In the midst of the fall in net reserves and the projection of a strong shortage of dollars in the coming months due to the drought, Sergio Massa aimed to loosen the pressure on the foreign exchange market.
The minister met with bank representativesmutual funds, insurance companies and stock exchange companies.
The Palacio de Hacienda unveiled a scheme that will make public organizations sell their bonds in dollars or exchange them for debt in pesos, with the aim of keeping financial dollars at bay and generating financing in local currency for the treasury.
The one that will be most affected will be the sustainability guarantee fund of the Anses. One of the goals is to avoid the fiscal deficit, in addition to granting the Ministry of Economy the capacity to act in the financial dollar market without affecting the reserves and thus achieve the stabilization of the cash dollar with liquidation.
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For all these purposes and to consolidate the program treasury financierthe pesification of 4 billion dollars from the State will be implemented with instruments payable in pesos.
Finally, hard currency securities under local law will be offered through auctions in the market with the volumes and frequency established by the Ministry of Economy and the Central Bank.
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