2023-07-20 18:59:35
In view of the different repercussions that the dollar has had in different sectors of the economy, one of those affected would be imported products, which due to increases modify the value of their prices. In this context, this medium communicated with the economist Alejandro Giacoia.
“The relationship between the price of imported products and the official dollar, began to unravel and is getting closer to the variation or moving in line with the parallel dollar”, commented Alejandro Giacoia regarding the prices of imported products. “This relationship began to break down especially since 2020 and with greater emphasis in mid-2022. This is because of the stocks and the tightening of import restrictions”, he added.
What would be the repercussions of a devaluation right now?
For Giacoia, it is difficult to affirm that in the event of a devaluation this will not be transferred to prices. “What does allow us to think this, It is that possibly the transfer to prices is less than it would be if there were not so many imported products priced at the parallel dollar“, complete.
Regarding the tax on imports, the economist said that they are “patches” that they want to put in order to try to get out of trouble and prevent reserves from falling further. Also, he argued that, “with a gap that revolves around 90 or 100%, the official dollar is very cheap and very behind, therefore, the solution is to correct the official dollar”.
Finally, regarding the arrival of a devaluation, the interviewee pointed out: “I believe that sooner or later there will be a devaluation and that is what is needed. However, you have to think that a devaluation in this context and without any plan, perhaps it will end up going to prices and does not solve anything”. Along the same lines, he clarified that the devaluation has to come in the context of a macroeconomic plan that seeks to reduce the deficit and correct the official dollar.
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