In the midst of several consecutive days of rising blue dollars, the economist against the president of the Central Bank. what else did he say
By iProfessional
26/04/2023 – 2.13 p.m
In the midst of several consecutive days of rise of the blue dollarthe economist and Secretary of Strategic Affairs of the City of Buenos Aires, Martin Redradopointed against the president of the Central Bank, Miguel Angel Pesceand considered the financial entity must “show reflex capacity” to stop the exchange crisis.
“To overcome a currency crisis like this, the Central Bank must show reflex capacityuntil now absent”, said Redrado in his account of the social network Twitter.
Within this framework, the former president of the Central Bank of Cristina Kirchner attacked: “The stabilization of the market will come when the BCRA has the ‘wow factor’ with punctual actions, through different instruments, ALL day”.
“As an example, it is necessary to highlight which stock market operations carried out by the BCRA must be simultaneous with those carried out in the futures market,” he pointed out.
And he retorted: “However, nothing replaces the necessary approach to get out of the crisis: Plan + team + laws. For that we will have to wait until 10/12/23“.
Redrado’s sayings are in line with what was exposed this Tuesday in front of an auditorium of the Grain Exchange, where he coincided with the economists Marina Dal Poggetto and Luciano Laspina to talk about what is coming.
The former president of the Central Bank assured that “we are at the end of the cycle“, for which it is “necessary to address a comprehensive approach, which includes predictability in public spending, a reform of the State and also combat informality.”
After the strong rise in alternative dollars, the head of the BCRA was left in the center of the scene
Redrado, against Pesce: “The BCRA must show reflexes to act”
According to his vision, “the challenge is to normalize relative prices and have special laws that give the economy a horizon.”
Finally, he considered that “we must work on international geopolitical negotiationsgo towards tariff position agreements”.
In the midst of a soaring of the blue dollar, whose price changed every 10 minutes and reached close to $500, the Minister of Economy of the Nation, Sergio Massa, came out to tweet that he had informed the IMF that he was going to intervene in the market -something that the organism had vetoed him-.
So, sought to contain financial dollars and, tied to these, the parallel dollar. Although he managed to do it on the closing of the wheel, the loss was not forceful.
The head of the Palacio de Hacienda put Lisandro Cleri, current second vice president of the Central Bank, in charge of the entity’s money table and would intervene again if the dollars get out of hand. The operation is like this: sell bonds in foreign currency of local law (Bonars) and receive pesos and use dollars to buy global bonds.
In addition to the use of reserves, Massa will use more coercive tools: he will investigate and penalize market agents he believes are speculating.
