The Economist Carlos Melconian analyzed the economic program that is being carried out Luis Caputo and gave him some unexpected advice regarding the dollar and the exchange rate. He also referred to the tough economic data in the first quarter.
“I’m going to do the Government a favor: calm the anxiety, because it is not fideo y tuco for dollarization. Today there is little chance of getting out of the trap in an orderly manner. “All of this is going to take time,” she said in a radio interview.
“Calm the anxiety because this is going slow. You need reserves and an alternative exchange rate regime to the one that exists today,” the economist insisted on Radio Miter.
Melconian pointed out that “the financial program ended” and “he already gave everything he had to give” and indicated that this transition should not be confused with an economic program.
What Carlos Melconian said about growth
Melconian described that in Argentina there are two discussions: what is called ‘rebound’, that is, “if it is going to be a V, an L, a J”, and another larger discussion, which is “when it returns to the origin of where it started to fall, how Argentina grows again”.
“The recovery, the rebound, is going to take time. Then it will be mixed with the 2025 election, because they will need the trend to be positive. The rebound is going to be very slow,” he warned.
In this sense, he added: “The Government today is stagnant regarding the roadmap and that plays against the speed of recovery.”
Carlos Melconian’s word about the first quarter numbers
For the economist, the results of the first quarter, in economy, growth and employment, are not attributable to this administration. “It was going to be very difficult to enter such a slowdown”he acknowledged.
“For the future we can discuss everything. In terms of the numbers for the first quarter I have nothing to say. The numbers were expected,” he said. Regarding what is coming for the second semester, he indicated that “quantitatively it can be better“.
Source: Ambito
