Redrado, before entrepreneurs: “There is a lack of economic team with a serious anti-inflationary plan”

From the league of economists with a public management curriculum, Martín Redrado was one of those who began to flash again on the radar of the red circle. The former president of the Central Bank yesterday afternoon outlined a critical analysis of the economy at the Chamber of Commerce headquarters in a private meeting with the board of directors, such as Carlos Melconian, Ricardo Arriazu, Mariana Camino, Martin Rapetti and Diego Bossio.

In his powerpoint presentation, Redrado addressed the “growing challenges” in meeting the objectives being reviewed by the IMF, both the financial difficulties in the second quarter and the goal of lowering the fiscal issue to 1% of GDP and aging. of reserves. “The purpose of the reserve is the most complicated, especially since the gold era in money settlement is over.I find it complicated ”, expected.

In this context, he predicted greater exchange restrictions and controls, while warning about inflation: “What was signed into the Fund must be fulfilled, but a serious anti -inflationary program is needed, Inflation is steadily rising and the program does not suggest any anti-inflationary anchor or hope for growth, with wages worsening. “

Redrado raised the need to “anchor” expectations a few hours after the end of the second hearing to raise rates and in the midst of an official internship for the economics course, facing Cristina Kirchner and Martín Guzmán. Sergio Massa’s former adviser spoke with the vice president in March, when the CPI was released at 6.7%. Y met these days with governors and legislatorsincluding radical deputy Facundo Manes.

He was received by the CAC leadership, led by Natalio Mario Grinman, yesterday at the Paseo Colón building at 800 with coffee, water, tea and dry money. They asked him about the IMF, taxes, informal labor and prices. He replied that the tax burden needed to be lowered and a package of three laws for change the letter of the Central Bank, reduce the financial issue with quarterly objectives and de-indexed spending public.

“They’re always asking me for ideas about what to do in Argentina, I think an integrated economic team is needed, a comprehensive plan, someone who has all the economic variables in mind and in the laws that support it, a stabilization and growth program that is incompatible with the IMF program, but aims to overcome, in my opinion, something that is common in terms of results, ”he said.

Redrado has begun to sound like a possible replacement for Martín Guzmán in recent weeks, where the head of the Treasury has extended business support in a situation where, as he admitted, “he is being hit from all sides. ” In this situation, the president of Fundación Capital suggests a united group, leadership and laws with special majorities, as did the Ministers of the Economy Juan Sourrouille, Domingo Cavallo and Roberto Lavagna.

“Everyone wants to be economy ministers, but he speaks of an anti-rift approach, to overcome the situation, the meeting is very good,” summed up one of the listeners. “Martin has a very clear position: Argentina needs an Economy Minister backed by laws so that it feels it has powerWithout peace of mind, expectations are negative, ”said another executive who heard it yesterday.

The former central banker as well spoke about short -term “risks” and warned of difficulties in funding the public deficit by debt in pesos, after the Treasury’s crash in April, when it renewed 90% of maturities. For May, Redrado believes a refinancing of 130% will need to be reached and pointed out that demand for the peso, the level of deposits and reserves could generate “exchange and inflationary tensions.”

Alberto Grimoldi (Grimoldi), Guillermo Dietrich (Dietrich), Federico Braun (Association of United Supermarkets), Martín Cabrales (Cabrales), Marcelo Elizondo, Edgardo Phielipp, Angel Machado (Canon Medical Systems Argentina), Martin Kalpakian (Kalpakian Hnos), Maria Luisa Macchiavello (Droguería del Sud), Marcelo Tarakdjian (Telefónica) and Roberto Cetrolo (Cetrogar).

YN