In his radio remarks, Carrera said: “What he is telling us is that The few reserves that it has been accumulating in a genuine way, as the Fund calls it, will be used to absorb pesos or to intervene in the market.”
“But that is the formal excuse. What it is really going to do is intervene in the market to reduce the gap, and obviously this is a short blanket: if it uses the reserves for that, it will not have them for the function that the reserves fulfill, which is to guarantee the functioning of the economy and the connection with the rest of the world, and the possibility of lifting the restrictions,” he added.
Along the same lines, the economist assured that “what they are doing The Fund is not going to like it. For every 100 dollars you exported, 80 went to the BCRA and 20 to the CCL. Now, of those 80, the smaller the gap, the less you will have left with reserves in the BCRA. It is a very bad scenario.”
Carrera: “There is a great contradiction”
Career expressed his dissatisfaction with the announced measures and warned of discontent on the part of the IMF. “For me there is a great contradiction between what they announced and the agreement with the Fund. I do not understand why the Fund, which was so critical of the previous government’s interventions, would allow them to actually do what they are saying in this case,” he said.
“The movie is kind of weird because They announced one thing, which is to have a free hand to intervenebut to intervene, according to them, using the trade balance they have left, but they are not having much trade balance because we have gone through two catastrophic months,” he concluded.
Luis Caputo detailed phase 2 of the Government: “The gap will tend to collapse”
This weekend, the Minister of Economy, Luis Caputo, He detailed phase 2 of the Government within the framework of the “zero emission” and expanded on the information about the second part of the economic plan that will begin this Monday: “The gap will tend to collapse.”
In the framework of the second part of the economic plan, Caputo highlighted the decrease in inflation as the main result that would be generated by the reduction of the exchange rate gap: “This whole new monetary scheme reduces inflation. As inflation falls, the gap follows suitso what will end up happening is that contrary to what many think, the cash settlement will tend to converge with the official dollar. This will allow a much simpler and less traumatic exit from the currency controls for Argentines.”
The Government of Javier Milei began the second part of its economic plan. This morning, the president himself announced a change in dollar operations in the Single and Free Exchange Market (MULC). He also anticipated that this week they will resolve the issue of the “puts” and downplayed the exchange rate tension of recent days, which led the blue dollar to trade at $1,500.
Source: Ambito
