The president referred to the reconstruction of the monetary entity’s net worth. And he crossed those who question the results.
In the middle of the presidential tour USAPresident Javier Milei defended the “cyclopean task” carried out by the head of the Central Bank, Santiago Bausili, to clean up the balance sheet of the monetary entity and reaffirmed that they will continue along the same path to “exterminate inflation”.
After questioning those who speak of “exchange delay” and request a new devaluation, the president once again resumed the discussion on monetary policy by commenting on a post on the social network “X” uploaded by the account Austrian School of Economics that celebrated the improvement in net worth from US$34,686 million to US$65,275 million.
Through a short text titled “Defeating inflation”Milei valued the reconstruction of the entity’s heritage that the current management of the BCRA from December to date and took the opportunity to target those who question the methods implemented.
Javier Milei: ““We will continue working to exterminate inflation.”
“When a central bank bankruptcy, the simplest solution consists of a spike in the price level such that the liabilities are liquefied and thus restore the assets, adjusting the entire private sector. Therefore, inflation is given by the slope of the line between that level of blender prices and the present. However, the BCRA in charge of Santiago Bausili decided to go the more complex route cleaning up the balance and minimizing inflation,” he noted.
He then criticized those who question the path adopted to lower inflation. “The unpleasant thing about all this is that either ignorance (even some who boast of knowing about currency have never been able to read a balance sheet while being oblivious to finance) or by intellectual dishonesty they deprive themselves of appreciating such a cyclopean taskregardless of the fact that his criticisms They try to cover up their forecast ERRORS“, said.
The president, true to his style, assured that the Government will continue along the same path to lower the price index. “We will continue working to exterminate inflation from the lives of Argentines…”, he stated.
On Friday, also through social networks, Milei highlighted that since he took office at the Casa Rosada, US$15,000 million dollars have been purchased and he blurted out “to think that when we arrived the net reserves were negative by US$12,000 million and dollars were lost every day.” The truth is that, despite that amount, The BCRA accumulated US$8,660 million in gross reserves.
Source: Ambito
