2023-11-06 20:37:21
There are less than two weeks until the runoff elections between Sergio Massa and Javier Milei and the expectations of the markets are manifested through the uncertainty of a macroeconomy that shows fragility, for this reason Channel E spoke with the journalist Liliana Franco.
The candidate Sergio Massa “said that he will lift the stocks at the end of 2024, he estimated in November,” commented the interviewee. She also commented that, following the next elections the crawling peg of .3% monthly returns, “this is more exchange rate delay“because it does not accompany the inflationary level.
“What worries me personally is that neither of the two candidates said that they are going to implement a stabilization plan,” Franco said. He then added: “The macroeconomic imbalances that Argentina has are very serious and demand much more than a little plan to improve inflation, because it considers many variables more than just the fiscal, but also the social.” “According to the information I have, neither of the two candidates has a team working on it and that is what worries me,” he said.
According to the journalist: “Interest rates are recovering, but this has its correlation in activity and the level of debt”. “The silver plan meant a series of presentations that the financial system gave at very convenient rates; then you have to pay that card.” Although, “these loans are convenient, salaries are not recovering to the level of inflation.” “This gap will begin to be felt at the end of the year,” he sentenced.
Regarding the debt that must be paid to the IMF, Franco asserted that, “the Central Bank’s reserves are already negative, there are serious problems in the macroeconomy and it cannot continue in this way.” He then added: “Massa believes that next year the currency situation will be much better than this yeartherefore “It will have less fuel imports and may even have a surplus, in addition to a better harvest.”.
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