Melconian detailed the panorama he sees today in Argentina. The economist spoke about the risks of the current model and Donald Trump’s position on the global economy.
The economist Carlos Melconian analyzed the Argentine financial news and assured that “taking out the pure timbero and the great silver, the rest has little margin with the ‘carry trade’ that can be done today.” He compared this situation to that of 2017, when he said that “the ‘carry’ was bizarre because foreign investment funds came and put in money.”
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Thus, he pointed out that, today, there is no strong influx of foreign funds and he emphasized that this means that, today, “to win, you have to put in strong capital.” “It’s a very finite, very risky game,” he emphasized. And he said that his complaint is that “there is no good incentive for the holder of pesos.”


On the other hand, in the framework of an interview on Radio Con Vos, he spoke about the risks that many point out that the arrival of Donald Trump to the US government implies and said that “Trump is not a protectionist”. He explained that what happens is that “he has a special issue with China, which is a country that does what it is told to do and does not know how to escape from capitalism and get rid of it.” For Melconian, “the Europeans are protectionists,” but Trump is protectionist only with China.
Likewise, the author of the phrase “Be careful, all this can go to shit” in 2017, when the financial scenario seemed very friendly, just as today, with a country risk that is falling, ruled out that his sayings are applicable today, despite the fact that many see a context in which the country risk decreases. He says that, “today, politics plays strongly and political and economic control has not been lost.” And he emphasized that “the feeling that everything is under control must continue”
“Argentina is buying that they screwed us for 80 years and now one has come and is kicking the board. The president feels very safe but he should be attentive”he warned.
The low dollar and scarce reserves, a problem
Regarding the outstanding debts of the GovernmentMelconian mentioned that the low dollar with few reserves is an issue that generates a certain risk and that is something to be resolved to lift the stocks. “It generates uncertainty regarding the payment of the debt. The Government is like a person who weighed 180 kilos, which is very risky, and now is at 110 kilos. It has improved, but it still needs to be done,” he said in this regard.
On the other hand, he warned that dollars are arriving strongly and warned that “there is a very high probability that with an inflation rate that is not desired, with employment that does not grow and with investments that do not arrive, there is a very limit clear for the government project.
Thus, he used an example to warn about this problem. “The shoe store gains strength when they sell shoes, not when they give it credit. At first, it can help, but it is not the solution to achieve economic strength,” he said. So he highlighted the need to stimulate the economy and make Argentina more competitive.
Source: Ambito

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