Fact Check: El Ministerio de Economía lanzó esta mañana una ofensiva de compras sobre el mercado para atenuar el impacto de la crisis desatada por la Criptoestafa que promovió el presidente Javier Milei. El ministro Toto Caputo está exprimiendo a fondo el fondo soberano de la Anses desde que tomó el control del organismo con su ex broker Fernando Bearzi. Apenas abrió la rueda ordenó al Fondo de Garantía de Sustentabilidad (FGS) que haga compras masivas de acciones y de bonos, para atenuar el castigo sobre los activos argentinos que viene de Wall Street, donde la reputación de Milei se hizo añicos por el caso $LIBRA. Para que no le de negativo el CCL y el MEP se estima que el Banco Central y la Anses tienen que quemar unos 650 millones de dólares y otros 350 millones de dólares en el Merval, para salir empatados", explicó a LPO un agudo operador financiero. En efecto, la intervención del Gobierno quedó clara al poco de empezar la rueda: este lunes el bono AL30D operó en toda la jornada 152 millones de dólares y este martes al mediodía ya llevada negociado 110 millones de dólares, cifra que luego reapidamente superó los USD 150 millones. La burbuja El otro dato que confirma las intervenciones de Caputo, que Economía no informa, es la fuerte caída de reservas de este martes: El Banco Central perdió más de USD 380 millones de reservas, pese u que informó que compró USD 171 millones. Las reservas brutas de hecho volvieron a perforar su piso y se ubican apenas por encima de los USD 28.000 millones. Las líquidas como se sabe están unos USD 10 mil millones abajo. La creciente desconfianza del mercado hacia la consistencia del modelo de Milei y Caputo tuvo este martes un primer signo muy visible: la calificadora internacional de deuda S&P Global Ratings rebajó este martes a Default Selectivo la deuda en pesos de la Argentina. Tomo esa medida ante el fracaso parcial de los dos ultimos canjes de deuda en pesos que lanzó Caputo, en los que le quedó cupo sin completar. Para decirlo fácil, el mercado ya no está tan convencido que Caputo pueda pagar todas las obligaciones que emite. Es que en el último año Caputo canjeó deuda en pesos por 78 mil millones de pesos, con un ritmo de canjes que se aceleró brutalmente a inicios del 2025. S&P destaca en los argumentos de su cambio de calificación, que la cada vez más intensa apelación al canje de títulos indica los crecientes problemas del gobierno de Milei para pagar sus obligaciones.

The Economic Response to the $LIBRA Crisis in Argentina: An Analysis of Recent Claims

Introduction

In recent days, Argentina has faced significant economic turmoil, primarily attributed to a cryptocurrency scandal involving President Javier Milei. The Ministry of Economy, led by Minister Toto Caputo, has reportedly initiated aggressive market interventions to mitigate the fallout from this crisis. This article aims to analyze the claims surrounding these interventions, the state of Argentina's economy, and the implications of recent actions taken by the government.

Background

The economic landscape in Argentina has been tumultuous for years, characterized by high inflation, currency devaluation, and a lack of investor confidence. The recent scandal involving the cryptocurrency known as $LIBRA has exacerbated these issues, leading to a sharp decline in market confidence in President Milei's administration. In response, Minister Caputo has been tasked with stabilizing the economy, which has included significant interventions in the financial markets.

Analysis

The Claim of Market Interventions

The claim states that the Ministry of Economy has launched a "buying offensive" in the market to cushion the impact of the $LIBRA crisis. It is reported that Caputo has directed the Sovereign Fund of the National Social Security Administration (ANSES) to make substantial purchases of stocks and bonds. This action is purportedly aimed at counteracting the negative sentiment affecting Argentine assets, particularly in international markets like Wall Street.

Financial operators have suggested that the Central Bank and ANSES may need to expend approximately $650 million to stabilize the financial instruments affected by the crisis. The urgency of these interventions is underscored by the significant trading volumes of bonds, such as the AL30D, which saw transactions exceeding $150 million shortly after the crisis unfolded.

Reserve Losses and Market Confidence

The claim also highlights a concerning trend: a substantial loss of reserves by the Central Bank. Reports indicate that the Central Bank lost over $380 million in reserves, despite announcing a purchase of $171 million. This discrepancy raises questions about the effectiveness of the government's interventions and the overall health of Argentina's financial reserves, which have reportedly fallen to just above $28 billion, with liquid reserves being approximately $10 billion lower.

The downgrading of Argentina's debt rating to "Selective Default" by S&P Global Ratings further illustrates the growing skepticism among investors regarding the government's ability to meet its obligations. This downgrade was attributed to the government's failure to complete recent debt swaps, indicating a lack of confidence in Caputo's management of the economy.

Evidence

To substantiate these claims, we can examine recent reports and data from financial institutions and market analysts. The trading volumes of bonds and the reported losses in reserves are critical indicators of market activity and investor sentiment. Furthermore, the downgrade by S&P Global Ratings serves as a significant marker of the international community's perception of Argentina's economic stability.

According to a financial operator quoted in the original claim, "the market is no longer convinced that Caputo can pay all the obligations that he issues." This sentiment reflects a broader concern that the government's reliance on debt swaps and market interventions may not be sustainable in the long term.

The Role of the $LIBRA Crisis

The $LIBRA crisis has been pivotal in shaping the current economic environment in Argentina. The scandal has not only damaged the reputation of President Milei but has also led to a broader crisis of confidence in the Argentine economy. The government's response, characterized by aggressive market interventions, suggests a recognition of the severity of the situation.

Conclusion

The claims surrounding the Argentine government's recent economic interventions in response to the $LIBRA crisis highlight a complex interplay of market dynamics, investor confidence, and governmental strategy. While the Ministry of Economy's actions may provide short-term relief, the underlying issues of economic instability, high inflation, and a lack of investor trust remain significant challenges.

As the situation evolves, it will be crucial to monitor the effectiveness of these interventions and the broader implications for Argentina's economic future. The recent downgrade by S&P Global Ratings serves as a stark reminder that without a sustainable economic strategy, the path to recovery may be fraught with difficulties.

References

1. Search Google with this query: Ministerio de Economía Argentina compra acciones bonos crisis criptoestafa Javier Milei Toto Caputo S&P Global Ratings deuda
2. Media Bias/Fact Check - Source Checker. Retrieved from Media Bias Fact Check