The specialist criticized the government’s “anxiety” for forcing a decrease in the exchange rate. In that sense, he said that some cost will have: “If you do not pay it in terms of inflation, you probably pay it in terms of activity,” he said.
The FLEXIBILIZATION OF THE CEPO and the Implementation of the new flotation exchange scheme Between bands between $ 1,000 and $ 1,400 They generated fluctuations in the wholesale exchange rate, which on Monday operated below the closing of Friday prior to the modification of the scheme. In that line, the president Javier Milei He assured that the dollar “is going to touch the band’s floor” and the Central Bank (BCRA) He defined that only from that moment he will intervene in the market.
After the president’s claims, the economist Gabriel Caamaño He pointed out that it is a “risk” that the exchange rate reaches the band of the band. “The government does not want me to fluctuate, because it is looking at inflation and its political objectives,” He assured about the non -intervention of the monetary authority in the free market for change.
In that sense, he pointed out: “He wants me to go down. It is a risk, for things that are not technically justifiable“
Why does the government seek the official dollar to reach $ 1,000?
According to the specialist, the libertarian administration took measures such as the issuance of Bopreal, the end of the transitory decrease of withholdings and the flexibility of the stocks for foreign investors, to force the decline of the dollar.
“You are choosing to take risks. Why can’t $ 1,200, instead of $ 1,000? What is the technical reason? I don’t want to pay any cost in terms of prices for regime change,” he said.
Despite the criticism, Caamaño described “Positive” The decisions made by the government of Milei, although he said they will have some cost. “If you do not pay it in terms of inflation, you probably pay it in terms of activity”he remarked.
However, the economist highlighted the “anxiety” of the government to go to celebrate the end of the restrictions on the exchange rates after the according to the International Monetary Fund (IMF). “You have to see how much it costs the dollar to reach the band of the band”warned.
“What surprises me is that you have a market that is rearming, that is stable, and You go out with tips to force a situation that can generate volatility. The only explanation is political, not technical, “he concluded in dialogue with the stream now Play.
Source: Ambito
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