24hoursworld

Domingo Cavallo asked the Government to create a free market for the dollar and eliminate the stocks

Domingo Cavallo asked the Government to create a free market for the dollar and eliminate the stocks

The former Minister of Economy, Domingo Cavallo, asked to advance on both campaign promises of President Javier Milei. “Freedom must be spread as quickly as possible in all areas,” he said.

Mariano Fuchila

The former Minister of Economy, Sunday Cavallo, asked this Tuesday to move as quickly as possible towards the creation of a free market for the dollar and the elimination of the stocks. He said it during 41st Annual Congress of the Argentine Institute of Finance Executives (IAEF) which will be closed by President Javier Milei.

“For the moment Milei has postponed things he said during the campaign. I am surprised that they have not created a free market for the dollar. That means eliminating the stocks for all monetary and financial transactions and leaving it exclusively for commercial transactions,” Cavallo noted.

In tune with the liberal ideas of the Government, Cavallo suggested that it should “extend (freedom) as quickly as possible in all areas. In that sense, I believe, for example, that in monetary and exchange matters we must also move as quickly as possible in the direction of freedom.”

image.png

Former minister Domingo Cavallo speaking during the 41st meeting of the IAEF.

Former minister Domingo Cavallo speaking during the 41st meeting of the IAEF.

@IAEF_official

He explained that it would not be a single market because for a time it will be necessary “maintain restrictions and the obligation to liquidate the foreign exchange of imports of goods in that controlled market and from there supply imports.

But, in Cavallo’s opinion, there must be a free market “for all other types of transactions, People have to be able to buy the dollars or currencies they need for payments abroad and also in this way the doors will be opened for foreign capital to enter, which is essential to be able to progress.”

Inflation and economic recovery

In another section of his presentation and when asked about when the economic recovery will occur, he reiterated that To grow it is necessary to free the exchange market as explained above.

Regarding inflation, I anticipate that Price Start’s last measurement two or three days ago gave “what would be the monthly inflation rate of the prices they capture online, which are basically prices of goods, 3.5, less than 4%so it is obviously a very significant drop in the inflation rate“.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts