Minutes later, at a joint conference between the Minister of Economy Luis Caputo and the head of the BCRA, they confirmed the exchange flexibility included in phase 3 of the economic program. In addition to flotation bands, the exchange rate for exporters will be completely eliminated: “Blend dollar”.
“We have reached a new agreement with the IMF”, He assured the head of the Palacio de Finance. The new agreement is for the US $20 billion, as provided, with about US $ 15,000 million free availability in 2025. “This implies that we will start with stage 3 of our economic program, the recapitalization of the Central Bank, which allows to support the weights that the BCRA issued,” Caputo explained.
EIGHT KEYS OF THE ECONOMIC TEAM
1- Lifting of the exchange rate
Restrictions for the purchase of currencies by natural and legal persons will be eliminated, including the monthly stop of US $ 200 for individuals.
2 – New flotation regime within exchange bands
A exchange rate flotation system within mobile bands will be established, with intervention from the Central Bank to avoid outputs of those margins.
3 – Elimination of the dollar “Blend”
The regime that allowed exporters to liquidate their sales to the outside 80% in the official market and 20% in the financial, seeking to unify the exchange rate and improve the accumulation of reserves will be suppressed.
4 – Enabling for the turn of utilities abroad
The distribution of profits abroad will be allowed from balances initiated in 2025, facilitating the repatriation of profits by foreign companies.
5 – Import payment flexibility
The conditions for import payments will be flexible, seeking to expedite foreign trade and the provision of supplies for production.
6 – Substitution of the exchange anchor with monetary anchor
The exchange anchor will be replaced by a monetary anchor focused on the control of the monetary base and without issuance to finance the fiscal deficit, seeking to stabilize the economy and reduce inflation.
7 – Reduction of “parking” to operate with bonds
The term of mandatory permanence will be reduced, that is, the “parking”, to operate with bonds, facilitating operations in the financial market and stimulating the remumination of the economy.
8 – Increase in international reserves
The Government estimates disbursements in 2025 for US $ 23,100 million free availability. About US $ 15,000 million of the IMF, US $ 6,100 million of other YU $ S2,000 million repo of the BCRA.
Source: Ambito
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