Miguel Pesce and Silvina Batakis, when they first met. Photo Presidency
After a week of the blue dollar hitting $ 273, financial prices broke their records and the central bank had to part with $ 730 million to contain demand and meet payments for energy imports, he said. Miguel Pesce. The president of the monetary entity has ruled out the possibility of “settings“ or “Sudden write-downs”.
“Both long-term and short-term, the foreign exchange market needs to answer in another way to what is happening now. Argentina has always had problems with his exchange balance. We always export little for the volume of growth we wanted to have “, indicated Pesce in conversation with Radius 10.
The central bank president has met Silvina Batakis since she took office less than a week ago as economy minister. Towards the end of the week when the blue dollar hit the $ 280 pesos ceiling to close at $ 273 on Friday, Pesce appeared in the media to provide explanations. On Friday he gave explanations on Todo Noticias and this Sunday he did Radius 10.
For the official, the increase in the price of fuel and energy in the world following the war in Ukraine are the axes to pay attention to. “It is bringing us problems in the situation because we are importing $ 2 billion of energy per month when we paid $ 90 million for energy imports in April, “he said.
Miguel Pesce at Silvina Batakis’ inauguration ceremony last Monday. Photo Reuters / Agustin Marcarian
“We are in a complex situation, but in the long term, when the level of exports decreases when it is not cold as in June and July and the demand for energy falls, we will have a exchange balance better”.
Miguel Pesce: “The official market worked normally”
Meanwhile, the president of the Central Bank spoke of the sudden jumps in the prices of the blue dollar, the MEP and the CCL in the past week due to the resignation of Martín Guzmán and delays in appointing his successor.
“Speculators always appear”, Pesce stressed and stated that “the official foreign exchange market, which moves $ 1,000 million a day, has been functioning normallythere was no shock in the exchange rate ”.
And he explained: “What we see in the government bond market where the exchange rate for those bonds that are listed in Argentina and abroad is reflected, or in the illegal dollaris that we have had sharp movements in the exchange rate because in both markets the Central Bank has a limited ability to intervene to avoid speculative maneuvers.
After a week of records in the price of the blue dollar, Miguel Pesce gave explanations in the media. Capture TV photos.
In this context, the president of the BCRA excluding the possibility of a devaluation of the official exchange rate. “There is no reason for this to happen.” “We are in a difficult situation, but we will be able to overcome it. There is no need to adjust or produce sudden write-downsor something like that, “he added.
“We have a cyclical problem with energy importwe are looking for financing for the increase of imports “, he contextualized and anticipated:” We hope around the end of August or September to be able to reduce these requests for financing that we have made to businesses “.
Meanwhile, Pesce except that essential products are missing in the gondolas and betting on the dialogue it has had in recent days with COPAL and various business groups.
“Nobody wants there to be a devaluationa sharp decline in wages, that there is an adjustment because it makes it difficult for companies to obtain financing, but it makes it more difficult for them to fall into a recession ”, he insisted.
ds
Source: Clarin
