Amid the exchange tension, Pablo Quirno denied state intervention: “Not a single IMF dollar has been used”

The exchange tension continues to be imposed on the financial agenda of the Ministry of Economy. As an expression, the Services deficit and the growth of the demand for foreign currencies of savers. Faced with rumors, Pablo Quirno denied that the movements of the BCRA reserves are being carried out with part of the disbursements that the IMP He made the country.

The Secretary of Finance of the Nation was involved in the discussion in social networks, where the suspicions that persist in the financial market regarding a Active government intervention on the exchange rate. In that framework, the economist Christian Buter He pointed out that “it would not be the first time that Caputo uses the IMF dollars to contain the price of the dollar. That had been the reason why the agency requested its removal when it was president of the BCRA in 2018”.

That publication in X was replicated by Quirno, who stated: “One that does not understand that the dollars of the IMF that the treasure is taken by the BCRA product of the recapitalization that was made with the disbursements. Not a single IMF dollar of the program that began in April has been used “.

He also considered that It is not an “accounting alchemy”, but “the numbers are very clear (clearer that I would never say even because the debt generated by the Treasury to the BCRA has once again been the responsibility of the Treasury). “” The Public Ethics Law regulates us, “he insisted.

In the City they believe that the treasure began selling currencies to contain the exchange pressure

In the middle of the final stretch towards the legislative elections of September in the province of Buenos Aires, the suspicion that the National Treasury went to sell dollars to moderate exchange tension. This is raised by a report of the Consultant 1816which highlights concrete indications that arise following the Recent movements in government deposits in the Central Bank.

According to the consulting firm, in recent weeks – from August 11 to 27 – there was a drop in deposits in foreign currency measured in dollars by U $ S354 million And, in parallel, a Increase in deposits in pesos. By 1816, this dynamic could be associated with currency sales by the treasurein coordination with the central, with the aim of providing calm in a sensitive political context.

“The Treasury does not communicate these interventionsbut the bank flow pattern suggests that it could have been offering dollars”, Argues the analysis. The hypothesis argues that the movements of the stock deposits in dollars simultaneously occurred to an expansion of deposits in pesos, something that, according to analysts, can hardly be explained only by private movements.

It should be remembered that the BCRA can only intervene with sales in the official market when the dollar reaches the ceiling of the flotation band, today around $ 1,465. On Friday, wholesale price closed in $ 1,342that is to say, 9.2% of that limitwhich also adjusts to the rhythm of the 1% monthly.

Savorists bought US $ 3,041 million in July, second highest data in at least 18 years

The Argentines bought in July U $ 3,041 million for treasury, in net terms, the second highest in, at least 18 years. To the relative exchange delay and the winter holidays, which usually generate a greater demand for foreign exchange, the financial volatility unleashed after the change of monetary policy was added.

As reported by the Central Bank (BCRA) this Friday, in the seventh month of the year 1.3 million “human people” bought dollars in the official change market, by U $ 3,408 million. In parallel, 576,000 vendors were registered, for an added amount of US $ 367 million.

Since the stocks were released for people, in mid -April, the net currency acquisition went up month by month, always marking maximums since the last year of the Government of Mauricio Macri, prior to exchange restrictions. Since there are records (January 2007), only the October 2019 was greater than that of the latter July.