The renowned Marina Dal Poggetto said that the current value of the dollar is away from the spirit of the agreement with the International Monetary Fund (IMF) which the government recently signed. In parallel, he was skeptical about a soon return to debt financial markets.
The executive director of the Consultant Ecogo was one of the star speakers of one of the panels of the Summit 2025 Organized by IAEthe School of Business of the Universidad Austral. The talk, titled “Macro and microeconomic keys for sustained growth” It had the objective of discussing the interaction between macroeconomic stability and sustainable development and also had the participation of the former Minister of Productive Development, Matías Kulfas, the researcher Juan Carlos Findo and Pabló Dragún, director of the Center for Studies of the Argentine Industrial Union (UIA).
Dal Poggetto said that “in macro the economic program had started well, but then more focused on politics than on medium -term stability.” In that sense, he pointed out that The ruling is making all its tools available to keep the exchange rate controlled, and thus inflationdespite the recent adjustment that occurred in the exchange scheme next to the new agreement with the International Monetary Fund (IMF).
“The agreement with the IMF was with a dollar and a higher rate. In October the government should resume the guidelines of that agreement“The economist suggested, attacked by President Javier Milei in some public statements.
Debt: Do the latest news move the return to international markets?
Regarding access to external financing, he expressed some doubts about his feasibility in the medium term, more taking into account the last three bad news for the country: The does not improve in the MSCI qualification, the unfavorable ruling in the US against the State for the expropriation of YPF, and the JP recommendation. Morgan to abandon the “Carry Trade” and position yourself in dollars. “The 2027 is far,” he slid.
Dal Poggeto called to have caution, even assuming that the path taken is correct, since “rebuilding currency and credit is a long processand that is what allows to channel savings in investment, determinant of productivity. “
“Argentina wants a Swedish state, with Paraguay’s taxes. We have to agree on what state we want and how we finance it. The last time he thought about it was in the 90 ‘, for an economy without inflation, different from the current one, “he closed his speech.
The contributions of Matías Kulfas, Juan Carlos Findo and Pablo Dragún
For its part, Kulfas highlighted in his “Speech” el “unavoidable paper of the State to increase productivity“, responding to the general motto of the Summit 2025 of the IAE:” Conditions for a productivity leap in Argentina. “” Then we can discuss the instruments and where the intervention mechanisms are going, “he said.
The former official warned that “A country that disregards public works is condemned to having lower productivity“And he called to generate a better chain between the primary and industry sector, promoting for example the development of suppliers.
About the latter also emphasized Find. “More than agricultural dichotomy vs industry, dichotomy is differentiated products vs not differentiated products“He said, referring to the fact that the aggregation of value can, and must, to be given both in primary goods and in industrial goods and services.
In that line, the member of the Interdisciplinary Institute of Political Economy (IEP) of the University of Buenos Aires (UBA) marked as a fundamental challenge of the country to improve the understanding of external demand. “We do not know how to sell to the world, and for that we need public policies. There are things where the State has to be, but doing things well, “he transmitted.
In turn, Dragún He reviewed the main restrictions that the industry finds to improve its productivity. Specifically, and beyond the obvious difficulties derived from macro volatility, he mentioned the high logistics costto the Low credit leveland the Antiquity of the regulatory framework for labor relations.
Source: Ambito
