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Sergio Massa defended the exchange of securities in dollars and asked for an opinion from the UBA to define whether ANSeS participates

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Sergio Massa publicly defended the exchange of public entities’ bonds in dollars announced a few days ago and revealed that he had asked the University of Buenos Aires for an opinion to define whether the papers held by AnSeS will be included in the operation.

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“I have taken the decision that the UBA, through the Faculty of Economics, make an opinion to see if the exchange is beneficial for ANSeS. If the opinion says it is not beneficial, ANSeS will not intervene in the exchange,” Massa assured in a dialogue with Miter radio.

After a few days of criticism from the opposition, including a lapidary response from former ANSeS head Diego Bossio, and also after being denounced together with President Alberto Fernández for the swap, Massa argued that the measure suggests an “order” in the management of public debt within the state.

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“We had 113 public bodies that managed the buying and selling of securities in an uncoordinated way, often causing damage to the state, for an economy that needs order which is a problem”, defined the Minister of Economy.

Massa said the bond swap would reduce foreign-law debt by $4 billion. “We took it from different baskets and somehow turned it into less Argentine external debt. We will notify the New York Stock Exchange so that these bonds stop trading and can be sold in the system and thus lower the debt level.”

The leader of the Renovation Front said that ANSeS will earn 2 billion dollars and that the organization will be given the choice of whether to liquidate the dual bonds it will receive at the coefficient of inflation or around the price of the dollar.

“For the retiree, this profit from AnSeS increases the Sustainability Guarantee Fund by more than 400 billion pesos which will be allocated to loans for retirees and productive loans”, he said and responded to strong criticism of the operation’s opposition announced Wednesday. .

As soon as news of the Economy Ministry’s decision became known, there was unanimous agreement from the opposition to question the swap. “Massa’s biggest betrayal is handing over dollar funds from the pension fund. And it’s the best deal for the banks, and all for two or three days of calm,” said Elisa Carrió, who called Massa a “serial crook ” and he anticipated that he was studying the presentation of an amparo to stop the operation.

“Let’s say it in Creole, Massa’s measures are for hyperpanic, they want to give liquidity to the CCL to prevent a run on deposits from exploiting the gap, in a context of drought that will subtract 20 billion dollars from the economy”. the economist Martín Tetaz, a Radical deputy, joined.

Diego Bossio, former head of AnSeS during the government of Cristina Kirchner, was one of the toughest. “THEY’RE SPECULATING WITH PENSIONER’S ASSETS Literally between shit and midnight, we found out that the government would be weighting the Sustainability Guarantee Fund’s bonds in dollars,” he wrote in capital letters.

“They say it’s to stabilize the economy, but they’re playing roulette with the savings of Argentine workers and future retirees,” said former official K, who was known to be Massa’s campaign manager in previous years, but now I don’t hesitate to criticize Him. Unfiltered.

He added, “Cristina would never have allowed me to make a decision of this nature, hand over the dollar bonds or shares to private individuals because it exposes the state’s ability to meet dollar payment at private parties in the future. ”

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Source: Clarin

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