Patricia Bullrich knew she had to kick hard and center. Her speech was supposed to convince the country’s top businessmen gathered this week at the Llao Llao Forum, a selected annual meeting of the men and women of the “red circle”which this time, given the proximity of the elections, was tinged with a strong political component.
“We are about to demolish the economic regime of the last 20 years, which has drastically reduced the incentives to invest, export and create jobs. To do this, we will promote reforms that change economic incentives, restore fiscal solvency and gradually rebuild credibility,” said the Together for Change candidate at the first dinner of the event which will last until Wednesday at the exclusive hotel in the city of Bariloche.
Bullrich spoke for more than half an hour in a presentation that aimed to show what is the political vision of the economic crisis and what are the alternatives that, if it were a government, its management would take. “My journey and that of 46 million Argentines is the same: to face the challenges one by one to change the regime that oppresses us and transform Argentina”, he assured before opening himself to the questions of the entrepreneurs.
Faced with the uncertainty generated by the imbalances accumulated in the macroeconomy, Bullrich underlined “order” throughout his presentation: “The concept that will govern our government will be the order concept. Economic Order. Order to face the challenges against drug trafficking and people’s safety. Order in education, in health, in the state, in the provinces”, he assured before the watchful eye of the people who lead the country’s most important fortunes.
Bullrich, who arrived at the hotel accompanied by her economic adviser, Luciano Laspina di Rosario, assured: “It is clear to me that since the first day I have to implement the set of initiatives that will lead us to progress. This is my strategy… Our vision of the future is a country in order, where the Law is respected, in which the macroeconomy stabilizes, where every potential becomes a gift of well-being”.
One of the main factors of “order” is, for the former Security Minister, the variety and profusion of exchange rates and the imbalances associated with multiple dollars. “Exiting the exchange rate trap has been a priority since day zero. The sooner the better,” he said, adding, “There is no economic regime change without first blowing up the exchange regime of Kirchnerism. It is a priority to dismantle exchange controls.”
Bullrich assured that this is one of the main decisions that must be taken for the rest of the economic players to decide to invest. But not the only one. “With a team of economists and jurists we are working on deep economic deregulation and bureaucratic hurdles, reviewing each of the 3,600 laws in force, to detect distortions, privileges and benefits, and then eliminate them, minimize them, be able to reduce costs and accelerate economic activity,” he said.
While it didn’t go to extremes of “dynamite the Central Bank”, as is one of the catchphrases of the other candidate who attracts attention in several sectors, Javier Milei, the PRO referent said that the reform he proposes will also reach the monetary authority.
“We are going to restore fiscal balance, in order to limit the issuance of money to finance the Treasury; strengthen the central bank balance and reduce the quasi-fiscal deficit; align relative prices, especially the official exchange rate and utility rates; and finally, implement a monetary reform. In other words, a new regulatory framework for the Central Bank,” he remarked.
Bullrich is the first in a list of various opposition officials and candidates who will try to persuade businessmen to start the electoral contest. This Tuesday at noon it will be the turn of the Libertad Avanza candidate, Javier Milei, who arrived at Llao Llao after 9.30pm.
In press statements, the MP proposed an internship for Bullrich, but outside Together for Change, so the opposition party’s internship is high on the agenda for the meeting. On Wednesday afternoon, the former governor of Buenos Aires, María Eugenia Vidal, will present herself before the business community.
The presence of the head of government of Buenos Aires, Horacio Rodríguez Larreta, is expected for dinner on the second day, who will try to plant a flag and differentiate himself from the other candidates of his party. The great unknown is the presence of the governing party: the Minister of the Interior, Eduardo Wado de Pedro, and the Minister of the Economy, Sergio Massa, had been summoned but warned that they will not be part of the game. For Wednesday, the closure of the hand of President Alberto Fernández is still in doubt.
Source: Clarin
