The government closely controls the price of Dolar bluewho this Monday opened the week with a new escalation and closed at $462new nominal record, in the midst of the political and economic crisis that is shaking the Executive.
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Jorge Remes Lenicov: “Dollarisation is not suitable for Argentina”
Jorge Remes Lenicov was the Economy Minister that Eduardo Duhalde chose to defuse the crisis unleashed after the convertibility. Photo: Maurizio Nievas.
“THE dollarization does not suit Argentina“, warned Jorge Remes Lenicov, the Minister of Economy that Eduardo Duhalde chose, precisely, to deactivate the convertibility bomb that had begun during the government of Carlos Menem and which had strengthened after the social explosion of 2001 and the resignation of the then president, Fernando de la Rua.
Author of the book “115 days to disarm the bomb”, in reference to the process he had to go through to arrive at “de-dollarization”, he firmly rejected the dollarization that Javier Milei proposes as a solution to overcome the economic crisis that Argentina is going through go through. Read more here.
Overseas banks warn annual inflation could reach 150%
A trader works on the New York Stock Exchange. Photo: EFE
The large investment banks have negative expectations for the country, both for this year and for the next. JP Morgan sees prices rising 122% over the course of 2023, with a rebound towards 2024, when they would hit 150%. BNP Paribas estimates that inflation will be 135% this year, and does not rule out the possibility that the Government will reach double-digit monthly inflation, i.e. above 10%.
“The credibility of policies is weak and there are losses of monetary control, with risks for prices”, judges Goldman Sachs, which has not used its inflation projections in a widespread relationship between companies and the market, but has relied on the data of the Central Bank surveys with economists, which identify the CPI at 120% per year. Read more here.
The blue dollar closed at $462
The blue dollar, with no brakes.
The blue dollar opened the week with a new hectic day in which it touched 465 dollars and then closed at 462. The US currency has accumulated a rise of 62 dollars in the last ten days.
Source: Clarin
