The Government of Javier Milei seeks to comply with the commitment made to the International Monetary Fund (IMF) to eliminate exchange restrictions “in the short term”
The Minister of Economy, Luis Caputo.
Photo: Juan Vargas – NA.
The government of Javier Milei seeks to fulfill the commitment acquired before the International Monetary Fund (IMF) to eliminate exchange restrictions “in the short term.” For this reason, in Balcarce 50 they estimate that the lifting of the stocks Its deadline is the month of June.
“We aspire to get out of the trap in April, May, June at the latest,” sources with an office in Casa Rosada indicated Ambitwhile pointing out that it is “a conviction of the President.” To achieve this objective, the Government observes three variables.
Firstly, the ruling party is betting that, after a summer of “price disclosure“For workers, in March and April there will be winds of change in the economy, which will allow a decrease in inflation for the coming months.
Another piece of information that the Government views favorably is the field. After one of the worst droughts in its history, things seem to be falling into place in agriculture and foreign exchange earnings are expected for the sector in the order of US$30 billion.
Finally, there are the reserves of the BCRA. Since December 13, the monetary entity added a total of US$6,145 million, which they plan to “at least double between now and March.”
Another of the objectives that the Government proposed for this year is a “comprehensive tax reform.” The same, as this media learned, will be presented to Congress through a bill, that “will be addressed once the omnibus law is approved.”
However, the economic calendar for this year will not include dollarization promised by Milei. The Head of State confirmed that this is the “final step” of the economic process undertaken since he took over as head of the Government last December, but he ruled out that it could be carried out this year because “adapting the financial system can take a floor of one year” delay.
In an interview given to the “Cenital” portal before starting the official trip that took him to Israel, Milei also assured that dollarization “is not on the agenda” of issues that he analyzes with the International Monetary Fund (IMF).
“Dollarization (strictly speaking, the free competition of currencies) is the final step of an entire process that begins with the sanitation of the BCRA (Central Bank of the Argentine Republic) to then advance in the reform of the financial system and then in the end the monetary entity is liquidated, Milei commented.
Source: Ambito
