For the moment, everything is connected to what has been signed with the IMF

Mauricio Macri He has headed a new cabinet meeting at the Residencia de Olivos, where he tends to attend Fridays. Finance Minister Nicolás Dujovne was not there, but during a trip to Brazil where he met his counterpart Paulo Guedes to discuss the progress of the Mercosur-EU deal, the dollar's volatility and mistrust with regard to markets have been among the most critical factors. topics of the meeting.

As in the reports he gave to the radio this week, the president badured his ministers that the wrong indicators are due to the uncertainty of the elections and the possibility that Cristina Kirchner will become competitive at the polls. approach of the STEP of August 11th. and the generals of October 27.

At a time when the meeting was taking place at one of the Olivos lounges, the greenback and country risk were declining alongside a better listing of Argentine bonds. But in the end everything turned around and the two indicators went up again; the bank note scratched the $ 47, a new record in its price.

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"The rise in the end came from the fact that a large fund did not renew part of its portfolio and that it went into dollars, according to the Central Bank." We will continue with this volatility, "said a qualified government source consulted yesterday afternoon.

In front of his cabinet, the President reiterated that they had to coexist with the volatility of the greenback as long as electoral uncertainty prevailed. He attributes this to the so-called "political or electoral noise" that changes the markets. "As long as the dollar does not exceed the ceiling of the band, we can not do more because of the agreement with the IMF.We will see if the last days are transferred to inflation," added the consulted official who, questioning on how he had observed the president in the afternoon, once the exchange rate storm had intensified, had responded "calm but aware of what is happening ". .

It is the same badumption that the ministers who circulated Thursday at Casa Rosada were instructed to explain. "In 2015, the dollar has also evolved with the proximity of the elections, which is due to the exchange rate.It is the blue dollar that has increased," recalled, with some irony, a close presidential aide.

In the afternoon of yesterday, Macri led the third plenary session of the Vaca Muerta table, which represents an economic oasis in the face of the difficulties posed by other regions due to the crisis. It is a cross-sectoral space in which we discuss the development of hydrocarbons in the Neuquén basin.

Ministers were present Guillermo Dietrich (Transportation) the deputy chief of staff in charge of the modernization secretariat, Andrés Ibarra; Secretary of Energy, Gustavo Lopetegui and Governor Omar Gutiérrez (Neuquén). Also present were the owners of the Rio Negro, Neuquén and La Pampa private oil and gas union, Guillermo Pereyra; the Union of Workers of the Metallurgical Industries (UOM), Antonio Caló; and the Union of Construction Workers (Uocra), Gerardo Martínez.

Although expected, the presence of trade unionists of weight was significant in the perspective of the strike of April 30 and the decision of unions CATT (transport) not to serve May 1 as a way to protest against the payment of the tax. to earnings.

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Does the executive believe that the measure of force next Tuesday will lose strength due to the CGT's lack of support and, as far as it is understood, its political motivation to be led by the Middleism is actually a ram of Kirchnerism.

"There will be buses and trains, except the Sarmiento for the protest of the section of the" Chicken "Sobrero, which carries an illegal measure because it is not the Central Railway Union that decides to s & rsquo; stop, "said another official source consulted by Popular

In the provinces, the vagaries of the economy are also causing concern. San Juan Finance Minister Roberto Gattoni told the media that "this lack of confidence and the instability of the government do not generate any investment opportunities, with this level of country risk (yesterday closed at 965 points) and the volatility of exchange rates that will catch the eye on any investment.

At the local level, we are complicating the fall in incomes relative to inflation, we are 15 points below, and in terms of infrastructure debt, we have virtually no debt in dollars. But if everything continues like this, we will experience imbalances in the flows because of the fall in revenues in the coffers of the provinces.