The only thing true so far is that he underwent an entire country to a useless sacrifice, which failed.
From 4 pm on Friday, April 11, we learned many things. Such as that the IPC March The past was 3.7%, even with consumption baskets of the year 2004 (even when INDEC has the measurement with forms/baskets of 2017 and the government by political decision rejects them because it gives higher numbers of inflation) unlike the CPI of the city government that with the consumption of the year 2017 provided a data 3.2%
Or also that the BCRA only that same day squandered 398 million dollars of the 412 million that were settled with exporters, adding to the 626 million bonds used from the ANSE FGS to manipulate a drop of $ -30 in the Financial dollars (CCL and MEP).
But from 5:30 p.m. we had a press conference headed by the Minister of Economy and BCRA President In order to celebrate that due to the failure of the current financial plan the IMF would end up giving the OK to a new indebtedness – illegal even – of the equivalent of US $ 20 mm with the same excuse used in 2018 to swell the BCRA reserves and at the same time the exchange rate was built. Only with 2 caveats, it was not established in 2011 but in 2019 and also that the exit of dollars was released only for natural persons not for dividend payments.
To get out of the stock, flotation bands are established between $ 1,000 and $ 1,400 for the intervention. The truth of this is that given the closure of $ 1,070 in the exchange market the banks established yesterday at the last minute that there will be no buyable dollar in less than $ 1,320. Translating this into a good Creole means that a devaluation of 23% was generated and knowing that the upper stop is 1,400 will not take long to reach that value and pass it, so the BCRA intervention is guaranteed from the first moment of the new scheme. As data to be understood, the exit outside of dollars of natural persons is also released, so all those that were included in the old financial bicycle – today Trade – voan to be able to take out their nearly 80% or greater earnings in dollars since they entered at the end of December 2023.
For the normal one of the neighbors on foot, this means that the initial devaluation of 23% and the close of 31% as it is normal and usual will be run at prices causing 3.7% of March to transform into nearby values and up to 5/5.5% per month ratifying a greater economic depression due to falling consumption since fixed income (salaries and retirement) continue to rise at a rate of 1, 2 or 2.5% running from the prices.
On the end of the day due to the request of the first -floor banks, the BCRA issued the circular at 8226 that establishes that in its point 1.1 that all operations in debit and physical effective per box have a cap equivalent to US $ 100 per month, without corrective circulars and only with verbal clarbs in social networks of the Secretary of Finance that by home Banking there is no limit. But we all know that banks’ systems are handled with the strictly written, hopefully this is a new beginning of the system. Although the only certain thing so far is that a useless sacrifice was submitted to an entire country, which failed.
Economic and Tax Analyst
Source: Ambito
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