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The President evaluates new disbursements from the IMF or private funds to accelerate the exit from the stocks and dollarization - Infobae
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El Presidente evalúa nuevos desembolsos del FMI o de fondos privados para acelerar la salida del cepo y la dolarización
Javier Milei aseguró que se necesitan USD 15 mil millones para levantar las restricciones y avanzar hacia la competencia de monedas. Dijo además que aún no están definidos los cambios en el Impuesto a las Ganancias que incluirá la nueva ley bases
www.infobae.com
March 15, 2024
Javier Milei assured that USD 15 billion is needed to lift restrictions and move towards currency competition. He also said that the changes in the Income Tax that the new basic law will include have not yet been defined.
Javier Milei: "Si yo tuviera 15 mil millones de dolares, yo hoy abro el cepo"
Javier Milei: "Si yo tuviera 15 mil millones de dolares, yo hoy abro el cepo"
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avier Milei: "If I had 15 billion dollars, I would open the trap today" (radio La Red)
President Javier Milei acknowledged that they are evaluating closing a new program with the International Monetary Fund, other countries or even private investment funds to accelerate the exit from the stocks and launch dollarization .
“ We could move forward in making a new agreement with the IMF ,” said Milei in an interview with journalist Gustavo López on radio La Red. And he developed: “ It could contemplate disbursements from the Fund, from other countries or from investment funds to accelerate the system.” of coin competitions ”.
Then he estimated that with a loan of USD15 billion the exchange rate could be opened and accelerate the competition of currencies with the peso , which is usually simplified with the term “dollarization” because it is understood that the North American currency will be the one preferred by the market to carry out transactions.
The head of state assessed that his administration is in an unbeatable situation to agree on a new program with the IMF after having made a strong adjustment that brought the country to fiscal balance in the first full month of administration.
Milei also said that if they do not reach an agreement to obtain those USD15 billion, the Government is in a position to continue cleaning up the Central Bank and add that amount of dollars to the market in the middle of the years, according to estimates from the IMF itself.
According to the government's view, a lifting of the stocks should cause a strong rebound in economic activity and genuine growth by 2025.
The lifting of the stocks and the free competition of currencies with the peso “is an intermediate step before ending the BCRA,” the President specified.
The main sectors of the economy have registered sharp falls in recent weeks, which has resulted in a sharp decline in activity. Milei estimated that the country is currently going through the toughest moment of the adjustment program promoted by his administration. “ March and part of April ” are the most difficult periods of the program. However, she stated that the surveys show that there is great optimism among the population who believe that the correct path is being taken to defeat inflation and reactivate the rise in GDP.
The Income Tax, under discussion
The President assured that the terms included in the draft of the new Bases law (popularly known as omnibus) are in full debate with governors and representatives of the legislative blocks. Although the Executive Branch proposed a sharp decrease in the floor from which workers pay Income Tax, the issue is still the subject of debate.“It is under discussion because there are provinces that want it and there are others that don't. The provinces today have a deficit of 1% of GDP as a consequence of the policy that was endorsed in the last stretch of the previous government and these are all issues that are under discussion,” he acknowledged.
As reported, the draft omnibus law known this week is a first approximation from which it will be discussed and negotiated with the provinces. “The situation in the northern provinces is not the same as that of the southern provinces and in that context there are issues that the provinces themselves must resolve,” he explained.
