The Finance Secretary participated in a meeting of ministers and presidents of central banks in Brazil. What signals did he give regarding the fiscal deficit?
The Secretary of Finance, Pablo Quirnopresented at the 64th Mercosur Summit, the economic plan that the government of Javier Milei has been carrying out since December 10 and highlighted the importance of stabilizing the economy, organizing fiscal accounts, and reducing inflation in order to “Re-establishing a path of long-term sustainable growth in Argentina“.
Quirno participated this Sunday in the Meeting of Ministers of Economy and Presidents of Central Banks of the bloc, under the Pro Tempore Presidency of Paraguay in the framework of the 64th Mercosur Summit. Delegations from Argentina, Brazil, Paraguay, Uruguay and Bolivia were present.
According to a statement sent by the Ministry of Economy, during the meeting, the issue of regional macroeconomic context. Quirno spoke alongside Paraguay’s Minister of Economy, Carlos Fernández Valdovinos; his counterpart from Uruguay, Azucena Arbeleche; and Brazil’s Secretary of International Relations, Tatiana Rosito.
“The current state of the economies was discussed. For his part, Secretary Quirno elaborated on the economic plan that has been carried out in Argentina since December 10, highlighting the importance of stabilizing the economy, putting fiscal accounts in order, and “reduce inflation in order to reestablish a path of long-term sustainable growth in Argentina,” the statement said.
A new key tender for the Economy
The Secretariat headed by Quirno will face the Wednesday between 10 and 15 the first tender of July and the first after the announcement of the creation of the Monetary Regulation Letters (LRM) which seek the transfer of passive passes from the BCRA to the Treasury in order to “close the second tap of monetary issuance.”
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“In the auction (of Treasury bills) on Wednesday, the government will be able to take another step in the dismantling of remunerated liabilities of the BCRA. If successful, the Treasury Bills will be able to debut and the government will have greater room to raise rates, in exchange for a higher fiscal cost,” said economist Roberto Geretto of Fundcorp.
Source: Ambito
