Mary Church
09/28/2020 - 21:14
Clarín.com
Economy
The Government prepares a combo of announcements for the next days oriented to the
field and to the mining and energy sectors.
That is why the expectation grows in the face of the meeting of the Central Bank board that
will take place this Thursday.
After that meeting, which will be led by the president of the monetary authority, Miguel Pesce, there will be a statement that will seek to convey "very specifically how monetary policy will be managed," government sources explained, although others sought to lower the tone and said that
great news was not to be expected in itself.
The versions that circulated this Monday were varied.
One of the most powerful was the possibility that the mining and energy sectors
are exempted from the obligation to refinance 60% of their debt in dollars, an
option that was not confirmed by the Government.
After the strengthening of the exchange rate market announced two weeks ago, not only was people's access to the possibility of buying the US $ 200 per month, the "savings dollar" restricted.
The novelty for companies was that they can only access 40% of the dollar needs to face financial debts, and that the rest had to be renegotiated.
It also circulated that the Central Bank board could hold another meeting, prior to Thursday, which an official source denied.
“At least so far there is nothing planned.
Thursday is the meeting, as is done in the usual way, "he said.
What will be announced is the implementation, finally, of
the Compensation Fund for the agricultural sector,
a decision that, although it was already included in the Law of Social Solidarity and Productive Reactivation approved in February, its application was delayed .
It implies
the return of deductions for small soy producers, with a ceiling of up to 1,000 tons.
The decision to move forward with announcements, which seek to give "greater certainty" they assure in relation to the exchange market, was finalized on Saturday in the Olivos presidential office.
That day,
the Minister of Economy, Martín Guzmán,
met Alberto Fernández
;
the president of the Central Bank, Miguel Pesce;
the Chief of Cabinet, Santiago Cafiero;
the Vice Chief of Cabinet, Cecilia Todesca;
the Minister of Productive Development, Matías Kulfas;
the Minister of Foreign Relations, Felipe Solá;
and the Secretary for Strategic Affairs of the Presidency, Gustavo Béliz.
“We worked on advertisements that target sectors such as energy, mining and the agricultural sector.
What is sought is to provide
rules of the game
that prevent those sectors from being damaged by the exchange regulations scheme, "said sources familiar with the meeting in the fifth presidential session last Saturday.
"The measures are aimed at companies finding certainties in the midst of all this," they said yesterday.
After the announcement of the tightening of the foreign exchange market, nervousness in the market increased.
Although it was expected that the dollar counted with liquidation and the MEP, as well as the blue, would rise in the first days due to uncertainty, two weeks later
the gap with the official remains high.
In fact, even though just between Friday and Monday it began to be able to buy "savings dollar" again in the banks, already with a new price after the 35% added to the Profit account, in the market they assured that the Central Bank
had to sell about US $ 60 million on Monday.