Government will announce the new one tomorrow “agro dollar”, with exchange benefits for rural sectors, with export capacity and strong currency settlement. will also apply a unification of technological exchange rates.
The goal is to achieve accumulate and take care of reserves during the next three months and thus achieve comply with the goals set by the International Monetary Fund. This is a measure agreed upon by Sergio Massa in its passage through the United States and that will contemplate more than ten actors from the field.
as far as he could tell PROFILEthe announcement will be made by Maasa together with the Secretary of Agriculture, Juan Jose Bahilloat the edge of the beginning of the long weekend, product of the festivities for Holy Week, and governors will be present and field representatives. Its implementation will seek to bring relaxation to the exchange market, which showed rises in the gap between the official dollar and the alternative onesbefore the constant loss of reserves suffered by the Central Bank during March.
This Tuesday, the BCRA parted with US$ 50 million and in just two days he sold US$ 310 millionwhich meant almost 10% of the record for losses in the first quarter, when it had to put some US$3.1 billion on the market.
More than ten sectors benefited
Official sources confided that the benefited sectors will be more than ten and that is why there will be many governors who will receive the news with relief, after the drought crisis that hit primary production hard. For the regional economies, the special exchange rate will have a window of 90 daysunlike the 30 in which the third edition of the “soybean dollar” will be enabled.
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With the soybean liquidationthe Central intends to achieve up to US$4.5 billion. While the regional economies could contribute some US$ 3,000 million more. If the base objective is achieved, the Palacio de Hacienda will seek to meet the new reserve accumulation goals imposed by the IMF. For that, will have to add some US$ 5,000 million to the current meager reservesbut in the meantime it will suffer the effect of paying for imports, at the beginning of winter and still with the need to buy gas, waiting for the connection of the internal supply by Vaca Muerta.
For this reason, it will also announce the unification of dollars for import of services. Thus, the dollars linked to payments for tourism, shows and services, or so-called “Qatar”, Coldplay” y “Netflix”, they will have a unification of costs and the limit of US$ 300 to pay the surcharge will be shortened. In this way, the Government will seek to reduce the flow of the faucet for the exit of the few dollars. Another option that is handled is the application of a transport tax for importation, but it would generate conflicts with industrial costs.
IMF support
On the fifth floor of the Palacio de Hacienda they took a week to make adjustments to the project that they brought to the IMF, during Massa’s visit to the Board of Directors of the multilateral credit organization, before the approval of the goals for the first quarter. In the approval weighed the loss of almost US$ 20,000 million which is calculated that leave the drought from the countryside, since the country has no other alternatives to add foreign currency through the productive channel.
The calculation of $300 honest trade dollar value and seeks to reduce the panic generated by the new ceiling that the financiers and the blue had reached. For a sector of the market, the lack of foreign currency in the BCRA had left conditions of abrupt devaluation to the front door, but new exchange rate conditions could ease exchange rate pressure. At least that is what they expect in the Ministry of Economy and, in principle, the operators consulted by this means would accompany him.
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In fact, there is a sector of the opposition within Together for Change who began to sincere that the price of $300 for the exchange rate “is in equilibrium” and sought to disprove the omens of an exchange rate explosion around $400. It happens that some members of the economic teams of JxC they fear that an inflationary crisis will break out that leaves the next government with little room for action, according to sources consulted by this medium.
AM / ds
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