Latam 8 July 18

LATAM8 Brief  Reports

 

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Latam 8 July 18

The peso continued depreciating in June after the Central Bank withdrew the USD 5 billion offer at 25 ARS/USD in FX market and forced the resignation of Sturzenegger. Luis Caputo became the new president of the CB, a move to restore credibility. He has reputation as a great trader with skills to deal with financial stress. The positive image of the government is below 40%. While it still has over a year to comeback, the perception that the re-election of Macri was almost ensured is now very questioned.