“Pesce (by the head of the Central Bank) continues in his position”, official sources stated on a day when rumors of his possible departure were mixed with the rise of the blue dollar, by 4.5%, exceeding $460.
The head of the Central Bank, Miguel Angel Pesce entered the Casa Rosada at around 4:00 p.m. summoned by the president Alberto Fernandez. In the meeting, which was brief, was talked about “the generation of negative expectations in marginal dollar markets, which were not validated in formal markets”according to sources from the Central Bank.
Also, Pesce informed the president that “The BCRA registered a new positive wheel in the exchange market where it accumulated purchases in April for almost US$ 200 million while facing extraordinary payments for energy imports.”
Although it could not be officially confirmed, surely the topic of the recent interest rate rise, which evidently did not please the markets, will have been among the points of discussion. In this sense, it is not ruled out that the Central Bank could take some measure regarding the interest rate.
In the market, there is speculation that it would be necessary for the BCRA imposes more restrictions on the outflow of foreign currency. In this context, some are critical of the fact that it is still enabled the purchase of the “savings dollar” as well as tourism expenses.
The brevity of the meeting was due to the fact that the president had planned to receive at 4:00 p.m. the president of the National Assembly of the Socialist Republic of Vietnam, Vuong Dinh Hue.
The visit came after the BCRA reported that it had bought US$106 million in the foreign exchange market and ended in the green for the third consecutive round. In this way, the result for April became positive for US$190 million. In addition, operations for the agricultural dollar were registered for US$105.8 million and the accumulated amount in this third stage remains at US$1,390 million.
Although the head of the BCRA was in the Casa Rosada for almost two hours, after his brief meeting with the Head of State, he was talking with the Secretary General of the Presidency, Julio Vitobello
Meanwhile, at the Palacio de Hacienda they continued working to reinforce the currencies of the Central Bank. In this sense, according to preliminary calculations, Economy estimates an income for the coming months of more than 3 billion.
Also, this Thursday part of the economic team will travel to Washington to continue in person the conversations with the staff of the International Monetary Fund.
It should be remembered that negotiations are underway with the IMF for the purpose of revising the goals and some objectives of the program. Likewise, Economy aspires to get the Fund to advance more than 10,000 billion dollars.
Source: Ambito
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