Juan Carlos de Pabloeconomist and very close to the president Javier Mileipointed against the International Monetary Fund (IMF)calling them ”shameless” If the organization suggests that the Argentina apply a new devaluation.
When asked about those promoting a new strong depreciation of the peso, he said: “Every day you have analysts, banks, the IMF. The IMF is unforgivable. They are shameless.“.
“The Fund wants to save responsibilities, they are a bureaucracy”, added de Pablo. Furthermore, he explained that the Executive Branch “knows that if it makes a devaluation jump, not physically, but the Government ends,” by supporting the strategy that the Minister of Economy, Luis Caputo, is carrying out.
“These are very clear definitions that explain what they are doing. No Minister of Economy is going to call you to tell you that he is going to devalue“, he added in statements to the program “No la ven”, hosted by Diego Schurman on Splendid radio.
He also stated that “There is no rush to remove the exchange rate restrictions” and that “those who are in trouble are the people who predict something different from what I have been predicting.”
Regarding economic activity, de Pablo highlighted that “all the statistical data tells you that in April you hit rock bottom and you are recovering,” and added: “If you look at the numbers, the INDEC informed you that in the first quarter it fell 2.6 % GDP compared to the last quarter of last year,” he indicated.
”It’s stupid that they’re going to give the Nobel Prize to Milei”
The economist also referred to the president’s comments, where he explained that if he is successful, he should be awarded the Nobel Prize in Economics: “A year in advance, the Foundation sends letters with the candidates, five are chosen and they are given a monograph on why they would be awarded. “It’s stupid that they’re going to give the award to Milei, I don’t know why he said it, it doesn’t matter.”.
In addition, de Pablo pointed out that if people are afraid for their money, they should continue with the fixed term: “If the fear is that the bank will take your money, I continued with the fixed deadline“.
Regarding the promises made during Milei’s campaign, de Pablo said that “when you are President, the tasks are dictated by circumstances. It would be dramatic for him to be a prisoner of what he said when he was a candidate.” “When you have an executive responsibility, you have to deal with reality“he indicated.
And he recalled that Argentina is “a presidential country, so that it is not, you have to kill him, have him have a heart attack or be impeached. Moral: he is going to be President. Do I like him? I like him, don’t you like him? That’s your problem.”
Luis Caputo announced a plan to move towards zero emissions
“To the zero deficit we are going to add zero emission,” said the Minister of Economy, Luis Caputo, In a press conference he gave this Friday together with the president of the Central Bank (BCRA), Santiago Bausili, confirming what was anticipated by Ambit, in which he referred to what he called “the second stage of the stabilization plan.”
In substance, The total elimination of the BCRA’s paid liabilities will be sought, which will pass to the Treasury, making the Government’s fiscal commitment more demanding.The head of the Treasury Palace stated that These measures “will have a positive impact on people because they reinforce disinflation.”
Following the announcements, sources from the International Monetary Fund they pointed out: “We welcome the measures announced by the minister of economy, Luis Caputo, and the president of the Central Bank, Santiago Bausili, to strengthen the monetary policy framework.”
Caputo began his presentation by assuring that the Government received “the worst inheritance in history”, with a deficit of 5 points in the Treasury and 10 in the Central Bank. But he said that “the crisis could have been avoided” and I add “We received a patient in intensive care and today we are in recovery.”
The minister considered that under these conditions “a shock program was required and that is what we did.” He recalled that “we were in fiscal balance from day one, something unprecedented” and stressed that “The fiscal deficit was always at the heart of the problem” Argentine economy. In this sense, he highlighted the “enormous conviction of the President” to carry out this policy, but also taking into account the situation of the most vulnerable sectors.
Source: Ambito
