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A group of people watched over the Central Bank on the eve of Javier Milei’s inauguration

A group of people watched over the Central Bank on the eve of Javier Milei’s inauguration

The followers of the elected president placed four funeral wreaths at the door of the establishment located at 225 Reconquista Street, City of Buenos Aires. They also sang the national anthem with candles in their hands.

“Bye central scam. Thank you Milei”, read one of the signs carried by young people in favor of dollarizing the Argentine economy. The militants, after placing the funeral wreaths, sang the national anthem while holding candles.

The vigil was marked by songs. The militants, carrying flags and banners, expressed their desire for the Central Bank to be eliminated, arguing that this measure would be key to eradicating the chronic inflation that has affected Argentina for decades.

The “Economics in a Minute” group distributed papers as an obituary. In it they indicated that the BCRA was “an institution marked by interventionist policies and inflationary emissions”. “His legacy will be a reminder for economic reconstruction, longing for a more prosperous future for Argentina,” they stated in the funeral notice.

“Your sacrifice calls us to reflect on the need for more responsible financial policies,” they pointed out and stressed that not all of the BCRA’s activity was negative, since “the joys were great.” [que realizó el BCRA] during the 90s″, as they expressed.

Central Bank: what will be done with the arrival of Javier Milei

Although the elected president reiterated that he will close the central bank Argentina so that the national monetary policy becomes dependent on the decisions made by the US central bank, which is called the Federal Reserve (FED, for its acronym in English), has not yet specified when it will be.

This Saturday Santiago Bausiliwho will be the new president of the BCRA, stated that It will not close it, at least in the short term. “As long as I am here, the Central Bank does not close,” said one of the main supporters of Luis Caputo, Minister of Economy appointed by Milei and former head of the BCRA and former Minister of Finance during the government of Mauricio Macri.

Since he was elected president, on November 19, countless versions have circulated regarding what he will do with the economy, in general, and, in particular, with monetary policy. Milei decided to go back on the announcement that he had made in the middle of the campaign to appoint Emilio Ocampo at the head of the BCRA with the task of “closing it.”

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Corrido Ocampo, one of the main ideologues of dollarization, and other figures such as Carlos Rodríguez, who was vice minister of Economy in the government of Carlos Menem and former head of Milei’s council of economic advisors, were also relegated. dollarization is an unknown.

With Caputo’s entry already fully confirmed, although the currency exchange scenario should not be ruled out, entered a stage of uncertainty. One of the first decisions that Caputo made on behalf of Milei was to go to dialogue with the banks, to whom he assured that there will be no dollarization in the short term.

Source: Ambito

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