“Let’s start with the pandemic. Ask why the government rejected 12 million Pfizer vaccines in 2020. A dark decision that condemned between 20 and 30 thousand Argentines to an early death. If you get an answer let us know, Argentines are still should one,” he added in relation to the vaccination campaign.
“You speak of a miracle but it is biased to look at the recovery from one of the most dire quarantines in the world. According to WEO, Argentina will have one of the worst results between 21 and 24 years. With extraordinary harvests, such a dismal performance is truly a miracle,” the economist said ironically in a series of 22 tweets.
In turn, he listed, from his perspective, what were the management errors of the Alberto Fernández government: “You speak of growth policies. You may want to ask why children were kept out of school for a year and a half ( I’ll tell you why: to please the unions). The earning capacity of an entire generation decreased by 12% for life” and added: “You talk about innovation (maybe it was a joke). High wealth taxes have produced an exodus of physical, business and human capital that Argentina had only seen during dictatorships. This government has destroyed innovation in fintech, software, transportation, etc.”
Regarding the public debt, he added: “It goes back to the policies of the Macri administration. But then he forgot to ask some questions. For example, the primary deficit that Fernández inherited was barely 0.4% of GDP, and this year , despite the “miraculous” recovery, it will be 3.3% of GDP. I don’t see the improvement.”
Then he mentioned the restriction imposed by the Central Bank on card fees: “You should ask what they are doing with this money. You will find out, for example, that they are paying half of the vacation expenses of rich Argentines. When you pay that with the inflation tax, you are giving to the rich and taking from the poor. I see nothing in favor of the poor in financing public spending with the inflation tax. Check the money printing numbers from last December, they will send a chill down your spine. It is not surprising that poverty is now at 40.6% (Macri’s in 2017 was 25.7%)”.
In relation to the public debt and the debt in dollars with the IMF, he stated: “It echoes the misconception that the IMF program increased the debt. But the debt levels in 2017 and 2018 are similar. The program was a reinvest with a cheaper creditor. I can’t see any harm in that. In fact, Martín Guzmán extends the date of the debt every day“.
Then, he recalled that Joseph Stiglitz visited the headquarters of the Central Bank the same day that the exchange trap was opened in the administration of Mauricio Macri: “The day we lifted the exchange rate controls with negative net reserves, he visited the Central Bank and praised the move. In fact, we had a celebratory lunch that day!”
Finally, the economist advised him: “I suggest you recover a little of your own spirit. Since you are the most respected economist in the Argentine government, I hope you have a more critical view. Helping them down the wrong path with false arguments is not the way to help.”
Source From: Ambito
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