Miguel Pesce, director of the Central Bank
Central bank president Miguel Pesce admitted that “parallel dollars add noise to expectations” after the cash tally surpassed $ 300 ($ 301) on Friday. For its part, the blue closed at $ 293. “They add noise to expectations,” the president of the monetary authority said in statements to Radio 10. “But it doesn’t affect the strategy we have on the official dollar.”
Pesce explained that the blue and financial dollars “have a certain melody but they don’t move in the same way”. According to the official, the market with the highest volume is the formal one, where daily transactions of $ 1,000 million, $ 60 million in the financial sector and $ 3 million in the blue market are carried out.
Pesce’s statements are after a difficult week for the Central Bank. The blue dollar rose $ 4 on Friday and closed at $ 293. In recent weeks it has risen by 22.6%, shortly after the resignation and exit from Economy Minister Martín Guzmán. The acceleration is notorious when you take into account that in the previous two weeks it had risen by 10%. In other words, the speed at which it increased has doubled.
For its part, on Friday the exchange rate with liqui, which companies use to carry out financial transactions and buy dollars, exceeded $ 300 and closed at $ 301.5. It also showed a performance similar to that of the blues in terms of how much it grew before and after the departure of Minister Guzmán. Since he left, the increase was 19.5% and before 5.9%.
According to this newspaper, “the lack of dollars is desperate”, the Minister of Economy, Silvina Batakis warned, in a meeting with colleagues from the Council of Ministers, days ago, to try to align the speech. “The situation is very delicate”.
However, Pesce looked more optimistic yesterday. With regard to reserves, he explained that the target set for June for the accumulation of reserves at the IMF has been achieved and that he believes that the same will be achieved in view of September: “as I have already said, we have very high levels of energy imports: 2,000 million monthly, is 25% of the total imports for the month and this brings us some stress in the foreign exchange market. This is why we asked importers to finance the increase in imports compared to next year at 180 days. We are having a positive effect: $ 3.2 billion in funding has already been obtained and we hope it will continue ”.
And he added that “We do not believe there is a need for an adjustment that contracts aggregate demand or a violent devaluation, with the effects it has on inflation and poverty in our country. What we need is for importers to finance part of the increase in their imports this year. “
Pesce also criticized Guzmán when he said that “we are working in a better way. Batakis not only has a strong academic background, but he also has managerial experience, as in my case. I was Secretary of the City Treasury, Deputy of the Central … So, when you work with people who have the same experience, dialogue and the ability to reach an understanding becomes easier ”.
It seems positive to me that Afip has increased the withholding tax for those who buy dollars or pay for trips abroad “, said Pesce about the measure that increased the advance on personal income tax from 35 to 45% for purchases by card abroad or imported goods.
Central bank president Miguel Pesce admitted that “parallel dollars add noise to expectations” after the cash tally surpassed $ 300 ($ 301) on Friday. For its part, the blue closed at $ 293.
“Adding noise to expectations,” the chairman of the monetary authority said in statements to Radio 10. “But it doesn’t affect the strategy we have on the official dollar.”
Pesce explained that the blue and financial dollars “have a certain melody but they don’t move in the same way”. According to the official, the market with the largest volume is the formal one, where daily transactions of $ 1,000 million are made, in the financial market $ 60 million and in the blue market $ 3 million.
Pesce’s statements are after a difficult week for the Central Bank.
The blue dollar rose $ 4 on Friday and closed at $ 293. In recent weeks it has risen by 22.6%, shortly after the resignation and exit from Economy Minister Martín Guzmán. The acceleration is notorious when you take into account that in the previous two weeks it had risen by 10%. In other words, the speed at which it increased has doubled.
For its part, on Friday the exchange rate with liqui, which companies use to carry out financial transactions and buy dollars, exceeded $ 300 and closed at $ 301.5. It also showed a performance similar to that of the blues in terms of how much it grew before and after the departure of Minister Guzmán. Since he left, the increase was 19.5% and before 5.9%.
According to this newspaper, “the lack of dollars is desperate”, the Minister of Economy, Silvina Batakis warned, in a meeting with colleagues from the Council of Ministers, days ago, to try to align the speech. “The situation is very delicate”.
However, Pesce looked more optimistic yesterday. With regard to reserves, he explained that the target set for June for the accumulation of reserves at the IMF has been achieved and that he believes that the same will be achieved in view of September: “as I have already said, we have very high levels of energy imports: 2,000 million monthly, is 25% of the total imports for the month and this brings us some stress in the foreign exchange market. This is why we asked importers to finance the increase in imports compared to next year at 180 days. We are having a positive effect: $ 3.2 billion in funding has already been obtained and we hope it will continue ”.
And he added that “We do not believe there is a need for an adjustment that contracts aggregate demand or a violent devaluation, with the effects it has on inflation and poverty in our country. What we need is for importers to finance part of the increase in their imports this year. “
Pesce also criticized Guzmán when he said that “we are working in a better way. Batakis not only has a strong academic background, but he also has managerial experience, as in my case. I was Secretary of the City Treasury, Deputy of the Central … So, when you work with people who have the same experience, dialogue and the ability to reach an understanding becomes easier ”.
It seems positive to me that Afip has increased the withholding tax for those who buy dollars or pay for trips abroad “, said Pesce about the measure that increased the advance on personal income tax from 35 to 45% for purchases by card abroad or imported goods.
Source: Clarin
