Shortly after taking office as Minister of Economy, Sergio Massaimplemented the Import System of the Argentine Republic (SIRA) It replaced the Integral Import Monitoring System (SIMI).
De Mendiguren acknowledged that the new mechanism “is not working well”, after repeated complaints from industrialists due to the delay in authorizations for the acquisition of products abroad.
The main claim is the payment terms that are enabled, which reach up to 180 days and are not accepted by the suppliers.
In another vein, the official defended the multiple exchange rates that coexist in the Argentine economy because the country is “in an emergency.”
“No one wants to have 20 types of changes. When we are in an emergency or a crisis is when these tools are used,” plot.
“You have to do it at certain times,” he said, recalling that former Economy Minister Domingo Cavallo implemented a similar measure with “competitiveness plans” when he tried to save convertibility during his tenure in the Alianza government.
About the effectiveness of the program “Fair pricesHe maintained that “this measure does not solve the inflationary problem by itself” and pointed out that “it is a silver bridge until the other measures take effect.”
De Mendiguren emphasized: “Measures of this type deflate inflationary expectations. Inflation has a lot to do with structural and the same with expectations. Many economists believe that this relationship is 50 and 50.”
He also stressed that this program is “voluntary” and insisted that it is a tool while progress is made in the tax system.
In this sense, he affirmed that another objective is that prices begin to be weighted by “future expectations (by the 4% adjustments) and not by the past.”
Source: Ambito
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