In a seminar, the economist differentiated himself from the strategy of the Treasury Palace to avoid intervening in the middle of the exchange band and taking dollars borrowed to meet the goals with the organism.
Ricardo Arriazu, one of the most influential economists among government officials, warned that would have carried out a different strategy from that developed by Luis Caputo in relation to the agreement with the International Monetary Fund (IMF), that Probably end with a “waiver” in June in the absence of compliance with the goal of accumulation of international reserves by the Central Bank.
“The Government The possibility of intervening in the middle of the band was reserved. He doesn’t want to do it Because he wants the dollar to fall and touch the band’s floor. I would have already intervened in the market ”, Arriazu said the framework of a seminar organized by Valo.
The economist considered that they are needed “Reservations for about US $ 100,000 million.” “Argentina is the only country that has twin surplus in Latin America and is one of the few in the world. That protects us greatly,” he said.
However, it coincided with the strategy of the Ministry of Economy and the Central Bank that an amount of reservations of that magnitude It can only arrive through the capital account. “You can’t come just on the current account”, explained.
The return to international markets
The referent, who was in favor of convertibility in the 90s and now supports the Bimonary Strategy of Milei Management, points out that “At some point the government will return to international markets.”
“The dollars will come and so that the exchange rate does not collapse, this is the time where Argentina has to buy. The country has to get rid of the problem of unwanted monetary issuance. China and Japan multiplied their monetary base by 100 and had no inflation, ”said Arriazu.
However, he pointed out that “Argentina It will be a expensive country ” If the government plan succeeds in stabilizing with a low exchange rate, which can be left to several economic agents out of play.
Source: Ambito
