“Despite the rumors, it is unlikely that the government will carry out a devaluation of magnitude as it has been circulating in some media and social networks,” said Roberto Geretto, of Fundcorp.
“Devaluing without a plan is not only expensive in terms of activity and inflation, but in the current context it can lead to a spiral. Also, devaluing 50% in the face of a gap of more than 100% may not taste like much. Thus, devaluing can be part of the solution or part of the problem, it all depends on the plan, if there is one,” he said.
It should be remembered that Rubinstein will join the technical mission that will travel to Washington, prior to the tour that the Minister of Economy will undertake Serge Massa in the United States, to attract investment and foreign exchange.
This week the official will make direct contact with the managing director for the Western Hemisphere, Ilan Goldfajn, to begin agreeing on a basic outline of negotiations.
In that sense, aims for the financial institution to endorse the goals for the first half of the year and approve them in general terms.
Rubinstein, who was formally appointed to his post last Friday, will travel to the US capital “a few days before” the minister, with the chief adviser of his team, Leonardo Madcur, and the director of the National Institute of Statistics and Census ( Indec), Marco Lavagna, official sources told Télam.
Also, as indicated, the Secretary of the Treasury, Raúl Rigo, will be part of the technical delegation.
This group of officials will focus on the technical meetings that the Government will hold with the staff of the International Monetary Fund (IMF) for the current program with the organization, before the meeting that Massa will hold with Kristalina Georgiev, on September 12, according to Massa’s tentative agenda in the United States, which will also take him to Houston.
In Washington, Massa also plans to meet with regional authorities from the Treasury and the White House, with businessmen and investors with interests in the country, with the Vice President of World Bank Operations, Axel van Trotsenburg; and with the head of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, among others.
Source: Ambito
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