“Today the economy and society ask for more money in the streets and the Central Bank asks for less. And society endures. In this sense, the concern should be the currency crisis and not the debt crisis “, said Alvarez Agis,
For the former number two of Axel Kicillof in the Palacio de Hacienda, the focus of concern is on the exchange rate gap – which currently stands at around 80% – “because it generates many negative impacts.” Explained that when the spread is high “short-term returns are high and, when this happens, the roll of public debt becomes complicated”. With which, “Either it is adjusted or it is printed. And if the State prints, it increases the gap”, warned.
On the other hand, the current director of the consulting firm PxQ also stated that “With a relatively reasonable economic program, you can help lower inflation.” Recognized that “Inflationary inertia was associated with issues of rising international food prices.” And he opined that “The market tends to overestimate inflation when there are exchange controls.”
Finally, the economist emphasized that the reduced volatility it is “The key to financing a fiscal deficit that gradually converges to equilibrium, and then to a surplus voluntarily, by the local financial market.”
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