The President made an assessment of his first year in office, where he highlighted the reduction of the spread between the official dollar and the parallel ones.
In the framework of the evaluation of his first year as president, Javier Milei highlighted the closing of the gap between the official dollar and parallel exchange rates. In parallel, the president highlighted the reduction of the fiscal deficit and inflation.
“Today the exchange rate gap is practically dead. Something like this had not happened in the country for 16 years.“Milei said in his speech at Casa Rosada, accompanied by members of his Cabinet.
In this regard, it is worth noting that, Prior to December 10, 2023, the spread between the wholesale exchange rate and the CCL was 157%, while this December 10, 2024, the indicator closed at 5.9%. The contribution of money laundering, the direct intervention of the Central Bank (BCRA) in prices and the inflexibility of the Executive Branch in its exchange rate policy (which has been generating a strong delay in the official dollar) are some of the reasons that explained this dynamic.
On the other hand, the libertarian celebrated that “today inflation is a thing of the past and that we do not have a trade deficit or negative reserves.” “A year ago, a fiscal degenerate (in reference to Sergio Massa) wanted to issue a 13-point deficit to win the election. Without deficit there is no debt or emission or inflation“, he deepened.
In addition, he stressed that “there is a trade surplus growing by leaps and bounds and that the country risk is below 700 points.” Regarding the latter, he said that “Lowering the country risk allows us to lower the interest rate, facilitates investment and generates jobs.“.
Source: Ambito
