Journalist: What conclusions do you draw from the meeting you had in the Chamber with Sergio Massa last week?
Natalio Mario Grinman: It was actually lunch. Something that we had scheduled in March of this year and later, due to different agenda issues on both sides, was postponed. We gave him, already in the role of his candidate, a series of proposals. Everything was talked about: the problem in the exchange market, the level of activity, the situation of foreign trade, the formalization of the economy, tax pressure, problems with means of payment, the labor framework. It was a kind of ping pong of questions and Massa was willing to answer practically everything.
Q: What were your main concerns?
NMG: He knows what the position of the Argentine Chamber of Commerce is. What is happening now is nothing that has not happened, to a greater or lesser extent, in electoral processes. And even more so in an electoral process as complicated as this one. But it is a huge sum of irresponsibility. And the House has always maintained it. He is all about a phenomenal broadcast; the remunerated liabilities of the Central Bank, some say they exceed two monetary bases; the shortage of dollars; Today the Central Bank does not have the firepower to intervene in an exchange market as small as the blue dollar. All this is a product of lack of credibility: not only of this management, but of many years since we Argentines have not trusted our currency. And we are right because in the history of the Argentine currency, we changed its monetary sign five times and we changed thirteen zeros. When people are afraid, they take refuge in something that is safe. But there are also other irresponsibility, especially of those who want to direct the destinies of Argentina: one expects more rationality from these people, more temperance. Let them transmit calm. And not that they scare us. Someone who wants to govern has to transmit serenity. Because, if not, the future will be complicated. But it is the reality of Argentina.
Q: In this context, how does the level of activity in commerce reach the elections?
NMG: The sector that is doing best is leather goods. The rest of the sectors, measured year-on-year, are declining. Some around 1.3%, but the average decrease in year-on-year consumption is greater than 4%.
Q: Do you think it can be reversed in the short term, based on the measures implemented by the Government?
NMG: The truth is that we don’t see it as likely. Because this whole panorama of exchange rate runs generates enormous uncertainty among merchants. And many of them are going to mark up prices, because they don’t know if they will be able to replace it and at what price. So, many of them, if they can, take the merchandise out of stock. And that, in turn, generates greater increases. Thats the reality. I do not foresee an improvement in the coming months, nor do I foresee that on December 11 this will change. On the contrary. I think that the year 2024, in terms of inflation, will be at least similar to 2023.
Q.: What path should the candidate who is elected as president take as of December 10?
NMG: The first way is to generate a shock of confidence. With their attitudes, with their expressions. With your team. You need to have a consolidated and credible team. And you also need to have the capacity for dialogue. We need more dialogue, we don’t need to be told what to do or held back. We need to dialogue, not think alike. Agreements must be made. That is fundamental. The president-elect is going to have to demonstrate an enormous capacity for dialogue and an enormous ability to agree. Because if whoever is elected believes he is the owner of the truth, he will not be able to move forward. The support of absolutely all sectors is needed. And that support is only achieved through dialogue and agreements.
Source: Ambito
