Amid market volatility, the Government is taking extreme care in communication and Adorni suspends his press conference

Amid market volatility, the Government is taking extreme care in communication and Adorni suspends his press conference
Amid market volatility, the Government is taking extreme care in communication and Adorni suspends his press conference

Amidst market volatility, the Government decided to take extreme care in terms of communication and after the opening of the day the dollar remained stable, chose to suspend the usual press conference of presidential spokesman Manuel Adorni.

Although the argument given by Adorni’s office attributed the measure to complications in the official’s “very busy” agenda of meetings, the Executive seems to have taken note of the sensitivity of the markets to the announcements. In fact, as reported by Clarín, the issue was raised in the meeting that the Minister of Economy, Luis “Toto” Caputo, and the president of the Central Bank, Santiago Bausili, held with a group of bankers. “We need to communicate better,” was the mea culpa that emerged from the officials.

On Tuesday, however, Adorni was the official voice of the Government after the Cabinet meeting in which Milei and Caputo explained the reasons why, as they understand it, the markets reacted in this way.

The spokesman confirmed the course of action, saying that the Government “will not take a single step back, not even to gain momentum.”

“When we announced zero deficit, the dollar also jumped and when those unbelievers believed us, the dollar ended up settling down. And what we announced was zero emission. It is likely that some who do not believe understand that the value of the dollar has to be higher than what it was on Friday or yesterday (Monday). What this group of people thinks does not interfere with our plan, our path and what we are doing,” he said.

Adorni, who is highly trusted by President Javier Milei but is also a key part of Karina Milei’s scheme, argued that there were scheduling problems in order to cancel the conference on Wednesday, after the markets remained stable. “There were activities until 10:30 and there was no time to prepare the topics as required. And he couldn’t postpone it for half an hour because he had another commitment at noon,” was the version given by those close to him, where they flatly denied that it was due to the intention of not interfering with the markets.

This version is technically sustainable.

The concrete thing is that Adorni will not give lectures for the rest of the weekThis Thursday, due to the literacy plan event that Milei will lead in San Juan, while on Friday, it is estimated that the Government will prioritize an event of the President with athletes.

The decision was that Adorni, an economist, would leave the role of spokesperson to the Chief of Staff, Guillermo Francos.who pointed to “some who operate or have different expectations” than the Government, which “has not changed its position.”

Speaking to Radio Mitre, Francos said that the government “is not going to change what it has been doing and will continue to apply this policy until all macro variables are stabilized.”

He added: “The belief that a devaluation is imminent is only the thinking of some market operator” because “the money supply has not increased, has not been issued and has not been in debt, so there is no situation to generate this unstable mood in the markets.”

 
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