2023-11-06 13:39:44
In an interview given on Sunday night, Sergio Massa gave some details regarding what he intends to achieve in economic matters if he becomes president. One of them has to do with the exchange market: He said he will lift the trap next year.
During a tense report, Sergio Massa confirmed to Luis Majul on LN+ that he is going to lift the stocks «when the fiscal year 2024 ends and we have a sufficient amount of dollar reserves so that the flow of trade is free and we do not have stress on our reserves. However, It did not specify that the end of the exchange controls that it foresees also applies to the purchase and sale of foreign currency for hoarding. (what today we call dollar savings).
The Minister of Economy trusts that the situation will be more favorable in 2024. «Next year is a good year, in terms of the fact that exports can be very good. but there is also a low level of debt maturity,” he said.
Massa estimates that a better agricultural campaign and a less demanding debt payment schedule would make it possible to strip the exchange market of the multiple restrictions that currently regulate it. «Next year the International Monetary Fund is only 5 billion or so million (dollars) and the debt with private bondholders does not represent what it represents in 2025«he added.
The “exchange unification” that did not arrive
President Alberto Fernández had indicated in December that, with Massa already as minister, they were working on an exchange rate unification. «“We are working to unify the exchange market, and we want to reach that goal, of course.”the top president had said in an interview with Diario Perfil, while pointing out that “What I would like most” is to do it in 2023.
Not only will such unification have to wait (at least until 2024), but in the months since these statements to date new types of changes have been created. The most eloquent example is what happened in July of this year, when Sergio Massa implemented a fiscal devaluation, with the application of differential rates of the PAIS tax to some imports. Likewise, the export increase program was extended to other sectors, and is no longer just a “soybean dollar.”
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