The head of the Treasury Palace targeted the media because “people turn on the TV and there is talk all the time about a change of regime,” which generated a high level of dollarization. In addition, he asked that they vote for LLA and considered that Sunday’s elections are more important than the 2027 presidential elections.
The Minister of Economy, Luis Caputoagain ruled out a change of regime, “regardless of the election result”. In that sense, he pointed out against the media because “people turn on the TV and there is talk all the time about a regime change.” This led to reaching “a level of dollarization more or less as we are now, which measured in terms of deposits in dollars over pesos, we are at 52%.” However, he stated that there were already three experiences during the mandate of La Libertad Avanza (LLA) and then “the exchange rate corrected 10% downwards”.
“After the elections nothing is going to happen, the scheme is going to remain the same. We are going to maintain it regardless of the result. Today the BCRA is capitalized, we have solid fundamentals and an exchange rate at a reasonable level. If the exchange rate were behind, we would not have a record of exports,” insisted the head of the Treasury Palace.
Along these lines, he explained that the “exchange rate is a reflection of your economy”, and with the macro ordered, the currency can be stronger, which is why he pointed out against comparisons of the exchange rate of LLA and that of Mauricio Macri. “If you compare the exchange rate with that of Macri’s exit from the stocks, which had a deficit, we could afford to have a lower exchange rate than that because the economy is much more solid. However, the exchange rate is 15% higher and no one says anything,” he stressed.
“Why do people buy? Because they believe there is a change of regime. What is the reason for the behavior? People turn on the TV and there is talk all the time about a change of regime. It has already happened to us three times in our administration (that people buy) and we reached a level of dollarization more or less as we are now. Measured in terms of deposits in dollars over pesos, we are at 52%. Each time that happened the exchange rate corrected 10% downwards.“added Caputo in his presentation at the Córdoba Stock Exchange.
For Caputo, Sunday’s elections are more important than the presidential elections of 2027
The Minister of Economy assured that, in his opinion, “Sunday’s elections are more important than the 2027 presidential elections”. Along these lines, he argued that for the 2027 elections the alternative to LLA should be “reasonable” and led by the governors.
“Governors, for the most part, are reasonable. Even the governors who are within Peronism do not think like Kirchnerism, they join together because they have a power project, but they think much more like us than Kirchnerism.. So by 2027, I hope there is a proposal that does not involve the political volatility that this midterm election implies that generates all these problems that we are having. It cannot be that the alternative is communism,” Caputo emphasized.
Continuing his friendship with the governors, he said that a Peronist stopped by his office in the Palacio de Hacienda and told him: “Keep going like this Toto, don’t give anyone a hard time.”
Previously, the official stated that the world is watching Argentina: “A non-Kirchnerist vote that does not go to LLA today makes me very sorry for the Argentines, because it is a lost vote. I came from the G20 and IMF meetings and I couldn’t believe it, the world is watching these elections, they want to see our people revalidate this course“he implored.
“There are a lot of investments that have already been announced but there are a lot more that are waiting for this validation. So what do people ultimately want? Better incomes, salaries and jobs. That can only be achieved with more investment. Let’s not lose that possibility, because the possibility of attracting foreign direct investment within a period of two years, as is happening, is something unprecedented. That takes many more years. We are facing a historic opportunity, let’s not waste it,” he argued about his request to let people vote for LLA.
Source: Ambito
