The Economist Carlos Melconian considered that in Argentina there is exchange delay and questioned the president Javier Milei for not yet having defined an exchange and monetary regime.
“That official dollar at $800 in December, as soon as this Government took office, brought to today should be worth between $1,100 and $1,500, if it had accompanied the inflationary impact. That would reflect what happened from December 10 to today,” he emphasized.
Melconian came out to the Milei intersection, who in a meeting with businessmen from the Inter-American Council of Commerce and Production rejected that there is an exchange delay and questioned the economists who maintain the need to appreciate the dollar.
“That speech was full of inaccuracies”complained the economist, for whom the discussion “should not take place in a confrontational climate.”
In statements to the program “This morning”, on Rivadavia radio, the former president of Banco Nación justified his position in relation to the exchange delay.
“When there are difficulties in exporting, when it is impossible to compete with the rest of the world, when it is much cheaper to buy abroad, that reflects, for example, the lack of competitiveness of the economy. So, it is out of the question to devalue – to avoid the exchange rate delay – it is a martingale to survive. It is not the appropriate solution,” he assessed.
And he added: “What we are discussing is whether the time and dynamics of the program implemented warrants that inflation, which is taking so many steps out of the devaluation rate, is a debate that should take place now or later, when everything is more settled.”
Furthermore, he warned: “The first day that a trade deficit occurs here, everyone will suffer a mess, because this debate will end, which is fueled by the horrible recession that Argentina is suffering, which does not even allow imports to raise their heads.” .
At your discretion: “The discussion that Argentina is expensive in dollars perhaps began before its time. This country is condemned to have an exchange rate where the local currency is strong and the dollar is low, because the excess currency is the dollar” .
Source: Ambito
