The President trusted that by the middle of this year the exchange rate on the dollar market could be released. But he did not rule out other alternatives.
Milei emphasized that although his intention is to lift the trap as soon as possible, he prefers to be “on the safe side” and “aim for it in the middle of the year.”
President Javier Milei He trusted that by the middle of this year the exchange rate about the dollar market, and stated that the times depend on the amount of foreign currency that enters Argentina in the coming months. “If they give me US$15,000 million, I will open the stocks tomorrow and the economy takes off”he assured.
Milei emphasized that although his intention is to lift the trap as soon as possible, he prefers to play it “on the safe side” and “target it in the middle of the year”, in line with the estimates of the International Monetary Fund (IMF) that monitors the country’s situation within the framework of the debt agreement. The President, likewise, did not rule out that the organization itself is an “alternative” to collect the US$15,000 million that he estimates are needed.
The President maintained that he will lift the stocks when there is no risk of hyperinflation and considered that doing so under current conditions carries a risk of skyrocketing prices.
“Opening today is a risk because the possibility of a hyper in that case is 50 and 50,” Milei said in statements during a television interview.
The president estimated that he needs US$15 billion to lift exchange restrictions in order to have tools to control the price of the dollar and avoid an unstoppable acceleration of prices.
“As the economy is very demonetized, there are conditions to open the stocks, but there is also a risk that liabilities will shift to the dollar and the hyper will skyrocket. I prefer to play it safe and target it towards the middle of the year,” he explained.
Milei is confident that in April, May and June the Central Bank will be able to accumulate a good amount of dollars from the liquidation of the coarse harvest, which will create the conditions to advance in lifting the stocks.
Source: Ambito
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