Together for Change
came up against an imminent
debt swap
promoted by Economy Minister
Sergio Massa
.
Through a statement, he considered that the maneuver
"will only bring more instability" and will imply "serious problems."
"The legislative blocs of Together for Change warn of
the
serious risks
involved in the debt swap being prepared by the Ministry of Economy," they stated in the text released this Sunday.
As reported this Sunday, the Ministry of Economy seeks to close a debt swap to postpone payments until 2025. This Monday there will be a key meeting with the banks.
According to JxC, the aforementioned swap
"will give banks an option that no investor has."
It is, according to the coalition, a
"dual bond"
adjustable for devaluation or inflation (the greater).
In addition, they maintain that they will have the possibility of selling all the titles to the Central Bank at any time (known as "the put").
"This would imply an
'exchange insurance'
for the bondholders (the banks) and that the local debt that matured every 3 months now, in practice, has daily maturities. All this extended until 2024," they explained.
For the opposition armed forces created by Mauricio Macri, this would imply an
"enormous risk for Argentines."
In this sense, they detailed that the maneuver "could lead to an inflationary jump even greater than the one already produced" by the Government.
"In addition to generating
serious problems for present and future economic management
," they added in an alert gesture for a possible opposition government after December, in line with previous communications that spoke of the legacy of a "bomb" in the economic area under the management of Massa.
Sergio Massa, in the crosshairs of the criticism of Together for Change.
Finally, the statement states that the maneuver "
constitutes a violation
of the principles of the Financial Administration Law and the BCRA's own Organic Charter."
The release of Sergio Massa's brother-in-law
Who echoed the communication of Together for Change was
Sebastián Galmarini,
brother of the head of AySA, Malena, and brother-in-law of Sergio Massa.
Galmarini, director of Banco Provincia, seemed to come out at the crossroads in his capacity as massista leader.
Through his Twitter account, he attacked the opposition:
"Say it shamelessly! They want Argentina to explode."
Sebastián Galmarini, one of the directors of Banco Provincia and Massista leader.
For Galmarini, the opposition's move is not only about "
electoral speculation
against the government" but also "they do business."
"They want the debts in pesos not to be paid,
the currency to be devalued and inflation to get out of control
, at the same time that the salary loses value," he said on his social networks this Sunday.
DS
look also
There are dollars to pay the Fund;
what there is not are dollars for the economy to work
Horacio Rodríguez Larreta: "Whoever says that he lifts the stocks on December 11 and everything is solved is a blackmail"
