The Secretary of Economic Policy spoke about insurance as a driver of the economy and pointed out that the dollars from the mattress must go to the market for it to truly be a positive cycle.
“Argentines insure themselves with the dollars they have stored in the boxes, or wherever. In times when they perceive that there may be an exchange rate jump, when they think that they are going to be scammed,” said the Secretary of Economic Policy, José Luis Daza. And he assured that this is inefficient for savers and for the economy in general.
The official, who is one of the Government’s leading economic voices, said, within the framework of the Argentine Insurance Summit, which took place this Tuesday, October 8, that this is one of the elements that make Argentina unique, which is a bimonetary economy and stated that the current administration intends to change that regime. “There is no other country that has that characteristic. The commitment is to change that regime and move towards a sustainable system without debt,” he emphasized.
Likewise, he pointed out that, “from the Government, we believe that it is impossible to develop a modern economy without an insurance industry developed, transparent and well regulated, but not overregulated“. He emphasized that they are convinced of that and of the relevance of that sector as a driver of activity.
Insurance, as an economic driver
In that sense, he highlighted that The insurance industry is key to injecting resources into the economy. “It is essential for the economy to develop but, in addition, it allows economic actors to take more risk to boost activity. We are increasingly dependent on foreign capital and it is essential to develop the local capital market“Daza said.
On the other hand, he mentioned that The insurance industry is a sector that requires highly trained human resources.. “We want to open ourselves to dialogue with you, sit down to think about how to develop the market. If you do well, Argentina does well,” Daza highlighted. And he emphasized that the insurance industry is “the perfect intersection between finance and macroeconomics.”
He highlighted that It is a sector that requires highly trained human resources and mentioned that it is key to combat the volatility of the insurance market to develop. “We are trying to move towards a regime change aimed at reducing volatility. In that sense, we also think that the high litigation suffered by the insurance market is closely linked to that,” he stated.
Along these lines, Daza considers that “volatility must be killed by ensuring fiscal solvency and move towards a less volatile, sustainable and solvent system”.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
