“Freedom is exercised, not just proclaimed”: harsh criticism from a rural body of Javier Milei for regulation by the Central Bank

Argentina’s Rural Confederations (CRA) have taken up arms against Javier Milei’s government after the extension of a Central Bank rule that makes loans to producers more expensive.

“Messrs @jMilei (Javier Mieli) @luiscaputoar (Luis Caputo) @vilellafer (Fernando Vilella) – and Santiago Bausili: The BCRA resolution penalizing producers who maintain soybeans – through an interest rate increase – is a measure that discriminates and harms producers”, criticized one of the subjects of the liaison table in a post on the social network X (ExTwitter).

Central Bank Resolution 7720, issued in March 2023 by Kirchnerism, increases interest rates for credit operations of those who have stored more than 5% of their production.

“The possession of wheat It’s not speculative, but a reserve of value against future increases in production costs. We ask the government to reconsider this arbitrary measure and eliminate these types of actions that marginalize producers.

“Freedom is exercised, not just proclaimed“, closed the discussion in X..

The liaison table was critical of the government Javier Milei after the decision to increase withholding taxes on agricultural products, in the countryside. the talk was the drop to zero. After several meetings between ruralists with Vilella, it was established that 18 regional economies pay no withholding taxes, while lemon essential oil and wine pay 8%, while soy by-products rise to 33%.

But now the anger has intensified after the extension of resolution 7720 for another six months.

Last week heThe liaison table decided to send a note urgently to the president of the Central Bank, Santiago Bausilli, but so far they have had no response.

“It is incomprehensible that, instead of moving towards a scenario of greater flexibility and economic openness, measures are perpetuated that unfairly punish agricultural producers who are far from using their cereals in a speculative way”, criticized the once-known liaison table the provision.

This surcharge, they explained, It not only affects those who are dedicated exclusively to soybean production, but also affects mixed producers.s, who see, for example, how the interest rate for investments in livestock increases.

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