2023-09-29 23:07:02
For the economist Salvador Di Stéfano we went from a bargain dollar to a blue dollar on offer. Justify this play on words by comparing the values of this week’s North American currency, It started on Monday at $750 and ended at $808In cordoba with peaks of $814 during the followingnoon of the same Friday.
“Look, the ‘bargain’ dollar was 730-740 pesos. Today the dollar at $800 is already ‘a deal’, at $850 ‘it is cheap’ and at $900 it is in price,” the speaker stated.
For Di Stéfano, the value of the dollar this Friday is basically due to “because we have an economic plan that continues to increase spending, we have a Santa Claus candidate who gives money and we have no support. If we unite all the monetary instruments, those that have the name of remedy gives us a dollar worth a thousand pesos,” he explained.
When consulted by the future markets, facing the elections, it is estimated that there will be a second round in the country seeing only the expected values of the currency. “The market reads that at the end of October the dollar might be at $388. What it reads, that there will be no winner in the first round. That there may be a winner in the runoff. The dollar in November will be at $504 and in December at $660,” he demonstrated and clarified that it is the official value, in the case of the blue it must be multiplied by two.
The reasons that drive these increases, according to Salvador Di Stéfano, the next government in December will have a change in relative prices. “Whoever takes over of the three will have to adjust public rates, the price of gas, energy, everything must be accommodated. If you are going to freeze the dollar until following the elections, you are creating a spring effect. After the elections you are going to have a jump “
A country that is decapitalized and generates poverty
In the dialogue with journalists from the Nación Mas, Di Stéfano questioned the soybean dollar and warned that there are only 6 million tons left to sell. “If I give you a premium today to sell off the soybeans, I will sell it. But this is a mortgage for tomorrow. If you take the withholdings out of the box, you call the oil workers and tell them, guys, settle the 25% outside. Everything is poorly structured. It is a plan that cannot go far, it is like a car with two Renault twelve wheels and two tractor wheels cannot go anywhere,” he remarked.
The fundamental thing regarding the talk was the future of the country’s production, not just the poverty rates. Argentina will not receive the dollars that the government estimates for next year, for several reasons, including the weather that continues to be unfavorable and the international prices that are falling.
“There are only 6 million tons of unsold soybeans, much more are not there. There is a problem here, stocks in the United States say that there is a lot of soybeans in the United States. The cold does not allow sowing. There are no supplies and on top of that it doesn’t rain. In Córdoba the pig farms are being dismantled, with so many soy dollars there is no food for the pigs. We are having a crisis in the value chain that is decapitalizing Argentina.
Only 17% of corn was planted because it did not rain. We are in a process of decapitalization that is worse than poverty. Who is in charge of making businessmen earn more money. Nobody, they only deal with the suburbs and not the interior of the country,” he concluded.
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