In the midst of negotiations with the International Monetary Fund (IMF), the Minister of Economy, Luis Caputosaid that the amount of the loan that Argentina negotiates is defined by the agency’s directory. On the details of the agreement, the official said that “the amount is defined by the Board of Directors” and clarified that “genuinely” they do not know what the final number will be.
On the other hand, Caputo defended himself from the criticisms received after President Javier Milei signed a decree of necessity and urgency to Authorize negotiations With the IMF and said that “these agreements never went through Congress.” “The technical part is something that the Executive negotiates”, sentenced.
In television statements with channel A24, the official compared the differences between this agreement and others that Argentina has signed in the pastsuch as the one he agreed in 2018 during the presidency of Mauricio Macri. “In a classic agreement with the fund, one goes typically when the macroeconomic situation is disorderly. Then the fund asks for certain conditions, which are essentially a fiscal order and a monetary orderand it gives you some time for this, to get to a primary fiscal balance. And, for that, it gives you money so that you can continue with your operations, “said the economist.
“It is different in this case. This time is different because all that fiscal and monetary adjustment that the fund asks for, We already did last year. Then we are in an atypical case. In the background I never went on to go to a program in where the president and economic team of the country is more orthodox than them. We put ourselves more difficult than those typically puts the background, “the minister differentiated.
In this scenario, Caputo said that the New agreement with the IMF aims “It is having a healthy currency and continuing with the disinflation process“, with your sights mainly in”Save the BCRA“
“The BCRA always had an imbalance in the very large weight market. It always issued many more pesos than people demanded. So all those pesos that were typically going to buy dollars or buy goods that generated that inflation or that rise of the dollar. Nostor during this year we have strongly balanced that monetary excess that we inherited,” he celebrated and assured that the management of Milei “The Lebacs and Leliqs in 76%.”
Thus, the economist said that the agreement is sought that “the weights are well supported, for gold, dollars, and not for colored paper that there are in large part of the BCRA.” And then, he sentenced: “There will be dollars, left over.”
Luis Caputo’s definitions on the stocks to the dollar
In addition to the agreement with the Fund, the minister also gave important about the Government exchange policy and the future of the stocks to the dollar. “There is the debate of whether Argentina is a country that can float or not,” Caputo slipped.
“Flowing means that you have a free exchange rate and that it moves as the market wants. In Argentina that typically went wrong because we always had deficit. How did you finance that deficit? With emission. That emission of pesos people did not demand it, so there was excess pesos, which turned to the dollar. The minister detailed.
The conditions named Caputo There are three and were repeated repeatedly by the President of the Nation. In detail, they are; end the paid liabilities; end the puts and convergence of inflation with that of devaluation in an environment close to zero monthly.
“Meanwhile and as soon as we meet the 3 conditions that we consider. We are doing everything to release exchange restrictions. When these conditions are going to be given, I cannot say them because we do not even know how much money will give us the background,” Caputo concluded.
Luis Caputo celebrated the growth of retirement and salaries
On the end of the interview, Caputo took the opportunity to celebrate that “Retirements, compared to November 2023, have risen 9.2%”. “There were 30 the last year of Alberto Fernandez and Massa, in real terms,” he compared.
On the other hand, the Minister of Economy also said that “The registered private salary grew 5% compared to November 2023”.
“The purchasing power today, both of the retirees and that of the wage earners, is higher than in November 2023,” he said.
In this sense, Caputo said that “he is not afraid of” the marches made in claim for improvements of, for example, the retirement assets. “Any of these marches, of these destabilization attemptsThey hit the economy before because it grabbed us weak. That is because we were always with low defenses. I am not afraid of that now because we have broken that link by being economically solid. We begin to seem to a normal country “, affirmed.
Source: Ambito
