The president of the commission of Budget and Finance of the Chamber of Deputies, José Luis Espert, He assured that the government will not devalue the weight this year, stating that at its discretion The exchange rate is not late.
“The discussion about whether the exchange rate is late or not from the scientific point of view must be enabled. Why not,” said Espert when participating in a streaming organized by the director of the director of the director of the director Focus Market consultant, Damián Di Pace.
In that sense, he pointed out that “the academy says that to know if the value of the dollar is in equilibriumnntering what is happening with inflation and unemployment “. “Externally, if you have current account deficit, since you are borrowing to finance it in net terms, You have to see if the capital entrance you are having to finance that deficit is sustainable or not, ”added the legislator.
For that reason, he considered that “the issue of exchange delay is a two -headed monsterthe domestic market and the external market. ”The economist indicated that when looking at the conditions of the domestic market lIn inflation “it is slowing down” and unemployment “It’s going down.” “Looking on the internal side I see no exchange delay,” he said.
As for international conditions, he considered that “Argentina has no current account deficit, And if it had to do if it is financed or not. ”
“I would say that there is no exchange delay, looking at the standard models for balance exchange rate determination. And beyond that, the government will not devalue this year, ”said Budget and Treasury head of the Lower House. From streaming, called “Quincho Economy”, the consultant Jorge Giacobbe and economist Gustavo Lázzari also participated.
Details of the agreement with the IMF
Espert recalled that the Four -year program negotiated by former Minister of Economy, Martín Guzmán, in 2022, had a period of 10 years for the repaymentbut with a high concentration of VWarks since 2026, 2027 and 2028. That will be correcting in the agreement that is now being negotiated
“The agreement that is being negotiated maintains the expiration period in 10 years but extends over time. Maturity has not changed, it is still 10 years as it was with Javier Milei in January 2024 and as it was with Alberto Fernández in March 2022.
“The 10 years are still. The issue is that The concentration of maturities in the first years is lower that in the previous agreement, ”he explained.
The legislator said that “A part of the disbursements is going to pay capital maturities ” And he clarified that “you have to see how much money there will be to increase the reserves of the Central Bank.”
“Surely Refinancing for US $ 15,000 million maturities of the next 4 years will be. The doubt is how above US $ 15,000 million there are in the next four years to increase reserves, ”he explained.
Source: Ambito
