Despite the instability framework, the Minister of Economy said there will be no changes in the program because “it is solid.”
Within the framework of an adverse week for the Government, both political and economic, the Minister of Economy, Luis Caputodefended the program and said they are going to “ sell up to the last dollar on the band of the band. “This Thursday, the wholesaler, which is market reference, ended at $ 1,474.5at the top of the upper band and the Central Bank had to go sell U $ 379 million to contain the climbing of the currency.
Seeking to give a message of tranquility for the markets, the official stressed that “there are enough dollars for everyone “and said There will be no changes in monetary policy because the “program is solid”. “We fully trust the program. We are not going to move, there will be no changes. We are going to sell to the last dollar in 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 agree with the background and because in addition, It would make no sense not to do it”, He stressed and pointed out that the current dollar level is located in competitive values.“ We are almost 15% above the dollar of the Macri stocks. It is a high multilateral exchange rate, ”he said on the Streaming Canal.
On the other hand, he said that from the government they are working to guarantee the debt maturities from January to the bonds and said: “If they really believe that we do not defaulte in 2023, when we arrived and there were only two ranks, we will do it in the current situation, know that it does not.”
“There is a phenomenal political attack combined with a very solid macroeconomic situation,” said Luis Caputo
The head of the Treasury attributed economic instability to the political context and warned that “a medium bizarre thing in Argentina” is being seen. Caputo said: “There is a phenomenal political attack that It 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 bankwith controlled inflation “and attributed the fluctuations of recent weeks to the political framework, just over a month for the legislative elections.
“Markets see politics, They are scared and react accordingly, without so much analysis of the fundamental but seeking to cover themselves“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. “
Source: Ambito
