As Ámbito anticipated, the novelty announced tonight has to do with the implementation of what the minister characterized as “a $200 dollar settlement mechanism“which, according to what he said, “will be in force only from September 5 to 30”.
At the same time, he highlighted that, after a lot of hard work, an agreement was reached to speed up the liquidation of foreign currency. In this way, with the announcement of the new “soybean dollar”, the minister pointed out that the representatives of the field promised to liquidate US$5,000 million in the month.
“The agreement that we have established foresees a US$5 billion settlement for September,” he said.and remarked that “u$s1,000 million will enter in the first 72 hours”.
In addition, he announced that the Necessity and Urgency Decree “provides that those producers who adhere to more than 85% of their holdings in this program will be able to continue participating with us in benefit programs.”
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Argentine News.
The announcement aims to strengthen the weak central bank reserves, but also, according to Massa, recompose the relationship with the sector. “We want our producers to understand that our government is accompanying them,” said the minister.
Argentina is one of the major players in protein production at a global level, Massa considered, so “having a working relationship, of synchronism and synergy with the agribusiness sector is very important.”
The mechanism announced tonight will take effect from this Monday, September 5, until the last day of the month.
What does the Central Bank say about the soybean dollar
The President of the Central Bank, Miguel Fish, He explained that with the decree “the agricultural producer will see all the measures reflected on the soybean quotation board, which will be in the order of 70 thousand pesos, this is a market where there is supply and demand” . “Then there is going to be a special wheel on the electronic open market where this dollar is going to be quoted, which has a fixed value of 200″, he remarked.
“There the banks are going to sell the dollars that the exporters contribute at that value. Then there will be an account that will be linked to the evolution of the dollar where the producer with the pesos that he obtains will be able to constitute that deposit,” he closed. .
Source: Ambito
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