Overview

• Pablo Quirno said the Treasury will enter the spot FX market to add liquidity within the official bands ahead of key votes in Buenos Aires province and nationally.
• The Treasury holds about US$1.7 billion at the Central Bank, and private estimates put first‑day sales at roughly US$100–130 million executed by the BCRA on the Treasury’s account.
• Market moves were mixed: the official dollar slipped, the blue rate edged higher, and sovereign bonds fell as country risk was reported near 920 points.
• Economists argue intervening inside the bands erodes reserves and blurs the IMF‑backed regime, with some estimating usable firepower closer to US$900 million given an IMF payment of about US$800 million later this year.
• Former minister Domingo Cavallo condemned the approach as improvisation and urged a reform based on free convertibility, lifting currency controls, and banning monetary financing of deficits.