The economist stated that the challenge that the Government will have will now be to control the price rise since “the fiscal surplus is a necessary but not sufficient condition to lower inflation.”
The economist and former president of the Central Bank, Carlos Melconianhe considered that the change of program that the government took from the Starting of the stock exchange “It is no tragedy” although he warned that “The Bodar Plan died.”
On this point, he explained that now the administration of Javier Milei You will have to face the challenge of Control the impact on prices since “the fiscal surplus It is a necessary but not enough condition to lower inflation. ” Melconian’s sayings arrive in the face of a strong expectation of devaluation of the official exchange rate after the announcement of a flotation between bands of $ 1,000 and $ 1,400 and after INDEC announced that the March IPC climbed to 3.7%the highest of the year.
“The issue is the impact on inflation, not on people’s pocket,” said the economist in an interview with Radio Rivadavia. In addition, he pointed out that “nucleus inflation is in 2.5%” and warned that “There are no measures for the real economy“, which puts a Limit to the sustainability of the current program if progress is not made on growth.
In turn, he said that “conventional monetary policy is determined by people’s demand for money” and Success will depend on recovering that trust.
“I’m not happy for this flying,” said Carlos Melconian
Regarding the latest economic measures announced by the Government, Melconian He said that “he is not happy for this flying” although he acknowledged that “it is for good.” In that sense, he clarified that the lifting of the capo should not be confused with a full return to the markets: “Do not put title ‘the stocks were lifted’ as if that were the promised land.”
He also said that “the exporter still has the obligation to sell the dollars to the Central Bank,” and that “the conventional monetary base continued to issue.”
Finally, the economist emphasized his desire that The country recovers access to international markets: “Hopefully Argentina wet again in the market. “
Source: Ambito
