In the midst of the opposition's questioning of the economic measures ordered by the Government to try to contain the dollar and bring peace of mind to the markets, Together for Change published a harsh statement this Saturday in which they question that
no substantive measures are taken and warn for "the risk of a chaotic exit"
"The Government of the Front of All has decided to repeat the strategy that did so much damage to Argentines in the past, postponing fundamental solutions and resorting to short-term measures that '
lengthen the fuse at the cost of enlarging the bomb
,'" he maintains. the national table of Together for Change in the text.
After enumerating the measures that, according to that space, highlight the mismanagement of Alberto Fernández, from the main opposition space they warn that the country is "facing a
delicate scenario of financial fragility
that increases the risk of a chaotic exit."
Together for Change, the statement states that the government is following "an economic course that
raises the risk of a much deeper crisis
than the one that Argentines are already suffering."
In the detail of the policies that criticize the Executive, they warn that "the fiscal deficit fell, but thanks to the delay in pensions and salaries due to inflation, the quasi-fiscal deficit of the BCRA increased and monetary financing from the Treasury continued through channels that were not very transparent, reaching almost $800 billion in the last quarter of the year, equivalent to almost 20% of the monetary base or 1% of GDP".
They also point out with concern that "
the Central Bank's debt has grown and already exceeds $10 trillion
(or 12% of GDP) and the payment of its interest requires printing bills for the equivalent of a monetary base every six months."
They also question in the statement the recent announcement by the Minister of Economy, Sergio Massa, of the repurchase of debt bonds.
"The exchange gap is sustained at around 90% and dollars, which are scarce for the purchase of inputs and are distributed discretionally, are enough for an
improvised and doubtful repurchase of public debt
with distant maturities that compromises the few remaining net reserves at the expense of production, work and growth in 2023".
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