President Javier Miley He is speaking at the end of the leaders’ meeting held in La Rural.
The president focuses his presentation on the exchange rate and the accumulation of reserves.
According to Miley, “It cannot be compared to 2017 because the fiscal adjustment was never done. Under Mauricio Macri’s government, it was never corrected except with debt.” “Net $60 billion taken.”
Miley stressed that his government has a financial surplus “We cancel debt”He added.
“They take a series and calculate an average based on where they want the exchange rate to be, especially for the exchange rate Rescue customers who have fallen victim to your bad recommendations. “Their desire to monetize their forecast errors through Argentinian hunger is a big theme.”
Luis Caputo revealed the government’s strategy to accumulate reserves in 2026
“Argentina is characterized by volatility because in… In times of unbridled populism, the exchange rate rises to the highest levels, and when there is an organized government, the exchange rate is appreciated. Given this volatility, it doesn’t make sense to work with an average.”
“Those who predicted the end of the world denied the danger of coca.” “And after the country’s risks diminished after the elections, they continue to deny them.”
He added: “You would have to be impudent and ignorant to take the real exchange rate series and ignore the financial issue. We are “We are reducing public spending by 30% in real terms, and this allows them to live with a lower real exchange rate.”
Floating bands
“The lag of monetary policy as we studied it has shown to be between 18 and 24 months. New work from the University of Cordoba proves that the lag is 26 months. And if we set the amount of money in the middle of last year when we finished cleaning the balance sheet of the central bank because it had monetary sterilization tools that generate internal growth in the quantity of money, that’s why we don’t want to go back to that kind of tools. “We are not dogmatic, and we do not want to see more inflation in Argentina.”He pointed out.
He added: “We are We have to reach 47.5 million Argentines, not four or five from the red circleOr they lived by the impoverishment of Argentina.”
“Argentines form their expectations by looking at the dollar, I don’t have to be angry about that, But to solve the problems, if I don’t do that, it would be very good if I don’t renew my contract.
In development…