The Secretary of Industry and Productive Development confessed that they are avoiding “what many of the opposition want” and hopes that the IMF will give in to the goals
By iProfessional
29/03/2023 – 21,12hs
A key official of the Ministry of Economy of the Nation acknowledged that Alberto Fernández’s management is waging a “minute by minute fight to avoid a sudden devaluation.” This is the Secretary for Industry and Productive Development, José Ignacio de Mendiguren, who confessed that Sergio Massa “is doing the impossible.”
“We are going to do the impossible to avoid what everyone knows, and what many of the opposition want, that is the abrupt devaluation. We are doing the impossible”expressed the former national deputy in an interview with radio AM750 and El Destape.
The sincericide of José de Mendiguren
The secretary’s statements come at a critical time. While the drought wreaks havoc on the reserves of the Central Bank (BCRA), Massa is forced to request new relaxations in the goals from the International Monetary Fund and President Alberto Fernández begs his US counterpart, Joe Biden, for support.
Within this framework, de Mendiguren added: “We have to seek to lower the exchange rate ceiling and not abruptly raise the floor. With the low level of reserves, the level of inflation that we still have and the loss of purchasing power, the measure that many are looking for is a sharp devaluation.”
The official who answers to Sergio Massa showed optimism regarding the possibility that Kristalina Georgieva accepts new exceptions in the agreement with the Argentine government. “I think there will be good negotiations. We are in an exceptional situation that the fund itself contemplates,” he said.
Finally, he blamed climate change for the fall in reserves. “There are 20 billion lost income due to a climate issue”he expressed in line with the head of state himself, who in the meeting with Biden assured that “Argentina is going through the worst drought since 1929.”
Sergio Massa. According to De Mendiguren, the economic team “fights” to avoid a sudden devaluation.
Alberto Fernández and his long-awaited photo with Biden: can he influence the internal government?
The meeting that President Alberto Fernández held with his counterpart from the United States, Joe Biden, at the White House allowed the president to have the political photo he has been waiting for since last year, although the context is no longer the same as back then, when He sought to strengthen his position in the midst of the internal government and the darts he received from Kirchnerism.
Although the summit itself has symbolic value for the Fernández Presidency – a bilateral meeting at the center of Western political power that Vice President Cristina Kirchner never had in her eight years in office – the political accolade that would have meant in July Last year, when the scheduled meeting was postponed, it was now replaced by a request for financial support.
That was the reading of what Fernández said in the brief exchange he had with Biden before the press, where when talking about “climate change” he mentioned to the American that Argentina lives “the worst drought since 1929” and that this “has greatly complicated” its economy. “We are raising this new reality to credit agencies. I hope they continue to accompany us as they have done up to now,” added the president.
