The day after the rejection of the DNU in the Senate, President
Javier Milei
warned about the negative reaction of the markets after this setback in the Upper House and announced that he is negotiating
new disbursements from the IMF,
private investment funds and other countries to " facilitate" the opening of the exchange rate.
The president maintained that the opening of the stocks is the first step to advance in the currency competition model and predicted that it could occur towards the middle of the year.
Asked if a new agreement with the Fund could include new disbursements, he responded: "Yes, exactly. It could contemplate disbursements from the Fund, from other countries and from investment funds that would also allow us to move towards the peso currency competition system." .
The president pointed out, in dialogue with Radio La Red, if I had "15 billion dollars, today I would open the stocks."
Before the radio interview, Milei had used social networks to talk about the impact that the Senate's rejection of the Necessity and Urgency Decree that deregulates the economy had on the markets.
"This is how the market reads when the ORKS take a step forward. While we strive to move the country forward by pulling from a reduction in country risk and interest rates, they are busy impoverishing us," indicated the President next to a table with the performance of stocks and bonds.
🚨POLITICAL RISK🚨
🔥What remains at risk after the rejection of the DNU by the Senate is the market's confidence that the Government can deliver what it promised in the campaign
🔥The legislative part is very compromised due to the lack of senators and deputies
🔥The risk… pic.twitter.com/hk6u6EulJL
— Julián Yosovitch (@julianyosovitch) March 15, 2024
For the head of state, the DNU "has as its characteristic the expansion of freedoms and moving towards more competitive markets and puts an end to many of the dark and shady businesses of politics."
"What it does is make it clear that there are people who are more concerned about maintaining their caste privileges than about moving Argentina forward. It must also be clarified that the DNU is still in force and that now it must go to the Chamber of Deputies" , he emphasized.
In another passage of the note, he insisted that March and part of April will be the hardest weeks for the country's economy.
News in development