On Monday, representatives of the Fund assured that the agency hopes “to work with Minister Silvina Batakis and her team to continue supporting Argentina”, after the resignation of Guzmán as head of the Ministry of Economy.
The new minister was sworn in to her new position in a brief act in the White Room of the Casa Rosada, where President Alberto Fernández swore her in.
The new minister has already held meetings with her Productive Development counterpart, Daniel Scioliand with the president of the Central Bank, Miguel Pescewith whom he agreed to maintain a work agenda.
Asked about the price increase, Batakis stated that “wages are not the cause of inflation” and that the purpose of the Government is “not only to recover what was lost (in real terms) but also to gain” purchasing power, although he warned that “this is going to take time.”
“It is going to be difficult and we are not going to recover 100 percent of that loss in a few months.“, declared Batakis in El Destape Radio, in statements in which he recalled that “in the last year of the previous administration, wages fell a lot and inflation was 54 percent.”
Regarding the dollar, the official considered that “it is at competitive levels” at its current official price and that the Multilateral Exchange Rate (average price calculated in comparison with the currencies of the main trading partners) “is at the levels it should be”.
Batakis indicated that the country needs “exporters to export more”, that “they do not speculate on what they are going to do next month” and that for that it has a Multilateral Exchange Rate that is “at competitive levels like the other Argentine moments”.
Source: Ambito
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