The Economy Minister will announce the first measures at 8 am tomorrow

President’s Spokesman, Manuel Attorney, Economy Minister Luis “Toto” Caputo confirmed today that he will hold a press conference to announce the first executive actions “very early” this Monday.

“It will be 8 in the morning”Javier Milla pointed the attorney at the door of Congress before attending the inauguration of the president.

With a constant urgency, they hover over us inflammationWeakness Reservations, exchange rate Y Lack of funds, Within the framework of painful social indicators in a complex situation, the New Economic Group will print a new direction with its first maneuvers under the leadership of the Treasury.

In parallel, a very close Santiago BoucilliHe will head the central bank starting Monday, where he will tackle the issue of monetary policy and exchange rate rules.

Millay’s mandate to his economic committee was to end the central bank’s wage borrowing as quickly as possible, which libertarian economists identify as an obstacle to releasing the exchange rate without putting pressure on prices. They are in favorable terrain for high inflation.

In parallel, Kabuto can search A tax fundMore or less quickly, it provides a cushion of foreign currency to work with that first wave of operations.

A central question to focus on in Miley’s early days: Will there be? Immediate depreciation (something the market is already discounting), but especially its depth and its impact on prices later.

Amid doubts that appear, said Depreciation depth For starters, if the minister needs it, how much pressure will it put on the price ecosystem? Issuing substantial debt To liquidate those liabilities of BCRA and if it can get Fast Funding A loan abroad in dollars, through a monetary fund, a consortium of banks or sovereign funds of other countries.

And how society and government will navigate it The path that leads stagnation Between one and a half and two years as Javier Mili expected a few days ago.

While the market has strong expectations of a change from Monday, there is still no concrete indication of what the first step in opening markets will be. In principle, the plan points to a virtual division — one dollar for imports and exports and another for other activities — in which the gap will be narrowed to the extent of fiscal adjustment and settlement of wage arrears. Builds confidence among central investors.

At what price would the correction occur, it was Guillermo Francos, the future Home Minister who gave all the signals. “A dollar at $650 seems reasonable,” he said.

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