{"id":69648,"date":"2026-05-26T14:26:00","date_gmt":"2026-05-26T17:26:00","guid":{"rendered":"https:\/\/safras.com.br\/es\/?p=69648"},"modified":"2026-05-26T14:26:00","modified_gmt":"2026-05-26T17:26:00","slug":"di-stefano-descarta-escenario-de-crisis-cambiaria-en-2027","status":"publish","type":"post","link":"https:\/\/safras.com.br\/es\/di-stefano-descarta-escenario-de-crisis-cambiaria-en-2027\/","title":{"rendered":"Di Stefano descarta escenario de crisis cambiaria en 2027"},"content":{"rendered":"<p>El <strong>analista Salvador Di Stefano<\/strong> sostiene que no ve para el pr\u00f3ximo a\u00f1o, electoral, una <strong>crisis cambiaria<\/strong> en Argentina, donde los mercados esperan una evoluci\u00f3n del d\u00f3lar similar a la inflaci\u00f3n.<\/p>\n<p>Sostiene el especialista econ\u00f3mico, que la circulaci\u00f3n monetaria es muy parecida a la que hab\u00eda en noviembre del a\u00f1o 2023 en t\u00e9rminos reales, y con un escenario 2025 en donde los argentinos acopiaron en 12 meses cerca de U$S 45.000 millones, un hecho in\u00e9dito para la econom\u00eda Argentina.<\/p>\n<p>\u00abLa particularidad de esta compra de d\u00f3lares se resume en tres aspectos, el primero es que nunca vimos una compra de esta magnitud en un per\u00edodo de 12 meses, el segundo es que dichos d\u00f3lares mayoritariamente quedaron en el sistema y no migraron al exterior, el tercero y m\u00e1s importante, es que, a pesar de esta compra masiva de d\u00f3lares, la Tesorer\u00eda sigui\u00f3 mostrando super\u00e1vit fiscal en sus cuentas p\u00fablicas\u00bb, explica.<\/p>\n<p>Agrega que desde ahora en adelante,<strong> las autoridades del BCRA con el pasivo monetario m\u00e1s ordenado<\/strong> van por el camino de limpiar el activo del BCRA en donde todav\u00eda hay U$S 80.690 millones de t\u00edtulos p\u00fablicos, y hay que transformarlos en d\u00f3lares constantes y sonantes.<\/p>\n<p>Seg\u00fan Di Stefnao, de cara al a\u00f1o 2027 el BCRA se \u00abmuestra con una fortaleza pocas veces vista en los \u00faltimos a\u00f1os, a esto hay que sumarle que el gobierno mantiene el super\u00e1vit fiscal, con lo cual no vemos un crecimiento en la cantidad de moneda, con lo cual quedan pocos pesos en el mercado para enfrentar una nueva corrida, y si los agentes econ\u00f3micos desean dolarizarse tendr\u00e1n que vender activos financieros o bienes, con lo cual habr\u00e1 un impacto sobre la tasa de inter\u00e9s que har\u00e1 replantear el escenario de mantener stock de d\u00f3lares, con un costo de financiamiento elevado\u00bb.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El analista Salvador Di Stefano sostiene que no ve para el pr\u00f3ximo a\u00f1o, electoral, una crisis cambiaria en Argentina, donde los mercados esperan una evoluci\u00f3n del d\u00f3lar similar a la inflaci\u00f3n. Sostiene el especialista econ\u00f3mico, que la circulaci\u00f3n monetaria es muy parecida a la que hab\u00eda en noviembre del a\u00f1o 2023 en t\u00e9rminos reales, y [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":65069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[444],"tags":[100],"commodity":[46,47,49],"class_list":["post-69648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias-financieras","tag-dolar","commodity-maiz","commodity-soja","commodity-trigo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Di Stefano descarta escenario de crisis cambiaria en 2027<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/safras.com.br\/es\/di-stefano-descarta-escenario-de-crisis-cambiaria-en-2027\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Di Stefano descarta escenario de crisis cambiaria en 2027\" \/>\n<meta property=\"og:description\" content=\"El analista Salvador Di Stefano sostiene que no ve para el pr\u00f3ximo a\u00f1o, electoral, una crisis cambiaria en Argentina, donde los mercados esperan una evoluci\u00f3n del d\u00f3lar similar a la inflaci\u00f3n. Sostiene el especialista econ\u00f3mico, que la circulaci\u00f3n monetaria es muy parecida a la que hab\u00eda en noviembre del a\u00f1o 2023 en t\u00e9rminos reales, y [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/safras.com.br\/es\/di-stefano-descarta-escenario-de-crisis-cambiaria-en-2027\/\" \/>\n<meta property=\"og:site_name\" content=\"SAFRAS &amp; Mercado\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-26T17:26:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/safras.com.br\/es\/wp-content\/uploads\/2025\/04\/BCRDOLAR1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"829\" \/>\n\t<meta property=\"og:image:height\" content=\"466\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Julieta Marino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Julieta 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