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For the Government, "you have to befriend the dollar stocks because Argentina is going to need regulations for a while"

2020-08-15T14:37:00.345Z


Cecilia Todesca affirmed it, who anticipated that they will be evaluating the possibility of applying more restrictions.


08/15/2020 - 11:15

  • Clarín.com
  • Politics

Given the concern in the national government about the exchange gap between the official dollar and the blue and the increase in the purchase of the solidarity dollar, the Deputy Chief of Cabinet of Ministers of the Nation, Cecilia Todesca said: "We would have to make friends with the stocks, Argentina is going to need regulations for a while. "

Days ago the Minister of Productive Development, Matías Kulfas described this price difference as "a problem."

"We always have an eye on the exchange market. Regarding the regulations I always say that we would have to make friends with the stocks, the regulations of the exchange market and the capital account are going to be necessary. It will not be today or tomorrow that we can release the market".

When consulted, in dialogue with Radio Miter , about the possibility of applying more restrictions to the purchase of the savings dollar, she anticipated: "We are going to evaluate it . "

Although he clarified: "I am not in a position to say that there will be more restrictions on the purchase of the retail dollar."

"We cannot spend the dollars in savings that remain sleeping under the mattress instead of going to the bank and becoming productive credit. If it remains in the bank, it can be granted to companies that need it," Todesca explained from the increase in the purchase of the dollar savings and the tendency not to deposit it in a dollar account at the bank but to remove it from the banking system.

And he proposed: "Turning Argentine savings towards the productive system is not a punishment, it is a condition for macroeconomic stability."

Todesca recalled that "the restriction of 200 dollars per month was promoted by the government of Mauricio Macri" although he considered that "it was late."

"We hope to be able to calm the macro but we have no battle won. Having a wide gap is not comfortable but you have to choose what the priorities are ," remarked the deputy chief of staff.

Economic measures

Asked about the economic measures that the President of the Nation Alberto Fernández advanced days ago and that have not yet been officially announced, Todesca announced: "I have not confirmed the announcement date. I can say that set of measures is divided into two. first it is for the exit of the pandemic with stimuli to the production ".

And he continued: "The second set has to do with the long term, productive credits for example, and is to put production and employment at the center of the scene."

Although he highlighted that the economy was severely hit by the pandemic, he assured: "We see a recovery in the level of activity" and stated: "T he fall in the level of activity this year will be very strong , we do not deny the reality of what what happens. We have to be focused on how this is going, in Argentina we have several layers of problems. "

In that sense, he explained: "There are day-to-day things but also more structural things. We have a short-term agenda and another for the medium and long term."

He also assessed that " a price and wage agreement will be essential to overcome the crisis ."

NE

Source: clarin

All news articles on 2020-08-15

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