{"id":10133,"date":"2025-11-11T18:14:57","date_gmt":"2025-11-11T21:14:57","guid":{"rendered":"https:\/\/hanin.org.ar\/?p=10133"},"modified":"2025-11-11T18:14:59","modified_gmt":"2025-11-11T21:14:59","slug":"%ec%98%a4%eb%8a%98%ec%9d%98-%ea%b2%bd%ec%a0%9c11%ec%9b%94-11%ec%9d%bc-2","status":"publish","type":"post","link":"https:\/\/hanin.org.ar\/?p=10133","title":{"rendered":"\uc624\ub298\uc758 \uacbd\uc81c(11\uc6d4 11\uc77c)"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\uc624\ub298\uc758 \uacbd\uc81c<\/p>\n\n\n\n

    \n
  1. \uae4c\ubfcc\ub610, \ub178\ub3d9\uac1c\ud601\uc758 \uc138\uac00\uc9c0 \uc911\uc810 \ubc1c\ud45c
    \uae4c\ubfcc\ub610 \uacbd\uc81c\uc7a5\uad00\uc740 \uc815\ubd80\uac00 2026\ub144 \uc608\uc0b0\uc548\uacfc \ud568\uaed8 \uc81c\ucd9c\ud560 \ub178\ub3d9\uac1c\ud601\uc548\uc774, \uace0\uc6a9 \uacf5\uc2dd\ud654 \ucd94\uc9c4, \uc138\uae08 \ubd80\ub2f4 \uac10\uc18c, \uae30\uc5c5 \uc608\uce21 \uac00\ub2a5\uc131\uc744 \ubaa9\ud45c\ub85c \ud55c\ub2e4\uace0 \ubc1d\ud614\ub2e4.
    \uccab\ubc88\uc9f8\ub294 \ube44\uc6a9 \uc808\uac10 \ubc0f \uc18c\uc1a1 \uac10\uc18c\ub97c \uc704\ud574 \uace0\uc6a9 \ud574\uace0 \uae30\uae08\uc744 \uc2e0\uc124\ud574 \uace0\uc6a9\uc8fc\uc758 \ubd80\ub2f4\uae08 \uc77c\ubd80\ub97c \ub300\uccb4\ud558\ub294 \uac83\uc774\ub2e4.
    \ub450\ubc88\uc9f8\ub294 \uc740\ud589 \uc774\uc6a9 \ubc0f \ud22c\uba85\uc131 \uc99d\ub300\ub97c \uc704\ud574 \uc18c\ub4dd\uc138 \uacf5\uc81c \ud655\ub300\ub97c \ubaa9\ud45c\ub85c \ud55c\ub2e4.
    \uc138\ubc88\uc9f8\ub294 \uace0\uc6a9\uc8fc\uc5d0\uac8c \ud61c\ud0dd\uc744 \uc8fc\ub294 \uc0c8\ub85c\uc6b4 \uace0\uc6a9 \uc81c\ub3c4 \ub9cc\ub4e4\uae30\uc774\ub2e4.
    \uadf8\ub294 \ub610 \ubc34\ub4dc \ud658\uc728 \ubcc0\ub3d9\ud3ed\uc774 \uc720\uc9c0\ub420 \uac83\uc774\uba70, \ud5a5\ud6c4 12\uac1c\uc6d4 \uc548\uc5d0 \uc778\ud50c\ub808\uc774\uc158\uc744 \uad6d\uc81c\uc801\uc778 \uc218\uc900\uc73c\ub85c \ub0ae\ucd94\uace0, 2026\ub144 \uc911\ubc18\uae4c\uc9c0 \uc6d4 \uc18c\ube44\uc790\ubb3c\uac00\uc9c0\uc218 (IPC)\ub97c 1% \uc774\ud558\ub85c \ub0ae\ucd94\ub294 \uac83\uc774\ub77c\uace0 \ub9d0\ud588\ub2e4.<\/li>\n\n\n\n
  2. \ucc44\uad8c \uc0c1\uc2b9\uacfc \uad6d\uac00\uc704\ud5d8\ub3c4 600bp\ub85c \ud558\ub77d
    \uad6d\uac00\uc704\ud5d8\ub3c4\ub294 \ud654\uc694\uc77c 600bp\ub85c \ub9c8\uac10\ud588\ub294\ub370, \ubd84\uc11d\uac00\ub4e4\uc740 \uc544\ub974\ud5e8\ud2f0\ub098\uac00 \uc880 \ub354 \uc27d\uac8c \uc790\uae08\uc744 \uc870\ub2ec\ud560 \uc218 \uc788\ub294 \uc870\uac74\uc5d0 \uac00\uae4c\uc6cc\uc9c0\ub294 \uc0c1\uc9d5\uc801\uc778 \uc77c\ub85c \uac04\uc8fc\ud588\ub2e4.
    \ub2ec\ub7ec \ucc44\uad8c Global\uc740 1.5~2.4% \uc0ac\uc774\ub85c \uc0c1\uc2b9\ud588\ub2e4.
    \ud658\uc728\uc740 \uc548\uc815\uc801\uc73c\ub85c \uc720\uc9c0\ub418\uc5b4 \ub3c4\ub9e4\ud658\uc728\uc740 1,420.50 \ud398\uc18c, MEP \ud658\uc728\uc740 1,458.18 \ud398\uc18c, CCL \ud658\uc728\uc740 1,476.89 \ud398\uc18c\ub85c \uac01\uac01 \ub9c8\uac10\ud588\ub2e4.
    \uc6d4\uc2a4\ud2b8\ub9ac\ud2b8\uc758 ADR\uc740 4%\uae4c\uc9c0 \uc0c1\uc2b9\ud588\uace0, \uad6d\ub0b4\uc758 Merval \uc9c0\uc218\ub294 3% \uc774\uc0c1 \uc62c\ub790\uace0, \uc77c\ubd80 \uc885\ubaa9\uc740 16%\uae4c\uc9c0 \ub6f0\uc5c8\ub2e4.<\/li>\n\n\n\n
  3. YPF, \uc5ec\ub7ec\uac00\uc9c0 \ub180\ub77c\uc6b4 \uc2e4\uc801\uacfc \uc170\uc77c \ud22c\uc790 \uacc4\uc18d
    YPF\ub294 10\uc6d4\uc5d0, \ud3c9\uc18c\uc758 \ud558\ub8e8 17\ub9cc \ubc30\ub7f4\uc758 \uc0dd\uc0b0\ub7c9\uc774 19\ub9cc \ubc30\ub7f4\uc744 \ub2ec\uc131\ud558\ub294 \uc5c4\uccad\ub09c \uc99d\uac00\ub97c \ubcf4\uc5ec\uc92c\ub2e4.
    \ud68c\uc0ac\ub294 \ubc14\uae4c \ubb34\uc5d0\ub974\ub530\uc5d0\uc11c \uae30\uc874 \uc0dd\uc0b0\uc744 \uc170\uc77c\ub85c \ub300\uccb4\ud558\ub294 \uc791\uc5c5\uc744 \uacc4\uc18d \ud558\uace0\uc788\ub2e4.
    \uc774 \uc804\ub7b5 \ub355\ubd84\uc5d0 \ube44\uc6a9 \uc808\uac10\uacfc \uc0dd\uc0b0 \uc18d\ub3c4, \uc790\ub3d9\ud654 \ub4f1\uc744 \ucd94\uac00\ud574 \uc0dd\uc0b0\ube44\ub97c \uc808\uac10\ud588\ub2e4. (\ub2e8 11\uc77c \ub9cc\uc5d0 \ucd5c\ub300 6,000 \ubbf8\ud130\uae4c\uc9c0 \uc2dc\ucd94\ud588\ub2e4)
    \ub530\ub77c\uc11c \uc0dd\uc0b0 \ube44\uc6a9\uc744 \uc804\ub144 \ub300\ube44 45%\ub098 \uc904\uc600\ub2e4.
    ADR\uc5d0\uc11c \uc8fc\uac00\ub294 \ud3c9\uade0 37.20 \ub2ec\ub7ec\uc774\uba70, \uc170\uc77c\uc5d0 \uacc4\uc18d \ud22c\uc790\ud560 \uacbd\uc6b0 43.60 \ub2ec\ub7ec\ub85c \uc62c\ub77c\uac08 \uc218 \uc788\ub2e4.<\/li>\n\n\n\n
  4. 10\uc6d4 \ud1b5\ud654\ub7c9 18\uac1c\uc6d4 \ub9cc\uc5d0 \uac00\uc7a5 \ud070 \ud558\ub77d
    \uc911\uc559\uc740\ud589 \ubcf4\uace0\uc11c\uc5d0 \ub530\ub974\uba74 \ud1b5\ud654\ub7c9\uc740 10\uc6d4\uc5d0 \uc2e4\uc9c8\uc801\uc73c\ub85c 3.1% \uac10\uc18c\ud588\ub294\ub370, \uc774\ub294 1\ub144 \ubc18 \ub9cc\uc5d0 \uac00\uc7a5 \ub450\ub4dc\ub7ec\uc9c4 \uc6d4\ubcc4 \uac10\uc18c\uc774\ub2e4.
    \uc774\ub294 \uc8fc\ub85c \uc120\uac70 \ubd88\ud655\uc2e4\uc131\uacfc \ub2ec\ub7ec \uc218\uc694 \uc99d\uac00\ub85c \uac1c\uc778\ub4e4\uc758 \uc815\uae30\uc608\uae08\uc774 \uc904\uc5c8\uae30 \ub54c\ubb38\uc774\ub2e4.
    \uc815\uae30\uc608\uae08\uc740 \uc2e4\uc9c8\uc801\uc73c\ub85c 2.3% \uac10\uc18c\ud588\ub2e4. (4\uc6d4 \uc774\ud6c4 \uac00\uc7a5 \ud070 \uac10\uc18c)
    \uc911\uc559\uc740\ud589\uc740 \ud398\uc18c \uacf5\uae09\uacfc \uad00\ub828\ud574, \uc7ac\ubb34\uccad \uc6b4\uc601\uc740 \ucd95\uc18c\ub418\uc5c8\uc9c0\ub9cc \uc18c\uadf9\uc801 \ucc44\uad8c \ud68c\uc218\ub85c \ud655\ub300\ub418\uace0 \uc788\ub2e4\uace0 \uc5b8\uae09\ud588\ub2e4.
    \uc608\uae08 \uc778\ucd9c\uc740 \uc740\ud589 \uc720\ub3d9\uc131\uc5d0 \uc601\ud5a5\uc744 \ubbf8\ucce4\uace0, \uc774\ub294 \ub192\uc740 \uc774\uc790\uc728\ub85c \uc545\ud654\ub418\uc5c8\ub2e4.
    \uc774\ub7f0 \uc0c1\ud669\uc744 \uc644\ud654\ud558\uae30 \uc704\ud574 \uc911\uc559\uc740\ud589\uc740 11\uc6d4\ubd80\ud130 \ub9e4\uc77c \ud544\uc694\ud55c \uc9c0\uae09\uc900\ube44\uc728\uc758 \ucd5c\uc18c \ud604\uae08\uc740 95%\ub85c \uc904\uc600\ub2e4.<\/li>\n\n\n\n
  5. \uc815\ubd80, \ubbf8\uad6d\uacfc \ubb34\uc5ed \ud611\uc815 \uac70\uc758 \uc644\ub8cc
    \uc544\ub974\ud5e8\ud2f0\ub098 \uc815\ubd80\ub294 \ubbf8\uad6d\uacfc\uc758 \ubb34\uc5ed \ud611\uc815\uc774 \ucd5c\uc885 \ub2e8\uacc4\uc5d0 \uc788\uc73c\uba70 \uacf5\uc2dd \ubc1c\ud45c\ub9cc \ub0a8\uc558\ub2e4\uace0 \ud655\uc778\ud588\ub2e4.
    \uc6cc\uc2f1\ud134\uc758 \uc544\ub974\ud5e8\ud2f0\ub098 \ub300\uc0ac \uc625\uc13c\ud3ec\ub4dc\ub294 \ubc00\ub808\uc774\uc640 \ud2b8\ub7fc\ud504 \ud589\uc815\ubd80 \uac04\uc758 \ud611\uc0c1\uc740 \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \uc9c0\uc6d0\uc744 \ubc1b\uc73c\uba74\uc11c, \uace7 \uc0c8\ub85c\uc6b4 \uc18c\uc2dd\uc774 \uc788\uc744 \uac83\uc774\ub77c\uace0 \ub9d0\ud588\ub2e4.
    \uc625\uc13c\ud3ec\ub4dc\ub294 \uc138\ubd80\uc0ac\ud56d\uc744 \ubc1d\ud788\ub294 \uac83\uc744 \ud53c\ud558\uba74\uc11c, \uc591\uad6d \uac04\uc5d0 \uc624\ub7ab\ub3d9\uc548 \uae0d\uc815\uc801\uc778 \uc601\ud5a5\uc744 \uc904 \uac83\uc774\ub2e4, \ub77c\uace0 \uac15\uc870\ud588\ub2e4.
    \uadf8\ub294 \ub610 200\uc5b5 \ub2ec\ub7ec \ud1b5\ud654 \uc2a4\uc651\uc774 \uacbd\uc81c\uc801 \uc548\uc815\uc5d0 \uc601\ud5a5\uc744 \ubbf8\ucce4\ub2e4\uace0 \uc5b8\uae09\ud588\ub2e4.
    \uc815\ubd80\ub294 \ud611\uc815\uc744 \ud1b5\ud574 \uae08\uc735 \ud611\ub825\uacfc \uc804\ub7b5\uc801 \uc81c\ud734\ub97c \uacf5\uace0\ud788 \ud558\uace0\uc790 \ud55c\ub2e4.<\/li>\n\n\n\n
  6. \uace8\ub4dc\ub9cc\uc0ad\uc2a4, \uc544\ub974\ud5e8\ud2f0\ub098\uc758 \uc7a0\uc7ac\ub825 \uc774\ud558 \uc131\uc7a5\uc740 \ud3ed\ubc1c \uc5ec\uc9c0\uac00 \uc788\ub2e4\uace0 \uac15\uc870
    \uace8\ub4dc\ub9cc\uc0ad\uc2a4\ub294 \ubcf4\uace0\uc11c\uc5d0\uc11c \ub300\ubd80\ubd84\uc758 \uc2e0\ud765\uad6d\uac00\ub294 \ub2a5\ub825 \uc774\ud558\ub85c \uc131\uc7a5\ud558\uc9c0\ub9cc, \uc9c0\uc18d \uac00\ub2a5\ud55c \uc7a0\uc7ac\ub825\uacfc \ud604\uc7ac \ud65c\ub3d9 \uc218\uc874 \ube44\uad50\uc640 \uc778\ud50c\ub808\uc774\uc158 \uc0c1\uc2b9\uc744 \ubc1c\uc0dd\uc2dc\ud0a4\uc9c0 \uc54a\uace0\ub3c4 \uc5ec\uc804\ud788 \ud655\uc7a5\ud560 \uc5ec\uc9c0\uac00 \uc788\ub2e4\uace0 \ubc1d\ud614\ub2e4.
    \ub354\ub9ce\uc740 \ud655\uc7a5 \uac00\ub2a5 \uad6d\uac00\uc5d0\ub294 \uc544\ub974\ud5e8\ud2f0\ub098, \ub0a8\uc544\ud504\ub9ac\uce74, \ud55c\uad6d, \ud0dc\uad6d\uc774 \uc788\ub2e4.
    \uc544\ub974\ud5e8\ud2f0\ub098\uc758 \uacbd\uc6b0, \uacbd\uc81c\uac00 \uc124\ube44 \uc6a9\ub7c9\uc758 \uc81c\ud55c\uc801 \uac00\ub3d9\uacfc \uad6d\ub0b4 \uc218\uc694 \uc704\ucd95 \ubc0f \uac70\uc2dc\uacbd\uc81c \uc870\uc815\uc758 \uc601\ud5a5, \ub178\ub3d9\uc2dc\uc7a5 \ucde8\uc57d\uc131\uc73c\ub85c \uc7a0\uc7ac\ub825 \uc774\ud558\ub85c \ud65c\ub3d9\ud558\uace0 \uc788\ub2e4\uace0 \uc9c0\uc801\ud588\ub2e4.
    \uadf8\ub798\uc11c \uc218\uc694\uac00 \uac1c\uc120\ub418\uba74, \uc778\ud50c\ub808\uc774\uc158 \uc555\ub825\uc744 \ubc1c\uc0dd\uc2dc\ud0a4\uc9c0 \uc54a\uace0 \uc131\uc7a5\uc744 \ud68c\ubcf5\ud560 \uc218 \uc788\ub2e4\uace0 \ubcf4\uace0\uc788\ub2e4.
    \ub77c\ud2f4\uc544\uba54\ub9ac\uce74 \uc804\uccb4\uc801\uc73c\ub85c\ub294 \uacfc\uc5f4 \uc9d5\ud6c4 \uc5c6\uc774 \uade0\ud615\uc5d0 \uac00\uae4c\uc6cc \ud1b5\ud654 \uc815\ucc45\uc5d0 \ub354 \uc548\uc815\uc801\uc778 \uad6c\uc870\ub97c \uc81c\uacf5\ud55c\ub2e4.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    \uc624\ub298\uc758 \uacbd\uc81c<\/p>\n","protected":false},"author":6,"featured_media":10134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[23,25,61],"tags":[],"class_list":["post-10133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-noticias-argentina","category-informes-economicos"],"_links":{"self":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10133"}],"version-history":[{"count":0,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/posts\/10133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=\/wp\/v2\/media\/10134"}],"wp:attachment":[{"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hanin.org.ar\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}