In what is an emergency situation and time is running against him for a possible candidacy, Sergio Massa and his team defined three key measures reminiscent of several of those implemented by Domingo Cavallo in the 90s.
A sharp rise in the interest rate that will take the fixed terms to 97% and that in effective terms is not only on par with inflation but implies an improvement; An opening of imports in protected sectors such as textiles, household appliances, but also in free prices such as fruits and vegetables and also greater coordination and controls under the umbrella of a new unit that exchanges information every 48 hours for traceability in prices.
Of course, the underlying bet for some outcome is that the IMF anticipates disbursements. And the question is how the Fund's staff will digest this package. Massa also travels to China on May 29 with the idea of sensitizing Beijing and the BRICS partners for a bridge loan or guaranteeto Brazilian banks that can finance Argentine purchases.
In the extensive meetings on Saturday, Guillermo Michel, head of Customs, said that in various sectors import dollars are obtained and sold at the price of blue. So they decided to control car dealerships, appliance factories, the textile chain and plastics. They open the import from China, now that it can be paid with yuan as an attempt to lower prices by competing with imports. A classic.
A separate chapter is the Central Market. Fruits and vegetables rose 20% in the city of Buenos Aires last month. They focus on three or four importers who bring counter-season products in addition to bananas and avocados that are almost always imported. The market will be put by post with the agents of the social security and the AFIP given the high degree of suspicion of black operations. They will encourage the stallholders with a pardon of the canon for 90 days, as long as they do not continue to climb those values.
In the opinion of some analysts, they are simple measures that come late.