The Minister of Economy, Luis Caputo, announced this afternoon that the economic plan will have a second stage that starts now and a third stage in which the restrictions will be lifted.
The economic team, led by the Minister of Economy, Luis Caputoand the president of the Central Bank, Santiago Bausili announced two new stages in the stabilization planThe second, which begins now, aims to lower the interest paid by the BCRA. The third will be the lifting of the exchange rate restrictions.
“We are already in the second stage of the stabilization plan, which consists of going to close the second tap of monetary emissionthe interest that the BCRA pays,” said the official. In addition, Caputo assured: “We are not in love with the exchange rate restrictions, we will lift them in the third stage of the recovery plan, although there is no date yet.”
Second stage of the stabilization plan
As part of the announcements, it was ensured that The BCRA will stop issuing money to finance its remunerated liabilitiesas part of the second stage of the stabilization plan that the ultraliberal Government intends, said the Minister of Economy, Luis Caputo, on Friday.
“We want to provide greater certainty and greater solidity so that in some way there stops being anxiety about when the exchange rate trap will be released.”he said, referring to the restrictions in force on Argentina’s foreign exchange market.
Source: Ambito
