In this regard, he stressed that “The idea is to maintain the real exchange rate in the terms it is in now, which is an exchange rate that allows exports and is competitive”. And he affirmed that “a devaluation leap is not intended nor is the search for an increase in the real exchange rate beyond what is necessary for competitiveness.”
Regarding the negotiation, Miguel Pesce maintained that “the confrontation strategy should have been considered well in advance” but that “there has been good political work by the ministry, the Foreign Ministry and the ambassador. Now, “the challenge is to make this program work,” he added.
Also, he spoke about other dollar quotes, about the financiers and the blue dollar, and agreed that they have to lower their price. In this regard, he explained: “In the exchange market, between eight hundred and one billion dollars are traded daily. In the cash market with liquidation and the stock dollar, between 40 and 60 million are traded. And in the illegal dollar, we believe that million dollars, not even tens. So any speculative impulse can rock these last two markets.”
On capital control, he pointed out that it is necessary “at a time of shortage of foreign exchange it is necessary to impose these controls” and ruled out the idea that the IMF asked to lift it. Likewise, he indicated that industrial exports “will give us independence from the Fund and will allow us to avoid limiting growth in the external sector.”
The main definitions that Miguel Pesce
- “This program does not foresee a strong devaluation.”
- “In no way is a devaluation jump intended.”
- “The agreement does not foresee labor reforms.”
- “We are interested in the type of official market that is the one that counts.”
- “The program is for economic growth and development that does not establish restrictions.”
- “There is no reason for an upper middle class person to be subsidized.”
- “Congress should approve before paying on March 22.”
- “Without the deal, the dollar would have suffered.”
Source: Ambito
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