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In the midst of the dollar's rise, Guzmán called a new meeting of the economic cabinet

2020-10-22T17:48:51.856Z

The officials analyzed the progress of the foreign exchange market and the effects of the pandemic on activity. Expectation for new measures.



10/22/2020 2:35 PM

  • Clarín.com

  • Economy

Updated 10/22/2020 2:35 PM

With the blue dollar close to $ 190, the economic cabinet met again this afternoon for the second time in 24 hours.

This rekindled expectations that

new measures will

be announced

amid the escalating exchange rate gap.

Under the convocation of Martín Guzmán at the Palacio de Hacienda were his colleagues Matías Kulfas (Productive Development), Claudio Moroni (Work), the Deputy Chief of Cabinet, Cecilia Todesca Bocco;

the president of the Central Bank, Miguel Pesce;

the Secretary of the Treasury, Raúl Rigo, and the head of the AFIP, Mercedes Marcó del Pont.

The meeting lasted two hours and although there was no official statement yet, it is speculated that they analyzed the increase in the exchange rate gap and the

lack of effectiveness

of the recently announced measures to contain parallel dollars.

Last Monday, Guzmán reversed some of the restrictions that had been announced in the super stocks after seeing how this generated

a greater jump in alternative dollars.

Therefore, the Minister of Economy decided to

make parking

and the conditions for accessing financial dollars more

flexible

.

However, this did not have the expected impact and at the same time rekindled the internal in the economic team, particularly between Guzmán and Pesce.

This morning, the blue dollar jumped five pesos, reaching $ 188, while the cash with liquid rises to $ 180. With this,

the gap reaches 140%.

Until last week the meetings of the economic cabinet were held in the Government House, under the leadership of the Chief of Staff, Santiago Cafiero.

Now

Guzmán took the baton,

in a sign of the empowerment of the economist within the cabinet.

Among the topics that the economic cabinet usually follows is the Work and Production Assistance program (ATP), through which the State covers part of the salaries of the private sector.

What is under analysis is

the implementation of phase 7 of the ATP

, to cover the payment of October salaries.

As it transpired, it is a fact that there will be at least one more phase of this program.

Also the

Emergency Family Income (IFE)

, the $ 10,000 bond that has already had three editions, is part of the powers of the economic cabinet.

However, the absence of Fernanda Raverta, the head of ANSeS, in the last two meetings, lowers the chances that the continuity of the IFE has been on the agenda.

After yesterday's meeting, the bills to promote construction and mortgage credit were announced.

At yesterday's cabinet meeting, Rigo presented the fiscal administration's projections for the remainder of the year.

According to the official, these projections are consistent with the macro-fiscal scenario for 2020 and are compatible with those of the 2021 Budget Law.

"The calculation of foreseen resources will continue to show a path of moderate growth and the prioritized expenses are those destined to the assistance to vulnerable sectors and the consolidation of public investment", concluded Rigo.

AQ

Look also

The blue dollar increases to $ 188 and the savings dollar is already over $ 138

By order of Alberto Fernández, Martín Guzmán concentrates economic decisions and gains ground in the cabinet

Source: clarin

All business articles on 2020-10-22

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