In the midst of several consecutive days of rising blue dollars, the economist and Secretary of Strategic Affairs of the City of Buenos Aires,
Martín Redrado
, pointed this Wednesday against the president of the Central Bank, Miguel Ángel Pesce, and considered the financial entity should
" show capacity for reflexes"
to curb the currency crisis.
"To overcome an exchange crisis like this, the
Central Bank must show reflex capacity, absent until now
," Redrado pointed out on his Twitter social network account.
Within this framework, the former president of the Central Bank of Cristina Kirchner attacked: "
The
stabilization of the market will come when the BCRA has the 'surprise factor' with specific actions,
through different instruments, ALL day."
"As an example, it is necessary to highlight which stock market operations carried out by the BCRA must be simultaneous with those carried out in the futures market," he pointed out.
And he retorted: "However,
nothing replaces the necessary approach to get out of the crisis: Plan + team + laws.
For that we will have to wait until 12/10/23."
Redrado's sayings are in line with what was exposed this Tuesday in front of an auditorium of the Grain Exchange, where he coincided with the economists Marina Dal Poggetto and Luciano Laspina to talk about what is coming.
The former president of the Central Bank assured that "we are at the end of the cycle", so it is "necessary to address a comprehensive approach, which includes predictability in public spending, a reform of the State and also combat informality."
According to his vision, "the challenge is to normalize relative prices and have special laws that give the economy a horizon."
Finally, he considered that "it is necessary to work on international geopolitical negotiations, to go towards agreements on tariff positions."
The Government will continue to use reserves to stop the blue dollar
In the midst of a soaring of the blue dollar, whose price changed every 10 minutes and reached close to $500, the Minister of Economy of the Nation, Sergio Massa, came out to tweet that he had informed the IMF that he was going to intervene in the market -something that the organism had vetoed him-.
Thus, it sought to contain financial dollars and, tied to these, the parallel dollar.
Although he managed to do it on the closing of the wheel, the loss was not forceful.
The head of the Palacio de Hacienda put Lisandro Cleri, current second vice president of the Central Bank, in charge of the entity's money table and would intervene again if the dollars get out of hand.
The operation is like this: sell bonds in foreign currency of local law (Bonars) and receive pesos and use dollars to buy global bonds.
In addition to the use of reserves, Massa will use more coercive tools: he will investigate and penalize market agents he believes are speculating.
look too
Blue dollar: for the first time in more than 10 days, it yields to $475 after official intervention in the bond market
A government minister denounced that there is "a speculative attack" behind the strong rise in the dollar
