The Minister of Economy acknowledged before a forum of businessmen in Mendoza that “there are prices that are expensive in dollars.” He also anticipated the signing of the agreement with the IMF.
The Minister of Economy, Luis Caputo, admitted to a business forum in Mendoza that “it is true that there are expensive prices in dollars”, although he assured that “devaluate is not the solution “, Meanwhile, he confirmed that he is close to closing an agreement with the IMF.
“On the contrary, the solution is that these prices fall and That will happen with fewer taxes and more competition “said the head of the Treasury Palace, thus rejecting the idea of ”exchange delay.”
In that sense, he considered that “The solution is to lower prices and go down with less taxes and more competition “while indicating that in the industries that are exposed to import competition “Prices are going to go down, as already happened with cars. ”
Thus, it ruled out the possibility that the government advances with some modification of the exchange policy at the expense of an agreement with the International Monetary Fund (IMF).
Caputo said that The IMF is not demanding from the Argentine government a devaluation of the peso And as long as he indicated that the officials of the Palace of Finance have already agreed on how the economic program continues.
In this regard. The official reiterated that the proposal for a new program with agency COmar would in the first four -month period due to the legislative procedure that the IMF bureaucracy is needed.
“There will be an agreement in the first four -month period. We agreed with the economic program. The IMF never asked for a devaluation ”, Caputo said who reiterated that there will be fresh funds to recapitize the assets of the BCRA.
Confirmed that Operation will serve to rescue non -transferable letters that appear in the Central Bank asset. The letters are like a promissory note of reservations that were extracted from the entity more than 15 years ago.
In that sense, Caputo indicated that the IMF money “goes to the treasure and then repurchase debt that the BCRA has of the treasure.”
Source: Ambito
