The problem of the dollar can be seen from two points of view. On the one hand, the government is trying to rebuild reserves with a measure popularly known as the “soybean dollar” that is bearing fruit.
According to one of the latest reports from the consulting firm Ecolatina, “the first days of the renewed scheme’s validity showed a level of sales in line with the Government’s expectations and the sector’s commitment. In the first 4 days of the incentive’s full validity, the settlements totaled US$1,408 million, while the BCRA achieved net purchases of US$1,036 million in the week (daily average of USD 207 million vs. USD 3 million the previous week). operations with soybeans reached 4.6 million tons, thus, in just 5 days, the volume of total operations for the entire month of August was exceeded”.
The request of the industrialists
But on the other hand, the issue around the outflow of foreign exchange is a bit complicated. Industrial entities asked the Government last week to take measures due to the outflow of dollars through tourism abroad, particularly in the face of the World Cup in Qatar, not to affect the companies’ need for foreign exchange for the importation of supplies destined for the production.
“Given the shortage of dollars, we request that the productive sectors be privileged”said the joint statement from the Industrial Union (UIPBA), the Economic Federation (FEBA), the Economic Confederation (CEPBA) and the Industrial Association (ADIBA), all from the province of Buenos Aires.
“The entities endorse the request of CAME and UIA asking the Government to impose restrictions on the purchase of dollars and the use of credit cards for tourists traveling to Qatar on the occasion of the World Cup,” added the text, in which it requests that The authorities “implement measures to prevent the demand for dollars from transforming into restrictions on access to foreign currency for production and the purchase of inputs.” The word of the industrialists appeared after the Government maintained the restriction on foreign currency access for imports until December 31. The businessmen’s statement is valid: it would not make sense that the few foreign exchange that enters are destined for tourism and not for production.
Although the Central Bank did not give an opinion on the matter and Sergio Massa is expected to return to Argentina to analyze the industrialists’ request, the Federal Administration of Public Revenues (AFIP) gave a first signal. With more than three months to go before the start of the FIFA World Cup, the body he heads Charles Castagneto put the magnifying glass on those monotributistas who bought tickets to travel to Qatar to watch the matches of the team led by Lionel Scaloni and in particular on 28% of them, who do not have additional income from the activities adhered to the aforementioned tax regime,” he said. the collecting agency in a statement.
Source: Ambito
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