The economic camp of Together for Change and the UCR clarified yesterday afternoon the statements of the governor and head of the UCR, Gerardo Morales, on what he would do with the debt in pesos if it arrives at the Casa Rosada: “We are going to have to remodel everything to implement our plan and restore order,” he said.
But its economists immediately clarified that the idea of the technical teams is to carry out a “voluntary reprofiling” unlike that carried out by Mauricio Macri in August 2019 when the Minister of Economy was Hernán Lacunza. In this way, the radicalism teams have in mind an operation to exchange bonds in pesos to lengthen the terms of maturity “according to the rules of the market” since “a new default event would be harmful for Argentina”.
“The goal is always a refinancing, with extension of terms, which is technically called voluntary refiling. The term reprofiling is usually associated in Argentina with a restructuring, or unilateral or involuntary reprofiling. It is worth clarifying the distinction well to avoid confusion,” explained economist Eduardo Levy Yeyati, coordinator of the technical teams of the Alem Foundation of the UCR.
Morales launched himself as a pre-presidential candidate at the Gran Rex theater on Wednesday, in an act plagued by criticism of the ruling party. In the precedent there was a strong sentence about what he would do with Argentina’s debt if he reached the government. “We will have to reshape everything to implement our plan and restore order,” he said.
In this way, Morales spoke out against the negotiation, which after long weeks, Economy Minister Sergio Massa managed to close. The exchange, which opened a week ago, allowed the government to pay $4.3 trillion in short-term 2024 and 2025 maturities.
With the slogan “Let’s turn Argentina upside down”, the president of Jujuy also railed against the management of Alberto Fernández and put sensitive issues such as inflation, insecurity, drug trafficking and education on the table.
“Radicalism is not a parliamentary party but an executive party, a government party, a responsible party”, Morales insisted in his speech, alluding to the role he intends for the centenary party in the event of a hypothetical future government of Together for the change , in which it implies the search for something different from what happened between 2015 and 2019.
The economic teams of radicalism work with those of the PRO and the CC through their respective foundations. Its leaders are Levy Yeyati, Hernán Lacunza and Matías Sturt.
“Today, more than ever, the principles that gave birth to our party are in force and that we must bear as standard bearers in the framework of Together for Change,” Morales urged during Wednesday’s event.
Source: Clarin
