In relation to a possible dispute with the Vice President of the Nation, Cristina Kirchner and her allusion to a possible “import festival”, the Director of the Central Bank remarked: “In Argentina there is overreaction. overacting is the role of political disputes. I always listen to the Vice President, she has extensive management experience and I was an official during her government. Her contribution is valuable. It is not usual, but sometimes she has consulted me, we exchanged opinions on issues related to the Central Bank.”
Finally, the official attributed the difficulty in accumulating reserves to the high level of imports: “We have a high level of imports. Imports have increased by 205% in the first months of the year. This brings difficulties in our exchange balance and in accumulating reserves. What we are asking is not to restrict import quantities, but rather that companies seek financing to import.”
The president of the Central Bank of the Argentine Republic (BCRA), Miguel Pescewill hold a meeting today with Valentín Galardi, president of the Argentine Chamber of Common Investment Funds (CAFCI), “to analyze mechanisms that guarantee the liquidity of Treasury instruments and the support of their prices.”
Source: Ambito
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