Inflation and the Dollar: The coordinator of the new unit is in charge of controlling trade and imports

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Fifteen days after the announcement, the Ministry of the Economy created the Unit that will be responsible for analyzing trade transactions, check prices and importsbetween rising inflation and a shortage of dollars.

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This was one of the measures which Sergio Massa announced the weekend following the release of April inflation data, that there was 8.4%, more than in March. And after meeting his team and circulating the corresponding photo.

The Unit for monitoring, traceability and promotion of commercial operations will be dedicated to the analysis “on a daily basis” the “trading of goods and services in domestic and foreign trade”. ahead will be William Michael, current director of customs, according to resolution 697/2023 published this Tuesday in the Official Gazette. The designation of him indicates “ensure immediate operation of Unity”,

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The new group will consist of five dependencies. The Ministry of Economy will participate trade secretaries; Industry and agriculture; by the AFIP, will be composed of members of the General Directorate of Taxes (DGI) and of the General Directorate of Resources of Social Security and the Central Bank will send a representative of the Superintendence of Financial and exchange institutions.

The National Insurance Superintendence (SSN), the Financial Information Unit (UIF) and the National Securities Commission (CNV) will also be part of it.

The Unit must monitor the purchase and sale of goods and services in domestic and foreign trade; avoid dominant positions; verify the traceability of the goods and the correct taxation; and guide the consumer.

“Intervening jurisdiction holders will analyze the related information on a daily basis and will take the necessary measures within its competence”, determines the resolution.

the other measures

Among the measures that Massa announced in early May, together with the creation of the Unit, was the increase the rate from 91 to 97% annually, which implies 8.08% monthly and 154% annually effective, so that the pesos do not go to the dollar.

They also reduced the cost of 9 percentage points Funding now 12the program used for the purchase of domestic products.

Also interest rates on credit cards have been lowered. And they ordered an increase in debit card use by vulnerable sectors. The return limit has been increased from $2,028 to $4,056 per month, which reaches purchases of up to $27,040 per month.

Source: Clarin

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