15 days after making the announcement, the Ministry of Economy created the Unit that will be dedicated to analyzing trade operations, to control prices and imports, amid skyrocketing inflation and shortages of dollars.
This was one of the measures that Sergio Massa announced the weekend after the release of the inflation data for April, which was 8.4%, more than March. And after meeting with his team, and disseminating the corresponding photo.
The Unit for Monitoring, Traceability and Promotion of Trade Operations will be dedicated to analyzing "on a daily basis" the "purchase and sale of goods and services in internal and external trade." At the head will be Guillermo Michel, current director of Customs, according to Resolution 697/2023 published this Tuesday in the Official Gazette. His appointment aims to "ensure the immediate operation of the Unit",
The new group will consist of five units. The Ministry of Economy will be represented by the Secretariats of Commerce; Industry and Agriculture; by the AFIP, it will be made up of members of the General Tax Directorate (DGI) and the General Directorate of Social Security Resources and the Central Bank will send a representative of the Superintendence of Financial and Exchange Entities.
The Superintendence of Insurance of the Nation (SSN), the Financial Information Unit (UIF) and the National Securities Commission (CNV) will also be part of this unit.
The Unit shall monitor the purchase and sale of goods and services in domestic and foreign trade; avoid dominant positions; verify the traceability of goods and correct taxation; and guide the consumer.
"The heads of the intervening jurisdictions will analyze the connected information on a daily basis and will arrange the measures that are necessary within the scope of their competence," the resolution determined.
Other measures
Among the measures that Massa announced at the beginning of May, along with the creation of the Unit, was the increase of the rate from 91 to 97% per year, which implies 8.08% monthly and 154% effective annually, so that the pesos do not go to the dollar.
They also reduced the cost of financing Ahora 9, the program used to stop the purchase of domestic products, by 12 percentage points.
They also lowered interest balance rates on credit cards. And they ordered an increase in debit card consumption of vulnerable sectors. The return cap was raised from $ 2,028 to $ 4,056 monthly, which reaches purchases of up to $ 27,040 monthly.
NE
See also