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Due to the jump in the dollar, Massa seeks to contain inflation with a price and wage agreement

2023-04-28T02:07:30.959Z


The businessmen say that they have not yet been summoned and the CGT has denied a 'freeze'. Cristina pointed against companies and the IMF.


Sergio Massa continues for these hours

outlining his roadmap

to stabilize the economy after the jump in the dollar, which caused a political crisis in the government.

The idea is that the latest measures put in place reduce exchange rate tensions -as it began to happen- and starting this weekend,

call for a price and wage agreement for 90 days.

The Economy Minister announced the call on Wednesday during a meeting at the Palacio de Hacienda with the leadership of the CGT and social leaders, led by Héctor Daer, and the leader of the Evita Movement, Emilio Pérsico.

Massa said that

the remarking in prices seemed "inexplicable" to

him and that he wanted to "sit them down" at a table with businessmen to give a "path of stability."

"It is a 90-day agreement, an arrangement so that there is no transfer to prices and the run does not impact. They are going to talk about rolling back some prices and stabilizing prices and wages, so that the run is not validated," they explained from Economy.

The intention was to start this Saturday, but it will probably be resolved

just this week due to the lack of definitions.

Both the Chamber of Commerce (CAC) and the UIA assure that

they did not receive an invitation

.

"They did not call us, if they call us we will go to listen," said the president of the manufacturing center, Daniel Funes de Rioja.

According to a

Clarín survey,

only the large chains grouped in the Association of United Supermarkets (ASU) received the call for this Saturday.

On the other side, they did not confirm the meeting either.

"He did not set a date

, he orders the agenda over the weekend to see when he calls the meeting," said Andrés Rodríguez, head of UPCN and assistant secretary of the CGT.

In a statement, the center specified that the table is to "help social peace" and "order abuses": "

We never talk about freezing."

The expectation is that it will be defined

after the act called by the CGT for Tuesday,

to which the leader of the Renewal Front was invited, and that it would be 

his first step to promote his presidential candidacy.

On the other hand, Pérsico warned that "there were prices that rose 9% unjustifiably these days, holding on to the parallel dollar" and that Massa "asked that we press businessmen together to bring prices back." 


The latest measures helped push back the blue and calm financial dollars.

The swerve included the

strong intervention in the bond market with the use of reserves,

the rise in nominal annual rates to 91% -an increase of 10 points- and the sending of a delegation to rediscuss the agreement with the IMF.

But the stability achieved still seems precarious.

After touching $500 in the week, the informal price fell this Thursday to $467. And the CCL, to $457. Those levels, still above $400 and $404 prior to the run, triggered increases in the prices in some items.

And it put more pressure on the government to anchor inflationary expectations.

Consultants expect a floor of 8% in April.

Massa

had already tried to launch a similar agreement for 60 days in August last year

.

It was just assumed in the Economy and after inflation reached a record of 7.4%, but it did not prosper.

Now, he is looking for a sign of support in the midst of the tussling with the Fund to advance disbursements, to which Cristina Kirchner joined this Thursday. 

"Inflation skyrockets from the signing of the agreement, so the devaluation rate has to accompany the inflation rate, the main cause is the variation of the dollar," the vice president said at an event in La Plata, in which she pointed out against the companies for the "remarks".

And she called a table "to see how much each one puts." 

Source: clarin

All business articles on 2023-04-28

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