Finance executives supported the Government but warned of the “hard cost” of the adjustment

Finance executives supported the Government but warned of the “hard cost” of the adjustment

For the president of the IAEF, Diego Carzola, the course taken by the Government is the correct one and he gave his arguments. However, he also warned of the effects on economic activity and workers.

Argentine News

The president of Argentine Institute of Finance Executives (IAEF) Diego Cazorla defended the Government’s course, but warned that stabilizing the macroeconomy meant a “hard cost” for people and companies.

According to the leader, the assumption of Javier Milei to the Presidency “was a consequence of decades of wrong and erratic policies, permanent short-term shortcuts, inefficient management and lack of medium and long-term planning.”

“Now, stabilizing the macroeconomy, launching a frontal fight against inflation, restoring the value of the currency, adjusting relative price distortions and beginning to resolve the problems of the external sector concentrated efforts in this first stage of Government. But that has meaning a harsh cost for the citizen and for companies“, considered.

When speaking at the opening of the IAEF Congress, which takes place at the Buenos Aires Convention Center, Cazorla admitted that finance executives have “hopes for the success of this new cycle (of Government) due to the course adopted, by the first results achieved and by the certainty that the levers of Argentine development are intact.”

In his opinion, the legislative approval of the Bases law would be a “strong signal for the consolidation of economic recovery.”

The head of the IAEF also indicated that any comprehensive economic program “It has different phases and one of the main challenges is to continue with the structural reforms begun.”

“If the reforms are not carried out, the structural problems will return, with the consequences seen so many times throughout our history. But it is necessary that the transformations be developed within the institutional framework,” he emphasized.

Likewise, he advocated for the “urgent need to open up to the world” and, in that sense, highlighted that the country’s entry into the OECD, understanding that this decision “is a strong signal for the markets and a very good example of a policy of State in the medium and long term”.

Source: Ambito

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