The economist stated that “the economic program is inconsistent in dynamic terms.” He also explained that for endogenous dollarization to occur, Argentines must “flood the country with dollars” voluntarily.
The economist and former friend of Javier Milei, Diego Giacominisaid that “the economic program, both from the monetary and fiscal side, is inconsistent in dynamic terms.” Furthermore, when speaking of a kind of endogenous dollarization, he said: “Milei’s government, which speaks ill of socialism, is practicing macroeconomic socialism.”
In dialogue with “Sylvestre Tomorrow” on Radio 10The economist reasoned that “for endogenous dollarization to occur, all Argentines who have savings in dollars stored outside the system, all together decide to take their dollars out onto the streets to flood Argentina with dollars.”
In this regard he added: “Milei’s government, which speaks ill of socialism, is practicing macroeconomic socialism.”
He also said that he believes “that many people will not be willing to mortgage their future so that (Luis) Caputo can collect taxes.” “If tax collection falls, the fiscal surplus is put at risk and credibility is reduced. The economic plan fails and must be changed,” he said.
The economist tried to make a recommendation to the President. “I would tell Milei to stop playing with monetary and macroeconomic socialism because that fails, he has to open the cepo as soon as possible.” “He has to open the cepo now, it could go wrong but if he leaves it with this economic policy, when he opens it later it will have its costs,” he concluded.
Source: Ambito
