The Secretary of Finance went out to ratify the validity of the exchange bands. He said he is going to buy on the floor and sell on the roof. He explained that the treasure will intervene in specific situations to handle liquidity. “We do not pursue any exchange rate level,” he said
He Secretary of Finance, Pablo Quirno, He ratified on Wednesday the validity of the exchange bands, as established as of April of this year, within the framework of an agreement with the International Monetary Fund (IMF) as long as he clarified that the announcement oficial on treasure intervention in the market will be “punctual” Pto address problems of lack of liquidity.
“The exchange policy is very clear, it is given by our program with the IMF, where we have recapitized the BCRA, We buy dollars on the band’s floor, we sell dollars on the roof of the band “, Quirno said in an interview with the news channel A24-
Quirno explained that “We have seen a specific situation of liquidity that we are managing with our own resourceswhich we generate from the fiscal surplus. “
“We are generating liquidity conditions So that there is no one who error or intentionally takes me $ 40 pesos of the dollar with a with a position of US $ 30 million, “he added. In this regard, he blamed “a bank of Chinese origin” of having tried to raise the value of the dollar.
Meanwhile, the Secretary of Finance indicated that before announcing the measure there was talk with the IMF authorities who approved the new operation class.
In that sense, the official considered that “evidently The periods of uncertainty make everyone more conservative and retracts “. “Consumption is retracted, investment but we believe it is for a limited period. This is a circumstantial issue,” he explained.
On the other hand, he denied the possibility of a devaluation in the future, as anticipated by futures market contracts: “There is absolutely no doubt about What will work, because we have the conviction Regarding the electoral contest, we have the north very clear, “he said when referring to the economic program ..
Quirno considered that the country is “attending to a series of actions premeditated by the opposition that turns 12 laws in Congress that go to the center of fiscal balance and we are seeing illegal espionage operations that use recordings of a year to generate damage, and we have a president who suffered an attack last week. ”
In relation to the increase in interest rates, which in the case of shorter lecaps reaches 75% in the last tender, said that “SOn daughters of political conflict “. Therefore, he considered that the country has to prepare for political conflict, and therefore, uncertainty, “Continue until the end of October.”
Source: Ambito
