In the cycle driven by Luis Majul in La Nación+, the Minister of Economy Luis Caputo He explained when the economic recovery is expected in the country. This Monday, when asked by the journalist, the head of the economic portfolio ratified the exchange rate course of the libertarian administration with a strong statement linked to the price of the dollar. “What we are doing with the bands is floating gradually,” he said.
“You’re not going to wake up tomorrow and there’s going to be a big shock,” Caputo stated emphatically and remarked: “If the dollar rises to the ceiling of the band, it won’t happen from there. So go to sleep peacefully because nothing happens with the dollar.” Although the minister claimed to feel “comfortable” as long as the dollar is within the established bands and clarified: “I would prefer that it not go to the floor of the exchange rate band. If it were much lower today, it would not do the economy any good.”
Although the economist was explicit about the dollar, when he was asked about when the economic recovery was going to impact people, his response, regarding the deadline, was very unclear. “For the situation to continue improving, we have to take into account where we come from, the situation has already improved. Now, we are not going to be Switzerland in 24 hours, the president or I never promised that. We always said that it was going to be a path that this time was going to be worth taking,” he stated.
“The reality is that the faster we Argentines can convince ourselves and the businessmen, the investors from abroad, of the opportunities that exist in Argentina, that is what the faster it will reach the people. More investments means more work and better salaries, Caputo highlighted and detailed: “In the last two months, investments for US$ 100 billion have been announced, obviously it is not money that will come next year, they are investments within the next four years, but they are investments that change the situation economic of the country definitively.”
After the victory in the legislative elections, with the departure of the so-called “kuka risk”the national government highlighted that there was a change in the financial cycle that corresponds to the support from the United States Secretary of the Treasury, managed by Scott Bressent and supported by the administration of donald trump. Regarding this, the minister considered: “The elections were a spectacular boost and we are going to see an immediate recovery that will manifest itself in the fourth quarter. Next year, Argentina could be growing at 5% or 6%.”
In the dialogue and in tune with a large part of the libertarian cabinet, Caputo took the opportunity to throw a dart at Mauricio Macri. In a strong definition to differentiate himself from his previous management in the Cambiemos administration, when he was leading the Finance portfolio, the current Minister of Economy assured that the current plan is “practically opposite” to the one implemented during the Macrista government. Asked why this time the situation would be different, the former president of the BCRA was blunt: “The fiscal and monetary work that was done during this administration was not done. The dirty work that we did was not done.”
by RN
