, while the peso has been stable against the dollar since mid-May after its 70 percent tumble since January's devaluation.