The Limited Times

Now you can see non-English news...

Sergio Massa defended the exchange of bonds in dollars and asked the UBA for an opinion to define if the ANSeS participates

2023-03-25T12:47:31.625Z


The Minister of Economy assured that the Faculty of Economic Sciences must issue an opinion and if it is negative, the retirees' bonds will not be sold.


Sergio Massa publicly defended the exchange of dollar bonds of public organizations announced days ago and revealed that he asked the University of Buenos Aires for an opinion to define whether the papers in the hands of ANSeS will be part of the operation.

“I made the decision that the UBA, through the Faculty of Economic Sciences, make an opinion to see if the exchange is beneficial for the ANSeS.

If the opinion says that it is not beneficial, ANSeS will not intervene in the exchange," Massa assured in a dialogue with radio Miter.

After several days of criticism from the opposition, which included a lapidary reply from the former head of ANSeS Diego Bossio, and also after being denounced along with President Alberto Fernández for the swap, Massa maintained that the measure points to an "order" in the management of the Public Debt within the State.

"We had 113 public organizations that in an uncoordinated manner, often causing damage to the State, managed the purchase and sale of titles, for an economy that needs order that is a problem," defined the Minister of Economy.

Massa said the bond swap will lower the foreign law debt by $4 billion.

“We took it from different baskets and somehow transformed it into less Argentine External Debt.

We are going to notify the New York Stock Exchange so that these bonds stop trading and can be sold in the system and thus lower the level of debt”.

The leader of the Renovation Front stated that the ANSeS will earn 2 billion dollars and that the organization will be given the possibility to choose whether to liquidate the dual bonds that it will receive by the inflation coefficient or around the price of the dollar.

"For the retiree, this profit from ANSeS increases the Sustainability Guarantee Fund by more than 400 billion pesos that will be devoted to loans for retirees and productive loans," he said and responded to the strong criticism of the opposition to the operation announced on Wednesday. .

As soon as the decision of the Economy Ministry was known, there was a unanimous opposition consensus to question the swap.

"Massa's biggest betrayal is delivering funds in dollars from the retirees' fund. And it is the best business for the banks, and all for two or three days of calm," said Elisa Carrió, who called Massa a "serial fraudster" and He anticipated that he was studying filing an amparo to stop the operation.

"Let's say it in Creole, Massa's measures are for hyper panic; they want to give liquidity to the CCL to prevent a run on deposits from exploiting the gap, in the context of a drought that will subtract 20,000 million dollars from the economy," the economist Martín Tetaz, radical deputy, joined.

Diego Bossio, former head of the ANSeS during the administration of Cristina Kirchner, was one of the toughest.

"THEY ARE SPECULATING WITH THE HERITAGE OF THE RETIRED PEOPLE Between cocks and midnight, literally, we found out that the government would pesify the dollar bonds of the Sustainability Guarantee Fund," he wrote in capital letters.

"They say it's to stabilize the economy, but they are playing roulette with the savings of Argentine workers and future retirees," said former official K, who knew how to be Massa's campaign manager in previous years, but now I do not hesitate to criticize him. Unfiltered.

And he added: "Cristina would never have allowed me to make a decision of this nature, to hand over the bonds in dollars or the shares to the private parties because it is exposing the capacity of the State and facing the payment in dollars to the private parties in the future."

News in development

Source: clarin

All business articles on 2023-03-25

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.