President Javier Milei acknowledged that it will take
3 years to remove rate subsidies
and assured that he will not accelerate the rise of the dollar, given that "the parallel free exchange rate coincides with the official one."
During an interview with Bloomberg en Español, the head of state indicated that his goal is to move towards a free exchange rate, but it will take time. "We come across a mountain of regulations and every day we put out a ton of regulations. Every day there is one less regulation," he said.
Asked if he is going to accelerate the
official
exchange rate , he responded: "
It makes no sense to do that
. Some local economists say that and they are absolutely wrong. The first question is why do I have to make the exchange rate jump today if
the parallel free exchange rate coincides with the official one".
"What kind of stupidity is it that I have to make the exchange rate jump when in reality the exchange rate is aligned with the market rate?
They should be more respectful of the decisions of individuals and not be so arrogant
. I mean As (economist Friedrich) Hayek says, fatal arrogance, because behind this there is a problem of fatal arrogance, which is believing you know what the real
, equilibrium
exchange rate is ," he stated.
News in development