The Government considers that the laundering, the first stage of which ended last Friday, was better than expected. “Some US$20,000 million are looking for a return and this helps to recover the ability of companies to finance themselves“said the Secretary of Finance, Pablo Quirnowho highlighted that the current economic management “ended the inflation tax” and stated that they hope “that today the October CPI will give good news.”
However, he acknowledged: “We have many regulations to dismantle, such as the tangle of the stocks”. For Quirno, “the Large Investment Incentive Regime (RIGI) is the north of what we are looking for” and emphasized that the conditions of this program “have to be those of the entire economy.” Thus, he made it clear that what they aim for is to lower taxes and “generate lasting macro conditions, which are embraced by economic agents”.
And Quirno assured, in the Marval Legal Forecast, a forum organized by Marval, O’Farrell and Mairal, that “legal insecurity derives from macro disorder.” “We said from day one what we were going to do and we did not move an inch. That will generate credibility,” the official promised.
Quirno cited Javier Milei
And he ratified, in that sense, the words of the president, Javier Milei, by ensuring that “the recession is over”. He said that the valley of activity was in April, but that in recent months, “the indicators are positive” and he trusted that this will become exponential. “Not all sectors are going to be winners, but Argentina is going to be a place where everyone can compete,” he said.
Roberto Silva highlighted the development of the capital market
In turn, Roberto Silva, president of CNV, highlighted Argentina’s achievement of not having fallen on the gray list of the Financial Action Task Force (FATF). “It was winning the World Cup as a visitor in France. There were many chances of falling on the gray list. It would have been very bad to achieve all the objectives that Pablo (Quirno) said. There is talk that it leaves a negative impact of 7 points of GDP to be on the list gray. Even if it were exaggerated, it is a lot,” he said.
He said that, When the FATF came, it asked that virtual asset service providers become obligated subjects. and he said that, “at CNV, we put together the registry.” “We are working on crypto regulation and a tokenization project,” he commented. And he highlighted the El Salvador model as very interesting.
On the other hand, he said that The rule that proposes the automatic offer is under consultation. “It consists of debureaucratizing the procedures. We made a welcome package to the capital market. Public offers of less than $1 million from UVA do not have to enter the public offer regime, nor make any prospectus. It allows the creation of an instrument similar to the automatic promissory note” , he summarized. He trusted that this proposal will add many people to the capital market.
Regarding the achievements of this management of the CNV, Silva highlighted: “We enable carbon markets (BYMA), CER futures (Rofex) and the opening of client accounts for adolescents over 13 years of age. with parental consent. “We compete with a world where those same kids already open virtual wallets, buy crypto, etc.”
Privatizations and the stock market
And finally, he talked about the relationship between privatizations and the capital market. “As the idea is that several are done through the capital market, we made exceptions for takeover bids and for the presentation of balance sheets of public companies, which, in general, do not meet the requirements. We give them a waiver to apply. day with the information,” he explained.
Source: Ambito
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