The government celebrates the results of the lower inflation. But the measures have consequences. The commitment to the IMF is not safe.
During the week we had many events that called economic-financial attention. Such as the abrupt fall of reserves to intervention of all exchange rates (Blue, CCL, MEP, future and the crypt is now added). Only on Friday intervened in physical tickets with 488 million dollars and only 6 million bonds 2030.
The problem is that in recent days the international gross reserves have been raising for the nominal rise in international gold that went from 2,800 the ounce of gold to 3,015 last Fridaybut they never clarified where the gold that we saw in images of news channels ended on the Ricchieri highway on the way to Ezeiza airport and that supposedly those 4,700 kgs of gold, repurchased by the national state in 2021, which the country had lost in 2019 because the same duo paid it/lit in 2018 and the 500 million they obtained at that time were not paid.
We know that the judge Loretta Preska From the South Court of New York he requested reports for the purpose of seizing them, although as we never had news of the “blissful” we can also assume that they are already seized and/or lost from the public treasury.
Making a brief parenthesis we can point out that he had only granted $ 10,000 million to Bahía Blanca last Sunday, until we warned that there was a remnant of $ 225,000 million of the Naftas tax charged at all service stations in the country for 2024 and as they have a specific destination for water, sewers and routes ended up granting another $ 200,000 million on Wednesday afternoon post repression of retirees.
Also the same Friday met the February 2025 CPI data, which provided 2.4%; predictable consequence of public services and foods such as meat. Being the least data of clothing and footwear that granted +0.4%. With reference to this last data, the Minister of Economy late Friday announced that It reduced import tariffs of these items, which is not only understood but does not condition with the data of the CPI, for the purpose of lowering the price and turning deflation in the textile and footwear sector. Which would be given in the absence of consumption of these products anyway, that reduction will have as a consequence that those industries that produce in the country will become supercketed, reduce production, generate first suspensions and subsequently dismissals.
Effect on 3 or 4 months of low prices for imports (even if they are not the same type of quality) and then stagnation even of imported prices due to the upper fall of consumption because the fired ceases to be consumers to be homeless for not having income with what to consume.
All this occurs in conjunction with the march of retirees and their full and carefully armed repression, in conjunction with the statements of georgieva Kristalina of the previous week in which he communicated that in case of generating a letter of intention “at some point”- because so far does not exist- he did not want to have mobilizations in the streets.
As a counterpart, the National Administration ignored this generated an unprecedented repression with a photographic reporter that today is debated between life and death, taking international connotation that adds to the international scandal of the cryptophaf $ pound. This can lead to the agreement with the agreement with the IMF, that is, not even US $ 0.25, so all the efforts to those who submitted to citizens ended up being a useless sacrifice.
Economic and Tax Analyst
Source: Ambito
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