The economist will no longer be part of the Council surrounding the President. Days ago he expressed questions about the direction the Government is proposing.
As anticipated by Ámbito, the economist Fausto Spotorno will no longer be part of the president’s team of advisors Javier Milei, after he expressed questions a few days ago about the direction the Government is proposing.
Last week, Spotorno referred to the latest announcements on the new monetary regime and considered that “the financial market expected something more” from the press conference in which the migration of debt from the Central Bank to the Treasury was announced and pointed to the exchange rate trap as the main focus of interest for entrepreneurs and investors.
“The government came out with an announcement on Friday night when the market was expecting something more. It was a very technical announcement. The measurement is not wrong, it is correct, but very technical“It was a very bad announcement, of a measure that is not bad, but it could have been made with a statement from the BCRA,” said Spotorno.
The economist insisted that “the announcement was exaggerated and then it became a very technical issue,” while acknowledging that “it is true that there is anxiety about the exchange rate restrictions.”
“There are many companies that have to plan their lives and are worried about what will happen next. It is true that there is anxiety, but it is also true that the Government says ‘I still don’t have a BCRA ready to get out of the restrictions’,” said the professional in statements to Radio Rivadavia.
Regarding the official dollar rate and the parallel markets, Spotorno said that “The market has seen that the gap has not narrowed since mid-May and reserves have risen very little.”
“So there is a chance that they will become more nervous. The path to get out of the currency controls with the reserves increasing and the gap narrowing is a clear path, going in the other direction the two variables begin to show the tension between the private sector that needs to get out of the currency controls and the Government that cannot. And the tension is more dramatic,” he stressed.
His remarks were not well received by the President, who had him among his main advisors, and now he decided to expel him.
Source: Ambito
