“Although last week the central bank was able to buy an estimated 225 million dollars in the market, meeting the IMF’s goal seems very difficult. Net reserves are approximately 3,300 million dollars using the methodology of said organization, but the ‘target’ for the end of June is 6,425 million“, estimated Roberto Geretto, from Fundcorp.
“There is little more than a month left to almost double the net reserves, something almost impossible,” he said. However, the Central Bank affirms that it will be able to meet the objective.
On the other hand, the experts are already beginning to look closely at the attitude of the dollars due to the inflationary acceleration: “The inflationary acceleration of the last period reflects not only the existing pressure from the side of the fiscal and monetary fundamentals, it is also a warning sign for the incipient repudiation of the pesos”, stated the Mediterranean Foundation in a report.
“In real terms, we Argentines kept almost 20% more “silver in our pockets” in 2020 than in 2019. However, 2022 aims to resemble 2019 in terms of the volume of currency held by the public”estimated.
“The most important thing is macroeconomic consistency to avoid a next crisis. Another is the synchrony between fiscal and monetary policy. One cannot be more ambitious than the other, but they have to go hand in hand and be synchronized. (…) What matters is the general balance, not the partial one,” added Hernán Lacunza, former Minister of Finance, in radio statements.
“It is difficult to assess the prospects for economic growth, because the current scenario is dichotomous,” added VatNet Research and estimated that “there could be positive growth, albeit at a slower pace, if financial challenges are overcome; but there could also be dips and big ups and downs if you can’t get over them.”
Source: Ambito
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