The Minister of Economy, Luis Caputosought to send a message from tranquility to the market and assured that they are working to guarantee maturity payments January and June of next year. He emphasized that they are not going to define and that “the program is solid.”
The official went directly to the bonists, said he understands “his worry” But he said that from the economic team they are working to guarantee the payment of the next maturities. “We assumed that in January we were not going to have refinancing. Two or three months ago we are working to pay the maturities of the bonds.”held.
“We will seek to guarantee not only the payments of the expiration of January but also those of June too. We still do not announce it because we do not have it completed. If they really believe that, we do not defaulte“He added.
“We are going to sell to the last dollar on the roof of the band,” Caputo said in the middle of the exchange tension
In a new interview in the Las Tres Anclas streaming program, Caputo referred to the economic instability that was lived in recent weeks and warned that “a medium bizarre thing in Argentina is being seen.” In that sense, he said: “There is a phenomenal political attack that is combined with a very solid macroeconomic situation that was never“
“The macroeconomic situation is not consistent with the reaction of the markets,” said the official.
Anyway, he stressed that despite the context, the government managed to maintain “the fiscal surplus, with a capitalized central bank, with controlled inflation” and He attributed the fluctuations of recent weeks to the political framework, just over a month for legislative elections.
“The markets see politics, they scare and react accordinglywithout so much analysis of the fundamental but looking to cover yourself“said the head of the Treasury.” People are afraid that ‘those people’ can return. They have a very pragmatic and effective tool that is the vote. He who has some fear can express it in October. “
Despite the setbacks, Caputo He stressed: “We fully trust the program. We are not going to move, there will be no changes. Let’s sell to the last dollar on the band’s roof. BCRA dollars like those we have bought serve to defend the roof. It is a solid program. There are enough dollars for everyone and it is the scheme in which it was agreed at the time. “
Along the same lines, he added: “We will continue to always defend the exchange band, because it is what we agreed with the background and because in addition, it would not make any sense not to do it”, Stressed and pointed out that the current dollar level It is located in competitive values. “We are almost 15% above the dollar of the Macri stock exit. It is a high multilateral exchange rate.”
Luis Caputo said that the Government could prosecute the rejection of vetoes to the laws of university and pediatric emergency financing
In another section of the interview, Caputo He was consulted on the impact they could have, if they are finally promulgated, the laws of University and Pediatric Emergency Financingwho were vetoed by the president Javier Milei although the decision of Executive power was rejected by the Chamber of Deputies This Wednesday. However, he clarified that the fiscal deficit is not in danger and analyzed to prosecute the insistence of the Congress.
The minister pointed against the opposition for trying to “destabilize” the government and said that “they never thought about the power of the fiscal anchor.”
“Now that they realized, they do what Peronism normally does: ‘You have to attack the heart of the problem, the fiscal balance, because obviously it works,” Caputo lashed out and continued: “Thus they began with this battery of laws that obviously will not end up affecting the fiscal balance. We are going to look for legal tools and if they are not legal, the items will have to rearrange as indicated by the Financial Administration Law, which Congress does not respect. If you add an expense you have to say how you are going to finance itthey don’t. It is a sample more than eloquent that all they want is to break the fiscal balance“He launched.
In turn, he criticized the previous administrations and pointed out that “the items they use are all the same as they adjusted when they were government. Now they grabbed their sensitivity and come together to hit you“
“We have from legal tools to the economic maneuvers that we can do but the fiscal balance is not negotiable,” said the official.
Source: Ambito
