“You have to present an economic plan to the Fund and an economic plan to society” and pointed out that the government has to communicate to the organization “how you are going to pay the debt that you asked for yourself” and to the people “how I am going to grow and with what resources am I going to pay for it “. In that sense, he affirmed that this is still “not clear.”
For Agis, who has long insisted that the agreement with the Fund was the most urgent thing to resolve, “The agreement is a necessary condition because otherwise the country functions as if it had a financial blockade. There is no world without telling the countries that we are going to return the money we have just asked for.”
“When you look at the economic fundamentals, there are no reasons for Argentina to be low on dollars. The reality is the confidence of the market, the people and the investors,” he said. “The problem is that when there is profit without doing anything, people do not produce but rather start ringing,” he said and again specified in the agreement: “It is important to make an agreement with the IMF without making the previous mistakes. get an agreement with the IMF that doesn’t kill the engines of growth, that’s a good thing. “
At the same time, the economist considered that it was a mistake not to have closed the negotiation last year: “the pandemic was not an excuse, it was a reality, so one could have the global legitimacy to go to the Fund and say” you are not going to send for an adjustment in the middle of the pandemic; today the pandemic is beginning to fade away. “
On the other hand, regarding the government’s measures, the economist stated that “uit does not correct things in economics in times of abundance, in times of scarcity nothing can be corrected “. Regarding the restriction on the purchase of tickets, Agis did not hesitate to propose its approval: “The measure of restriction on quotas for products in dollars is a measure of pot bottom. You could not continue with that subsidy. The measure is fine. “.
The position of the markets
“The financial market has the memory of a dog, it quickly forgets things, but if you hit a dog 10 times with a stick when it sees a stick it will scare it; Argentina is the tenth debt event it has in history , the market agrees and today is seeing is believing. Any Argentine investor, institutional, a retiree or a Wall Street fund, he waits with dollars in his pocket, not with pesos. That wait is harmful for the country. ” Agis pointed out.
The economist, in dialogue with the TN channel, stated: “We still have time to have an agreement with the Fund that allows us to get out of this situation, but not much. There is no magic here. It is necessary to speed up the agreement for December.”
Source From: Ambito
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