Economist and presidential advisor Fausto Spotorno considered that the Government managed to get the country out of “total bankruptcy” and that it is now focused on “organizing” the economy in order to later be able to lift the exchange rate.
“We have already left the stage of total bankruptcy, we have entered the stage of organizing everything to make ends meet and the last stage is missing, which is the exit from the stocks,” he assessed.
According to Spotorno, Argentina is now in a “transition after an economic program that had been exhausted for more than ten years.”
“We had an inflationary process that was growing at astronomical speeds. The big question was: what was done with that? And there was not much room to maintain that economic program, a radical change had to be made,” he emphasized.
In statements to Spliendid radio, the economist also pointed out that “a couple of things the Government decided to spend on as essential, and with everything else it is waiting for money to come in.”
He also said that one of the decisions of the Executive Branch was “not to go for an independent Central Bank, because it understood that it was in an emergency and that it was necessary for it to be fully aligned” with economic policy.
Regarding the Presidential Advisory Council, which Spotorno is a member of, he explained: “it is a kind of table of people from the market and the economy who are not involved in public service all day and can look a little further afield.”
“The function is to have a group of people who are part of the real economy, but who are not part of the Government, to have an overview of people who work in industry, in logistics, in the capital markets. The function is not to get involved in micro or macroeconomics,” he highlighted.
#Argentina
