Opposition leaders came out to question the announcement by Economy Minister Sergio Massa, who this Wednesday announced the decision to open a "repurchase process of Argentina's external debt for more than one billion dollars."
"A country without credit, forced to force local debt swaps with instruments that mature every 6 months, 'has the luxury' of prepaying debt that matures within 6 years, with dollars from a central bank without reserves. A worrying sign for the weights that see their support leave", wrote the deputy Luciano Laspina.
Meanwhile, Senator Alfredo Cornejo said that the decision of the head of the Treasury "is not good news", in the midst of the strong shot of the blue.
"They are drowning blows from a government that cannot control the devaluation. Since they cannot generate genuine growth or offer expectations for investors, they resort to these financial tricks. It is all part of the story," wrote the radical leader.
Guido Sandleris, former president of the Central Bank, took the opportunity to recall the words of President Alberto Fernández during the act in José C. Paz where he accused the Cambiemos government of having indebted the country.
"The current government took three times more debt per year than the Macri government and twice more than CFK's. The eternal fight of Kirchnerism against the data," he tweeted along with a comparative table that supports his words.
According to the national official, the objective of the measure is "to normalize our micro and macroeconomy and improve the profile of our debt" and he entrusted the Central to carry out this operation, which -as he explained- "will bring benefits to the financial program and also to the legal system fiscal".
For his part, the economist and deputy Martín Tetaz questioned Minister Massa about the measure and described it as "bread for today, hunger for tomorrow."
He although he recognized the "fiscal logic" from the financial point of view, as part of the reduction of costs of the Argentine debt.
"As a general sign, as a bet on reducing the country risk, that Argentina grows, it has nothing to do with it because it is like rushing to pay the credit card to show good compliance with the bank, knowing that you are going to spend 50 lucas more than what you earn", he exemplified.
Alfonso Prat-Gay was another of those who pointed against the Government's bet, which aims to improve the debt profile, the bet is to contain the exchange pressure.
"It is not understood: weren't the few dollars in the reserves 'for production?'
It turns out that now they are to "improve the country risk and the maturities...of 2029/30? There are 7 years left to pay them! Let's hope that no official has bought these titles recently," the economist ironized.
look too
Battery of measures to stop the dollar: they raise the interest rate to the banks
"Total delirium" and "fulbito for the tribune", the critics of the economists after the announcement of Sergio Massa on the debt in dollars
