In exactly one week on October 17, a new import control mechanism will come into operation, replacing the current SIMI. But also, this week, Sergio Massa’s economic team would launch two variants of the exchange rate: the postponed “Qatari dollar” and another differential exchange rate for payment for services international artists that they come to introduce themselves in the country.
take care of the dollar mattress reached in September, and facing a difficult last quarter of the year, Massa will continue to appeal to “tweaks”make changes to the exchange rate to prioritize dollars coming out of reserves aim to maintain the pace of activity.
In the midst of increasing controls, the producers of international cultural performances in the country have found themselves facing new obstacles. “Currency transfers have become a problem for the entire cultural spectrum, from a literary work to a musical show”, explained a source from the entertainment industry, who stressed that because of these obstacles there are “commitments made and even assumed that have not yet been paid”.
The boom in international artists in the country, with record ticket sales, puts this problem on the table. Without going any further, the British band Coldplay will be giving 10 shows in a few weeks in Argentina, and the millionaire that these artists will take for these concerts puts pressure on the reserves.
The so-called “Coldplay dollar” means that these companies can access the dollars needed to cancel their cultural contracts at an exchange rate higher than the official dollar.
Carlo Rotenbergpresident of the Argentine Association of Theater and Music Entrepreneurs, explained: “Claiming the long-awaited” Cultural Dollar “as” Coldplay Dollar “is minimize the extent of how this issue involves the entire supply chain that makes shows with some participation from abroad, its national sources of work, its indirect economy and producers “.
Businessmen and the government have been negotiating for months and this one dollar “premium” proposal for this sector has come from manufacturers. The government reportedly agreed with the industry chambers an additional 30% on the dollar value in the MULCand this new adaptation to the trap would be published in the Official Gazette in the next few hours.
“This leadership has the consent of the companies gathered in the Chamber. We did it by managing to understand the problems of the country we are going through and being able to put on both sides, together with the Government, the maximum possible effort to continue making the opportunity valid if we can continue to bring foreign artists to Argentina, “said Carlos Rottemberg.
In parallel, there are expectations for the announcement of a dollar differential for tourists. Sources aware of the decisions explained that the requests from CAME, UIA, Adefa, Camarco and Cegera regarding the increase in the price of the tourist dollar have already been received by the Ministry of Economy and that there could be news in the coming days.
Source: Clarin
