2024-03-12 22:00:00
The Minister of Economy, Luis Caputo, indicated that the Government maintains talks with the International Monetary Fund (IMF) and that the organization is open to a new program.
“The $15 billion might come from the Fund or from somewhere else. We are talking to the Fund. We’re just starting to talk regarding the new program, but we haven’t come up with anything at all. Not even if it is going to involve more money or not,” he commented at the 2024 edition of the AmCham Summit event, which brought together representatives of American companies in Argentina.
“They always said that They were open to a new program. and as part of it we are talking,” he told the press.
Javier Milei celebrated the “deflation” in February: “Caputo’s work is formidable”
This Monday, President Javier Milei had expressed that “if they give me 15,000 million dollars, I will open the stocks tomorrow and the economy takes off”
“Dollarization or currency competition?” he asked Facundo Gómez Minujínpresident of AmCham and senior country officer of JP Morgan to Luis Caputo.
Currency competition or dollarization?
“The President started talking regarding currency competition before the elections, perhaps it went unnoticed by many. The idea is to go there, the objective is to try to lower inflation more to a shock level. We are not inclined to think regarding a gradual monetary scenario, people have no tolerance for a gradual reduction, inflation has to go down more than the shock and the currency competition system gives a faster recovery,” he said but warned that “not “We can do it now because more money would be needed.”
He added that the currency competition will involve a free float When the conditions are met, I cannot guess the date.
“If we know that it is going to work and inflation is going to go down, and “It will allow a faster recovery of the economy.”he asserted.
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