Likewise, the head of the entity highlighted the Exit from exchange ratewithout shocks in the dollar. He also anticipated that the data indicates that Inflation came down again.
According to Werning, this decision regarding interest rates “contrasts with what happens in a regime of inflation goalswhere the interest rate is calibrated by the BCRA “.
“We must also recognize the virtue of Reconetization processbased on the economic impulse and the recomposition of the demand for money, as long as the latter Do not attempt against the inflation reduction process“He explained.
In that sense, he said: “The new regime shows evidence of Promote incentives for price determination They define Specific supply and demand conditions to each market. These conditions can generate increases in some prices and casualties from others, but the macroeconomic balance does not validate a generalized increase. “
“We have the advance towards the coin competitionwhich allows people and shops to use the currency they want. This energizes the instrument of Payment in dollars For commercial operations, “said the head of the BCRA.
“The goal is support the deposits and a financial system He has all to grow, “he exhibited during his exhibition.
What Vladimir Werning said
The vice president of the BCRA, during the IAEF 2025, said: “We launched stage 3, of exchange gap 0with radical changes that shape a fiscal, monetary and exchange frame consistent. It will continue to reinforce on the side of the economy offer, trying to improve efficiency and competitiveness. “
He also thanked the private sector for “Accompany in stages 1 and 2 of zero deficit”and highlighted: “The conditions for Ensure release, flexibility. Simplification and exchange unification of this stage, and that does it without leading to social economic shocks. “
“This reaffirms that the sequence of Implementation chosen in an economic programin addition to its general design, it is very important to prosecute convergence to balance, “he exhibited.
The remaining of 2025
Subsequently, Werning anticipated that 2025, “as 2024, will be considered a transcendental year in terms of structural economic progressand not one where the electoral calendar conditions or compromises those important decisions. “
“Stage 3 opens a period in which we think that Opportunities on risks predominate and expectations extend. Constitutes a transition to a stabilization program Ambitious, towards a sustainable growth program based on a regime of operational competition and palpable economic, “he said.
“Represents one Quantitative and qualitative improvement of the central balance systemsimilar to the elimination of their liabilities but on the side of the assets, “he said.
Reservations in dollars
Then, he referred to the state of the reserves, considering: “The rLiquid ease will continue to reinforce with the Disbursement of multilateral organisms. The confidence generated by stage 3 and the more than 350 points basic that the country risk has fallen, allows us to specify in the short term. New Repo facilities of the BCRA with the participation of a broader set of international private bank “.
“It’s a matter of time for country risk fall Open doors to the treasure of having Liquidity in dollars“Werning said.
“In order to continue expanding the availability of liquidity, the BCRA has taken prudent deregulation measures of the gear market. Changes in regulations provide another option for access to financing Outside funds for treasureas long as external financing operates with an investment horizon for more than six months, “he said.
Country risk and international context
BCRA vice president also said: “The country risk fall is a consequence sought of this stage 3, and that has advanced despite the adverse international context Due to the global conflict on the rates, he is very encouraging. “
“Reflects the degree of Internal Balance Strengthening And the expectation of economic growth that Argentine exchange and flexibility contributes to the program, “he said.
“This week there was an advance in the process of Fariff negotiation that carries out and China. Open the possibility that, when the external adverse scenarios are cleared, the Standardization of global markets And of the risk of his own country, “he said.
“Today Treasury can evaluate your options without urgency“Werning said, thanks” to the increase in Liquidity of the BCRA, the elimination of the fiscal deficit, the greatest political-economic consistency and the most significant repatriation of dollarized savings of Argentine residents, “he adhered.
“As he said Minister Luis CaputoArgentina never saw a Economic Stabilization Program such. Comparisons are not relevant, “he said.
Source: Ambito
