International specialists are more cautious and maintain that the Board will deal with the second review and the goals by the end of September in those objectives where the information is available, but that this does not mean a combined second and third review.
It should be remembered that this Friday the agency’s board of directors will meet to evaluate the staff agreement for the review of the second quarter and, as usual, a subsequent disbursement of some US$3.9 billion will take place.
Businessmen
Minister Massa was informed of this IMF decision when he was having lunch with the directors of the Argentine Chamber of Construction and, unable to hide his joy, he shared the news with them. With this approval -the one of reserves- one of the most difficult goals to meet, the disbursement at the end of the year is guaranteed.
And, for the difficulties faced by the Argentine economy, not having the uncertainty of whether or not reserves can be accumulated, when dollars continue to be a scarce commodity, is not minor. What allowed the accumulation of reserves was the “soybean dollar” whose liquidation exceeded even official expectations.
In any case, foreign exchange continues to be scarce, and for this reason, the Minister of the Economy guaranteed the businessmen that “it will privilege the few dollars that there are for the industry”, Gustavo Weiss, head of CAMARCO, said at the end of the lunch.
In this regard, the business entity also told the head of the Palacio de Hacienda that “whatever consumer goods are, in general, and obviously tourism is one of them, they should have a dollar that does not compete with the needs of the industry”giving signs that they agree with some decision being made regarding the tourist dollar.
The minister acknowledged that “they are studying the issue” and that it will be part of the “package of measures linked to foreign trade” although he did not specify To what amount could the tourist dollar rise?
In principle, it seems that the idea that prevails most in the economic team is to establish a value similar to Cash with Liquidation that fluctuates in the order of 300 pesos, but still, there is no definition.
Regarding the rise in prices, Massa told them that his idea is to achieve a price agreement with the 27 manufacturers of mass consumption products.
The construction businessmen also raised some sectoral issues, such as, for example, the one referring to the updating of the prices of public works that are affected by the high inflation rates.
Massa confided in them that he hopes that inflation “go down little by little” and stated that, once the economy is stabilized, he hopes that “By the middle of next year inflation will drop substantially.”
Source: Ambito
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