The Minister of Economy, Luis Caputoannounced that Argentina left behind the stage of interest rates negative. When announcing that the bond tender paid for the first time since the beginning of his government a rate higher than monthly inflation, he pointed out that the monetary policy had already met its objective, “When we arrived, the interest on remunerated liabilities represented 40%, today is 4%,” he clarified.
“On the outside they wonder how we could lower the inflation with negative interest rates,” he said and explained that in Argentina, since there is no credit, the rate does not leverage consumption as happens in other countries.
And he asked the audience not to listen to those who criticize the economic plan“the economy went from having a risk of hyperinflation to talking about mortgage loans in 60 days. We reduced the deficit from day one and we continue to maintain it. May closed with a huge surplus,” he reminded them.
Within the framework of his dissertation within the framework of the ExpoEfi 2024, Caputo, appealed to the medical metaphor to refer to the Argentina that they inherited from the previous government. To answer an opposition economist whom he did not name, he said that “it is not about getting a clinical doctor because we already know the diagnosis.” “Only a salami doesn’t know what the diagnosis is. Argentina had a terminal fiscal cancer, a financial, monetary, exchange and institutional metastasis. “What Argentina needed was a team of highly complex surgeons.”said.
He also warned that if the Bases law is not approved by the Senate, the Government will also maintain the economic course, and asked businessmen to “think about the opportunity in front of them.”
Caputo did not stop praising President Milei, whom he said is “a phenomenon, he is the exception to Baglini’s theorem,” he said. “Milei made people understand the root of all the economic problems. We did everything we said in the campaign and we are earning credibility with our actions,” he explained.
