The Government announced that this Friday bought US $ 1345 million -With what he would have recovered what he sold in the previous electoral- and denied that he had imposed a exchange rate through the new cross restrictions announced this midday the Central Bank (BCRA).
This was confirmed on Friday night the Minister of Economy, Luis Caputo, who also said that It is not true that the producers of the field would not have benefited from the temporary removal of the withholdings which was announced this week and closed untimely in 72 hours.
“The treasure, of which the field liquidated, bought 25% on Thursday and today 77%; were US $ 1345 million only today,” said the minister. He pointed out that that would not have been possible without the decision of the BCRA.
Official sources from Casa Rosada told The nation that this week the treasure would have gathered about US $ 2500 million; I hoped to add US $ 3000 million next week product of extraordinary liquidations, and that is working on contributions from abroad for US $ 2000 million more. All with the focus placed at the expiration that the government has in January for US $ 4000 million.
This medium wanted to confirm the information with the economic team and its spokesmen, but there they preferred not to give more details.
International reserves ended today at US $ 41,238 million and the Central reported that it did not intervene in the change market.
“A Quisco of a few was simply cut that the markets arbitrated, ”the official described on the decision of the entity that Santiago Bausili leads to impose restrictions that had risen in April. He described that calling it CEPO is a “disparate”.
Caputo was Jonatan Viale in TN Next to the head of Arca, Juan Pazo, and the director of the Central Bank (BCRA), Federico Furiase.
Furiase repeated, meanwhile, the same argument he raised after the decision in X. [Mercado Libre de Cambios]. They can buy those that your patrimonial situation allows them. What does not allow is that with those dollars they supply the financial dollar market. The decision seeks to avoid distortions in the change market, ”he had written again. He stressed that the dollar floats inside the band and that the foundations are solid.
The BCRA today replied a standard of time of the CEO, the so -called “Cross restriction.” Last week he had imposed on banks and their relatives, today it extended to all people. It establishes that whoever buys dollars in the official exchange market will not be able to access financial dollars for the next 90 days. The official intention is to disarm – through a restriction that cuts this arbitration – a “rulo” that consists in generating a gain for the purchase of the retail (cheaper) and the sale in the cash with liquidation or in the MEP (more expensive). The immediate effect was a widening of the exchange gap (10%).
“It is clear that it is not true that the producers did not benefit. They have the highest price of soy in 25 years; they capitalized 60% of the decline in withholdings,” Caputo said about the controversy with the rights. “Producers always have the option of not selling to exporters and see if they are paid a higher price; they have negotiation power,” he said and confirmed that the price of soybeans rose 17%.
“The withholdings are a priority,” he estimated and stressed that they will go down “as a fiscal space.” Pazo, at his side, recalled that the export rights to regional products, to the dairy industry, to the pigs were lowered, and that tariffs were reduced to all the inputs of the agriculture, in addition to that the entry of used machinery was allowed.
Last Monday, and with the aim of adding dollars to bald the way for the elections of October 26, the Government announced zero withholdings for all grains until October 31 or even complete a quota of US $ 7000 million. That quota was completed in just 72 hours and the withholdings rose, which produced a strong discomfort among the producers of the field, who interpreted that there was a previous agreement between the government and the cereal. The fiscal cost of the measure, according to analysts, was between US $ 1100 and US $ 1500 million.
The same day, the United States Treasury Secretary Scott Besent, said that country I would do what was necessary to support the Argentine government and its economic plan. Such support changed the expectations in the market, which were very beaten by the sales that the BCRA had to make last week for US $ 1110 million in three days to support the top of the flotation band and with a country’s risk rise up to the 1550 points that further away to the government of the volunteer markets, and fired a bond rise, shares and fall of the dollar that reached today, when the restitution of the restriction of the restriction was known. that imposed the BCRA for all individuals.
After a photo of Javier Milei and the president of the USA, Donald Trump, Besent also announced A coin swap with Argentina for US $ 20,000 million, Credit lines for the country and the possibility of a purchase of dollar bonds by the Treasury.
Caputo, who stressed that he was always “quiet”, Despite the exchange tension last week, he said that Besent had asked him to work at the “Governance.” The minister, who had previously found only political causes to the run, admitted that they need “Revoke trust” with Congress and governors to be able to boost structural reforms and “unlock” the economy.
