The President questioned, without mentioning it, Rodrigo Valdés, director of the Western Hemisphere of the IMF. In this way, he contradicted Luis Caputo, who indicated that there were no problems with the Fund. The reasons that explain the exchange rate tension.
June 25, 2024, 10:07 p.m.
Javier Milei’s claims against the IMF. (Video: TN/Photo: Reuters)
The dollar hit a record high again. The blue reached $1365 and the financial ones also rose. The reason for this increase, basically, is the lack of dollars. The Central Bank continues to fail to buy foreign currency during June. Until now, it has purchased approximately US$100 million, when it should have reached US$5 billion by this date.
Also read: The Central Bank limits the purchase of dollars and new questions arise about the exit from the stocks
Now, to this problem, Javier Milei’s fight with the International Monetary Fund (IMF) was added. This Monday, from Prague, he made statements against one of the most important figures of the multilateral credit organization, Rodrigo Valdés, director of the Western Hemisphere, in an interview with Radio Mitre.
The President complained, but did not directly mention the Chilean economist: “We are talking about four points of GDP. And it is not only the responsibility of the previous government, but from an IMF technician who turned a blind eye to this, someone with ties to the São Paulo Forum“, said.
Rodrigo Valdés, the head of the IMF in the region, questioned “the quality of the adjustment” of the Government in March. (Photo: IEFA Latam)
Rodrigo Valdés had complained to the Government in March “check quality of fit” so that it does not affect the working class and asked that the exchange controls be balanced “very carefully” to be able to get out of the trap.
Valdés’ statements were followed by the latest IMF report. Although the fiscal adjustment received praise, the international organization ratified the “structural objective” of eliminating the export dollar (blend) as of next Monday, which would allow the exchange rate to be lifted at the end of July in favor of a more “flexible” exchange rate.
Also read: On alert for the recession, governors seek to obtain funds to reactivate public works
As pointed out TN Last Friday, the IMF report greatly affected Javier Milei’s economic team and, while Luis Caputo published a tweet in which he assured that there will be no devaluation and that there were no problems with the Fund, the president’s statement against Valdés He contradicted him. This causes a lot of noise in the ruling party.
The criticism that the Fund makes of the Government is due to the fact that it does not lift the stocks, while Javier Milei’s economic team complains to the IMF for demanding a devaluation, something that Milei opposes, since it would cause a new acceleration of inflation.
