The libertarian explained his policies to unify the exchange rate and when he will do so. Find out more.
After his victory in the runoff, the president-elect, Javier Mileiassured that before lifting the exchange rate the “problem of the Leliqs“, since if we do not do so the country could fall into a hyperinflation.
In statements to Radio Rivadaviathe libertarian emphasized: “If you don’t solve the problem of Leliqsyou are going to hyperinflation. You have to solve the problem of the Leliqs and then you release“said the leader of Freedom Advances.
Javier Milei in the debate.jpg
Asked about how much the price of the dollar in that case, the future president: “The prices will be determined by the marketbut first you have to correct the stock imbalances because the dynamics of adjustment without correcting stock imbalances can be lethal and lead to hyperinflation.
Milei He reiterated that he is willing to “apply the manual to the letter to fix the problems” and marked the axes of his Government: “Small state committed to honoring commitments, respect for property rights, an open position towards the world on commercial terms.”
milei.jpg
What are Leliqs?
The Leliqs It is one of the topics that was mentioned in the presidential debate prior to the general elections with great emphasis.
Making a little history, The Leliqs were created in January 2018, during the presidency of Federico Sturzenegger at the head of the BCRA and in order to keep the monetary issue stable. in order not to generate inflation. That is to say, they are debt securities issued by the Central Bank to dry up the peso market and prevent them from going to the dollar.
Central Bank BCRA_Petunchi
Ignacio Petunchi
Currently, the participation of the Leliq and the repos in the BCRA balance is around $20 billiona very high level, especially with respect to the current volume of reserves, which are around US$21 million.
Source: Ambito
