2023-09-13 17:29:00
“We must make a new agreement with the IMF that is completely different”he pointed Agustín D’Atellisdirector of the Central Bank of the Argentine Republic (BCRA).
According to D’Atellis, in the current agreement with the international financial organization “Argentina does not pay capital to amortize that net debt” and, in this way, debt is not reduced.
In statements to El Destape, the director of the Central Bank maintained that a new agreement would allow greater growth and employment, in addition to “generate the necessary resources to pay the Fund with the aim of getting rid of the debt and hoping that an irresponsible government does not return once more.
In this sense, he considered that a new program with the Fund should be able “stretch the expiration schedule, That is to say, that these payments be extended over time to decompress the pressure, and coordinate a plan where the IMF understands the dynamics of the virtuous circle, to gradually reduce the inflation rate and the country grows, to pay the Fund and with the objective of amortizing that debt”.
The origin of the debt with the IMF
Likewise, D’Atellis expressed himself in favor of the measures proposed by the Minister of Economy and presidential candidate for Unión Por La Patria, Sergio Massa, of exempt from Profits to favor the middle class of workers and restore salaries.
Income
“There is a need to recover income” and “it is true that there are sectors that need some reinforcements and work will continue on that,” he said, predicting new measures for workers who are not on the payroll and other sectors.
“During the 4 years of Macri’s government, salaries intentionally suffered a lot. They wanted salaries to go down, and they achieved it,” he recalled. He also highlighted for the opposition, “The problem is the worker who has a subsidy on the fare or transportation, it is a big problem.”
On the other hand, he continued, “the large subsidies that large corporations receive that carry out their businesses, they say nothing,” he added.
Opinion on dollarization
Lastly, he considered that the dollarization proposal of the presidential candidate for La Libertad Avanza, Javier Milei, “It’s a big problem: just remember the 2001 crisis, which was the corollary of the Convertibility of the ’90s; a monetary restriction similar to what they want to propose now,” he considered.
Finally, he stressed that: “Closing the Central Bank and making the dollar your legal tender is ridiculous and impractical.” “There is no logic at all, there is no sense in what they are saying. There is no possibility. It is important to clarify it,” he concluded.
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