Washington, APR 23 (EFE) .- The governor of the Central Bank of Argentina, Santiago Bausili, insisted this Wednesday, 10 days after the so-called exchange rate was an end, in which the goal of the authorities of the Latin American country is that the dollar manages to enter at some time in a free flotation with the peso.
In an intervention within the framework of the spring meetings of the International Monetary Fund (IMF) and the World Bank (BM), Bausili chose to rule out that there is an alternative plan and assured that this flotation “will arrive over time.”
“There is no posterior phase in terms of free flotation. The idea is that one day there will be a free flotation of the dollar,” he explained.
The economist explained that Argentina is now in one more phase of those that must be overcome in order to achieve exchange normalization.
“We are going through different phases of a path that leads us to the objective and it is what layers of control of restrictions and regulations we can eliminate to finally reach that goal,” Bausili explained, which stressed that the Argentine authorities have decided to accept the idea that the country “is a bimonary economy.”
The governor of the Argentine Central Bank recalled that “people save in dollars and use them to acquire long -term assets, from real estate property to cars, but use the local currency (the weight) with transactional purpose.”
“We decided not to fight that, because that is a reality, what society is doing, we like it or not. So we adapt policies and frames to what already exists in the face of the idea of trying to change its mentality,” he added.
Bausili also spoke about Argentina’s efforts to negotiate the last credit approved on April 11 by the IMF worth $ 20,000 million at a time when the country had “zero credibility.”
In that context, he assured that each measure of the ambitious stabilization plan conceived by the government of Javier Milei – which the IMF has valued positively and that it has been fundamental to achieve the new credit program – was implemented only when those responsible for monetary and economic policy were sure that it would not be necessary to reverse any of them.
Bausili’s intervention occurs the same day that the Minister of Economy, Luis Caputo, and his team plan to meet with the IMF managing director, Kristalina Georgieva, to analyze the reforms agreed between Buenos Aires and the agency. EFE
(photo) (video)
