The former head of the National Social Security Administration (CONSIDERED), Diego Bossioand the president of the Chamber of Deputies, Cecilia Moreaustaged a tense cross by the Government’s measure that obliges state agencies to sell your dollar bonds, to contain the fall in reserves. The economist had already called the announcement risky and “short-term.”
“They are speculating with the assets of retirees”launched Bossio, who led the entity between 2009 and 2015 during the presidency of Cristina Kirchner, in their social networks. So, he considered that it “uses and puts resources at risk destined to our future retirees with the sole objective of containing the financial dollar and financing the fiscal deficit”.
What does the government decree say that obliges state agencies to exchange their bonds in dollars
The declarations of the former Justicialista deputy sparked criticism from the Frente de Todos and it was the head of the lower house who came out to respond harshly through Twitter. “Tell the early opinion on the Sustainability Guarantee Fund and retireeswhich I recommend reading what is the mechanism on the exchange with ANSES“wrote.
“They are going to have to put their tongues in their pockets, to put it correctly”added the leader, who is very close to the Minister of Economy, Sergio Massa.
Bossio, who moved away from the Front for Victory in 2016, demanded that government leaders be clear about what they seek to do with the government bonds. Sustainability Guarantee Fund (FGS) of the ANSES, composed of various types of financial assets. The bottom serves as a shelter so that Anses can face the payment of the benefits of the Argentine integrated pension system in case of contingencies.
Together for Change wants to summon Massa to Deputies to “stop the barbarity” of the exchange of dollar bonds
“Cecilia, you are not a panelist of a program“, the former national official retorted. “You are president of the Chamber of Deputies. Instead of arguing with me, you have a responsibility to fulfill: explain to all Argentines what do you intend to do with the FGS“he added in his post.
“The measure they take with a simple decree has consequences for millions of Argentines for many years. Pretending to carry it out without further explanation is, and I fall short, irresponsible“, he added. Finally, the former director of the decentralized entity asked that the discussion be raised democratically in Congress, facing society.
The national government published in the Official Gazette the Decrees of Necessity and Urgency 163/2023 and 164/2023 through which it will advance in the exchange operation of bonds in dollars in the hands of public bodies for new titles in pesos. Thus, it was established that jurisdictions, entities and funds of the national Public Sector must make available sale or auction of their holdings of national government securities denominated in dollars under national legislation.
These tenders are in charge of the Ministry of Economy and, in this way, it aims to attract some $4,000 million dollars that would be “delisted” (they would cease to exist).
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