“If you look at reality, exports have been growing at very strong levels. In Argentina there is a trade surplus. The BCRA has been accumulating reserves. Debt payments have fallen due to the restructuring,” he said, adding that even “The market itself anticipates a future dollar of $ 107 or $ 108 pesos” by the end of the year. “Not even the market is anticipating a devaluation at the end of the year,” he said.
The head of the Treasury portfolio pointed out that today Argentina has “conditions that allow us to maintain the exchange policy that we have already drawn up.”
When asked about the reasons for the versions that proclaim a devaluation, Guzmán affirmed that it is due to certain sectors that seek to destabilize. “At times of elections there are vested interests and people who have interests in making noise and destabilizing,” he said.
Inflation
The expectations created across certain sectors lead traders and producers to tweak the price lists in order to anticipate a possible jump in the dollar. “When devaluation expectations are generated there are behaviors of those who believe that prices are going to rise,” he said, making it clear that if you want to put a brake on inflation you must understand that “It is not a task only of the government, it is collective, where the private sector also has to participate.”
Regarding the policy of freezing prices implemented by the Ministry of Internal Trade led by economist Roberto Feletti, Guzmán made it clear that it is a measure “that has the support of the entire economic cabinet.” Government, ”he said.
Regarding the tools to control the resolution, he said that “all the instruments that we have” should be used since “if there are a few who do not want to cooperate in a disinflation process, the State cannot sit idly by.”
At the same time, he took the opportunity to shoot at the food sector, where a few companies concentrate the production of most of the products. “They are the ones that have benefited the most from the economic recovery,” said the minister, frankly criticizing the companies’ questions regarding the 90-day freeze.
Increase
The task of reducing inflation is one of the most important of Alberto Fernández’s economic cabinet. However, after the impact of the pandemic and the economic crisis generated by Juntos por el Cambio, the recovery of activity is at the top of priorities. By the way, Guzmán considered that currently “the recovery is strong” and announced that “Not only will the forecast be fulfilled, but it is possible that growth will be higher.”
“The purchasing power of wages is recovering,” he said, speaking of the need to increase the income of the working sectors, in a country that accumulates 40% poverty.
The civil servant affirmed that for the Government it is recovery “when it is equitable”, with which the increase of the wages must accompany the recovery of the activity. In that sense, he considered that the country “is going down that path and we have to continue deepening.”
IMF and Together for Change
“There are always sectors playing politically.” The minister’s words questioned the role played not only by the opposition of Together for Change but also by dominant sectors, among which make up “a structural set of interests.”
For the minister, there is “one side that is on the side of improving the situation of our people and on the other they have other interests.” “That is what matters when choosing who leads a country project. When we throw the right to the right, they immediately take their dogs out to bark. Otherwise they could not win any election,” he said.
“The position held by some JxC leaders, such as Vidal and Macri, is anti-Argentine, against the interests of the country”Guzmán shot tonight in the interview conducted on the C5N program Minuto Uno, and took the opportunity to recall that “the main problem left by JxC is the loan with the IMF.”
Regarding the credit of US $ 47,000 million granted by the IMF, the minister considered that his destiny was used to “finance the Macri campaign” and now the government of Alberto Fernández is facing the arduous task of restructuring it, as happened with private bondholders. “What we are looking for is to refinance it in more comfortable installments, understanding that kicking the board is also a problem”he said, in clear response to sectors of the Frente de Todos who question an agreement with the international organization.
The national government “has taken important and significant steps, always with the aim of reaching an agreement that will take care of Argentina,” Guzmán remarked regarding the support obtained by numerous countries regarding the revision of the surcharge. However, he criticized those who press for agreement: “Who you have to ask to hurry is the IMF. Ask him to eliminate the interest surcharges, instead of rushing the government to agree with the IMF, if the fund has not yet reviewed this position. “
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