US EditionMilei’s Currency Shift Targets Reserve Build-Up
5 Articles
5 Articles
Milei’s currency shift targets reserve build-up
President Javier Milei's government is unveiling changes to its currency policy and says it will embark on a campaign to build up its depleted foreign reserves, moving a step closer to the free float investors have long desired.
The price of the peso against the dollar is a sensitive issue in Argentina. With the same daily schedule with which the weather forecast is consulted in many countries, the Argentines look at the value of their currency on the exchange market and successive governments have done their best to maintain a balance that avoids abrupt devaluations that shoot off prices and excessive appreciations that resist competitiveness to their exports. Javier M…
The economist said in Mañana Sylvestre harsh criticisms of the recent decision of the Central Bank to accompany the evolution of the dollar to the pace of inflation as of January 1, and warned that the measure implies a profound change in the economic strategy of the government, with concrete risks on the exchange rate, inflation and official credibility. “What the Central Bank announced is that it will remonetize the economy, buy reserves and i…
The national government announced that phase 3 of the economic program begins, the heart of Javier Milei’s administration. Until the last day of the current month, it was modified at the rate of 1%. The change is substantial and is also tied to a systematic demand of the Monetary Fund to be able to accumulate international reserves. The monetary authority stated that from the beginning of next January the last inflation data of the Indec will be…
The Central defended the gang scheme and attributed tensions to the electoral “black swan,” but analysts, banks and the IMF warn that without a greater accumulation of reserves fragility persists.
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