In the measures, actions were decided to improve the conditions of access to the foreign exchange market for the payment of imports of inputs for strategic sectors and thus guarantee the continuity of different productive processes, reported the Ministry of Economy.
At the meeting it was also resolved to facilitate the liquidation of foreign tourists’ currency. The measure that the Central Bank (BCRA) will adopt will allow the sale of foreign currency in entities authorized to operate in the foreign exchange market with the presentation of the identification documentation used to enter the country.
The maximum amount allowed by this mechanism will be up to 5,000 dollars. The exchange rate will be the one arising from operations in the financial market, the ministry reported.
Blue dollar today: the forecast of economists
The economist Luis Palma Cané, referred to the financial crisis that the country is going through and said that the economy in Argentina is “insane”, because there is not a single sector that is not unbalanced.
“The situation in Argentina is a multi-crisis because there is a political crisis that we all know, a financial crisis, a fiscal crisis, and a cultural and social crisis,” the expert pointed out in an interview with Luis Majul.
“The Blue is still crazy, the government does not have a good diagnosis of the problem, it would only need to devalue 30% and raise the rate, but internal politics conditions it.” the analyst wrote on Twitter Salvador DiStefano.
“Keep putting more stocks and the blue will continue to rise. Great idea to restrict the purchase of CEDEARS. It is difficult to be more assholes,” he said Miguel Boggiano.
“In transit and SIMI, it would be necessary to evaluate how it is going to be put into practice. Apparently at the market level, if automatic licenses are implemented for some sectors, it could lower the price of parallels and blue, but depending on the scope and forms could remain as a bleff”, said the economist Frederick Glustein consulted by scope.
And he added: “Having said this, the amount of existing reserves and the pressure on the dollar are opposed, the liquid reserves are zero, not enough dollars are coming in from foreign trade, the trade balance is already in deficit. These are measures that should have been taken about three months, today it’s putting out a fire with a watering can. Unless there is foreign exchange available to plug the holes in imports and they enter through tourism with this measure, I don’t see a good future for it.”
Regarding the MEP, it is of a level of ignorance of the alarming situation. When they promoted the creation of accounts to contribute to MEP for tourists, not one was opened. Everything that requires bureaucracy, does not add to the country’s entrant, it does not use it, it generates conflict. And that is what this measure represents. Tourists know what to buy and where, they are smart, those who have entered and those who have not, in addition to paying blue, today, $10 more per dollar. They are desperate shots without sustenance, which will end up failing. Instead of simplifying, they make it more complex, contrary to what the exchange scenario requires.
the analyst Christian Butler He wrote on Twitter: “The BCRA will know what is happening? It originated this run and now it is hiding? The BLUE is a marginal market, ok. The MEP and the CCL are reaching $330. Wake up.” And he added: “What is this phase called: Anything but pesos.”
Consulted by Ámbito, he indicated: “The measures must be seen how they are implemented. I do not see that they are measures that can contain the run.” In this way, from his point of view, the MEP could be decompressed, but not the blue dollar. Likewise, he warned about the transfer to prices of the rise in the informal dollar.
“Our currency expresses its devaluation with each upward movement in the value of the dollar. Every time the value of the greenback rises, we are all a little poorer. The uncertainty and the lack of positive expectations are the perfect explosive cocktail that has managed to plunge us into a runaway dollar,” the economist explained Manuel Adorni in an opinion column.
And regarding the Government’s statements that the blue dollar is a marginal and illegal market because what should not have an impact on the real economy, he pointed out: “Such an assertion sounds strange in a country where the so-called “official dollar” virtually does not exist: nobody can access it. There is no reason for anyone to form expectations based on something that doesn’t exist.”
“The official dollar at 130 is clearly not in balance. But $300 is possibly out of balance. Obviously we have to see how the story ends a year from now. But if it ends as we are today, historically it is an exchange rate Now the 130 is too cheap. The truth is always in the midpoints. What you’re telling us is that the equilibrium dollar is between the middle of 130 and 300, possibly. At 180 or 190. In the future, it’s going to There must be some kind of unification. When there is a change of government, because it is part of the solution: tell society that once again, this government broke everything and it has to be fixed”, Fernando Marull, director of the FMyA economic and financial consulting firm.
The economist Daniel Artana considered that in order to calm the exchange rate tension a “fiscal shock” is necessary and to close the gap in the dollar with a devaluation “a little stronger”.
the liberal economist Diego Giacomini assured that Argentina “has no currency” and “neither will have one” in the next period so that “it is impossible to lower inflation seriously” and anticipated a dollar of up to $1,600 if the hedging exchange rate is taken as a reference “emerges” today from the Central Bank of the Argentine Republic (BCRA).
“A fiscal shock is needed, adjusting spending, and for the government to take some measure in the foreign exchange market so that the gap is closed with a slightly stronger devaluation”held.
“The arguments that exist are for it to continue rising,” he said Robert Cachanoskywhen the blue dollar was trading at $317, a value that was already pulverized in the early hours of today.
Source: Ambito
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