Miguel Angel Pesce explained why the bills were not printed in the higher denomination

The president of the Central Bank, Miguel Ángel Pesce, introduced a new variable to justify the lack of printing of banknotes with denominations other than $ 1,000. “This is to stimulate greater use of electronic payment methods”, He clarified and excluded that this was for not validating higher inflation.

When asked why he did not take advantage of the higher denomination fee printing, the head of the BCRA gave a strange explanation: “At the same time that we are experiencing this inflationary process, what is happening is an increase in electronic transfers and payments,” he said. sabi.

In this sense, he added that “the material system of banknotes has a very significant cost of production and logistics, in that sense, the electronic system is more efficient and growing faster. then, larger transactions must be made through these methods“.

When asked in talking to Ernesto Tenembaum on the radio with Vos about whether the costs of printing more than $ 1,000 bills could not be reduced by printing a higher denomination such as $ 5,000 or $ 10,000 , Pesce insisted that the bet is that the transactions will be increasingly electronic and not physical.

Then, the head of the BCRA had a tense crossroads with journalist Jairo Straccia. Straccia asked Pesce: “Doesn’t it make noise that our highest denomination bill equals a port of health cheese?“. At the time of giving way to respond, the journalist returned to the idea: “I’m not going to the supermarket with an electronic check.”

The BCRA leader was about to answer when he suddenly stopped and angrily told him: “He laughs at my argument because not only does he have an electronic check, he also has credit cards, debit cards and an electronic wallet.” And he concludes: “All of these transactions are growing fast”

The

Inflation

“We expect inflation to slow in the coming months”maintained and ensured that according to consultants there would be no strong variation “even in the months that tariff adjustments are taking place”, the head of the Central Bank reiterated confidence in lowering the cost of living.

Speaking to “We have had a shock with the rise in the price of commodities this year and it is exacerbating the inflationary process,” he said. And he added: “We see that in May we should have a slowdown in inflation and no one predicts that this phenomenon will return later.”

“Argentina is a country with a long betrayal of inflationary”he admitted in statements to Radio con Vos.

YN